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The Definitive Study of Entrepreneurship

London Business School and Babson College just released their Global Entrepreneurship Monitor report, which is "the largest annual measure of entrepreneurial activity worldwide, spanning 34 countries and a total labour force of 784 million people."

Many of the findings are what you might expect, but some of the findings regarding funding were especially interesting, and contain some lessons for entrepreneurs that may surprise you…

Such as:

William D Bygrave, Frederic C Hamilton Professor for Free Enterprise, Babson College and lead researcher of the GEM Financing Report said, "Entrepreneurs seeking capital to start a business must first use their own savings, then turn to family members, next friends, work colleagues, and neighbours and finally strangers for informal investment. They should forget about formal venture capital."

Full Story: http://entrepreneurs.about.com/od/research/a/study2004.htm

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