Global Entrepreneurship Monitor maintains positive outlook

Entrepreneurs are performing well, according to this year’s report, even amid searing economic headwinds undermining overall business confidence.

Choose the content you want

Get business inspiration and practical tips straight to your inbox 

Produced by a team led by Professor Mark Hart of Aston University, in partnership with the bank, the UK version of the GEM report draws on data from over 10,000 individuals to provide the following comprehensive results.

Key findings on the entrepreneurial landscape

  •  68.8% of early-stage entrepreneurs are more likely to consider social implications than established businesses (55.5%) and they are also more likely to maximise their social impact (50.0% compared with 39.6%).
  • The number of new businesses considering the environmental consequences of their decisions (68.7%) compared with established businesses (57.1%), although there’s no significant difference when it comes to taking action.
  • UK female-to-male total early-stage entrepreneurial activity (TEA) ratio of 78% in 2022 is higher than in previous years.
  • Youth entrepreneurship is strong, with those under 35 more likely to be involved in early-stage entrepreneurial activity than their older cohort.
  • In a similar trend to previous years, the TEA rate for immigrant-led businesses was 13.7% compared with 8.7% for life-long residents.

The female-to-male early stage entrepreneurial activity ratio was at its highest in 2022, a testament to female resilience in a time of flux, when fear of failure is slightly higher among women

James Holian
Managing Director, Business Banking

GEM: key learnings for future growth

One of the best-performing areas over the past year has been female entrepreneurs. As James Holian, Managing Director, Business Banking, says: “Findings reveal that the female-to-male early-stage entrepreneurial activity ratio was at its highest in 2022, a testament to female resilience in a time of flux, when fear of failure is slightly higher among women.”

Looking forward, there’s work to be done to encourage businesses to act on their environmental considerations. “Social impact is a bigger consideration for early-stage entrepreneurs than established businesses,” James adds.

With figures such as these pointing to further resilience in the UK’s entrepreneurial ecosystem, it is nonetheless a time when support is crucial.

Global Entrepreneurship Monitor report

Download the full UK report here (PDF, 8MB)

This material is published by NatWest Group plc (“NatWest Group”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by NatWest Group and NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of NatWest Group, as of this date and are subject to change without notice. Copyright © NatWest Group. All rights reserved.

scroll to top