Five Lessons from GEM’s Research

Listen

The Global Entrepreneurship Monitor, co-founded by Babson College in 1999, is the largest and most developed research program on entrepreneurship in the world. No one understands the importance and impact of GEM’s research and findings more than Donna Kelley, Babson’s Frederic C. Hamilton Professor of Free Enterprise Studies, who also is a board member of GEM and leader of the GEM U.S. team.

Here, Kelley offers five lessons from GEM’s recent research:

1. Opportunities emerge out of uncertainty.

In uncertain times, entrepreneurs may hold off on acting on their ambitions, temporarily or possibly for good. During the 2008 recession, for example, entrepreneurship in the United States plummeted. However, we need to think entrepreneurially during such times, recognizing opportunities for different business models, different products or services, or at least different practices.

2. Entrepreneurs need an ecosystem.

They depend on a range of stakeholders: customers, investors, co-founders, employees, suppliers, advisors, and so forth. Understanding the unique mix of factors that will enable entrepreneurs to thrive, and identifying and addressing any underlying constraints they face, will create the foundation for sustained survival and growth of ventures in the community.

3. Underserved populations require attention.

Participation in entrepreneurship is uneven across societal groups. Women engage in entrepreneurship at lower rates than men in most countries. We also can look to uneven participation across income, age, and education levels, as well as other groups, such as veterans, migrants, ex-convicts, and people with disabilities. Individual groups likely have specific needs to thrive as entrepreneurs.

4. International commerce and innovation are key.

Selling internationally means an entrepreneur must compete in unfamiliar markets, adapting to compete on a global scale against local players. Support for innovative and global entrepreneurship will require particular conditions such as access to advanced technologies, intellectual property protection, export assistance, and highly skilled labor.

5. Economic vitality relies on mature businesses.

Stable jobs depend on ensuring sufficient businesses can survive and grow into maturity. This depends on the aspirations of entrepreneurs, but it also can depend on their choice of industry. Many people are attracted to starting low barrier-to-entry businesses, but an economy benefits to the extent it contains higher-potential capital and knowledge-intensive ventures.

Posted in Insights

More from Insights »

Latest Stories

Collage of four photos depicting Babson teams celebrating
Keeping Score: A Look at Babson Athletics’ Success by the Numbers From national and conference championships to academic achievements, Babson’s student-athletes continue to post impressive statistics. Here is a look at the numbers behind Babson Athletics’ successes.
By
Eric Beato
Editor / Writer
Eric Beato
Eric Beato is the Editor of Babson Thought & Action and Babson Magazine. A native of Chicago and a graduate of the University of Missouri School of Journalism, Eric has worked as an editor and writer at newspapers across the country, including the Chicago Sun-Times and Boston Herald. Eric joined Babson College in 2019 after working as the communications director for a private educational travel company and as the managing editor of six regional sports publications.
July 2, 2025

Posted in Community

A clear tip jar with cash sits on a counter
What Ending Taxes on Tips Could Mean for Workers and Tippers Babson thought leaders on tax policy explain how a federal proposal that includes eliminating taxes on tips might reshape the tipping economy.
By
Hillary Chabot
Writer
Hillary Chabot
Hillary Chabot is a writer for Babson Thought & Action and Babson Magazine. An award-winning journalist, she is known for her insightful reporting and dedication to detailed storytelling. With a career spanning over two decades, she has covered a wide range of topics, from presidential campaigns and government policy to neighborhood issues and investigative series. As a reporter for The Boston Herald, Hillary earned a reputation for tenacity and integrity. Her work at Babson College fuels her passions—to learn something new every day and conduct thoughtful, empathic interviews. She’s thrilled to be at Babson College, where students, faculty, staff members and classes provide compelling copy daily.
July 1, 2025

Posted in Insights

Members of the Babson community behind a Pride banner at the parade
Passion and Pride: How the Office of Belonging and Inclusion Supports the LGBTQ+ Community Babson’s participation in the Boston Pride Parade caps a busy and productive year of support for the LGBTQ+ community by the Office of Belonging and Inclusion, as it advances the College’s commitment to Inclusive Excellence.
By
Hillary Chabot
Writer
Hillary Chabot
Hillary Chabot is a writer for Babson Thought & Action and Babson Magazine. An award-winning journalist, she is known for her insightful reporting and dedication to detailed storytelling. With a career spanning over two decades, she has covered a wide range of topics, from presidential campaigns and government policy to neighborhood issues and investigative series. As a reporter for The Boston Herald, Hillary earned a reputation for tenacity and integrity. Her work at Babson College fuels her passions—to learn something new every day and conduct thoughtful, empathic interviews. She’s thrilled to be at Babson College, where students, faculty, staff members and classes provide compelling copy daily.
June 27, 2025

Posted in Community