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US Global Entrepreneurship Monitor 2002

Total US entrepreneurial activity decreased for the second consecutive year in 2002, according to the Global Entrepreneurship Monitor conducted by Babson College and the Kauffman Foundation. The decline of 10.2 per cent is attributed to the effects of the recession, the internet bust, and the fall-out from failed companies in technology sectors.

The decline in entrepreneurial activity was mirrored by decreases in financing activity. Informal investment declined by 19.5 per cent in 2002 and venture capital investing fell by 59.6 per cent.

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© GEM 2002

The Ewing Marion Kauffman Foundation and its partners look beyond need to identify and develop pivotal opportunities in Kansas City and nationwide to help create successful businesses and improve the education of children. Established in the mid-1960s by the late entrepreneur and philanthropist Ewing Marion Kauffman, the Kauffman Foundation works to advance entrepreneurship by reaching individuals of all ages through the delivery of entrepreneurship education and development, and the promotion of an entrepreneurial environment. For more information about the Kauffman Foundation, visit www.emkf.org.

Babson College in Wellesley, Mass., is recognised internationally as a leader in entrepreneurial management education. Babson grants BS degrees through its innovative undergraduate program (recipient of the 2002 Theodore M. Hesburgh Award). It grants MBA and custom MS and MBA degrees through the F.W. Olin Graduate School of Business at Babson College (currently celebrating 50 years of Babson MBAs). Babson's School of Executive Education offers executive development programs to experienced managers worldwide. Babson Interactive LLC develops distance learning programs and business simulations for executives and graduate students. More information about Babson is available at http://www.babson.edu.