Global Entrepreneurship Monitor

Abstract

The 2016/2017 Global Entrepreneurship Monitor (GEM) survey represents the 18th consecutive year that GEM has derived insights on entrepreneurial activity including characteristics, motivations and ambitions of entrepreneurs, attitudes societies have towards entrepreneurial activity, phases of entrepreneurial activity, profiles of entrepreneurs and conditions of the entrepreneurship ecosystem. The 2016/2017 GEM survey included 65 economies, capturing 68.2% of the world’s population and 84.9% of the world’s GDP1. This is the first year that Cyprus participates in GEM. Each economy participating in GEM collects data from two surveys: the Adult Population Survey (APS) and the National Expert Survey (NES). The Adult Population Survey (APS) involved a random representative sample of 2001 adults between 18 and 64 years old. APS measured the individual participation across the phases of the entrepreneurial process. In the National Expert Survey (NES), 36 experts provided their informed opinions on the environmental features that have an impact on entrepreneurial activity. This report reflects on the results of the Adult Population Survey (APS) and the National Expert Survey (NES) conducted in Cyprus and discusses them with respect to the results of other economies. The objective of this report is to determine the extent and the characteristics of entrepreneurial activity in Cyprus, understand the factors that encourage or hinder entrepreneurial activity and provide recommendations to policy makers. Section 2 of this report provides more information on the economies participating in GEM and provides an overview of the methodology that has been employed. Section 3 and Section 4 summarize the results of the Adult Population Survey (APS) and the National Expert Survey (NES) respectively. Section 5 outlines the policy recommendations for Cyprus based on the 2016/2017 GEM results.