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Global Entrepreneurship Week

Volume 498: debated on Thursday 29 October 2009

My noble Friend the Minister for Trade, Investment and Small Business, Lord Davies of Abersoch, has today made the following statement:

This year, GEW runs from 16-22 November. This is the UK’s second GEW an initiative inspired by BIS and co-founded with the Kauffman Foundation in the USA. There will be more than 80 countries taking part in this years entertaining and stimulating week.

Highlighting the importance of entrepreneurship is crucial for the future aspirations of millions of young people and the economic future of the UK. Entrepreneurs innovate, create jobs, increase economic growth and therefore help ensure a nation’s competitiveness. They spot opportunities, take risks, have ideas and make them happen.

GEW will help budding British entrepreneurs: by accessing international networks they will be able to brainstorm new ideas, enter new markets and find new resources. It will encourage the UK’s young people to become entrepreneurs, through interactive events that engage those who would not otherwise have considered enterprise. And by connecting British youth with young people abroad, it should increase the level of cultural understanding in the UK.

Its not just about entrepreneurs and business start ups; the week will also encourage organisations across the globe to celebrate and recognise the wealth of talent that is evident in every business and to encourage their employees to start thinking about ideas that have a very clear and tangible business benefit.

Last year, GEW was an enormous success and generated community interest in entrepreneurship; 644,000 people attended the 6,363 events. The single largest activity was the Make Your Mark Challenge which involved 56,000 students from schools and colleges. Around the world there were at least 25,000 events across 77 countries.

This year there are 82 countries involved as GEW gains momentum globally. We hope to make the week a success and inspire people across the world.