This executive report, prepared by Niels Bosma, Kent Jones, Erkko Autio, and Jonathan Levie, provides an overview of global entrepreneurship activity in 2007. The report uses data from the Global Entrepreneurship Monitor (GEM) to examine the link between entrepreneurship and economic development, as well as the characteristics of entrepreneurial activity. The report also explores the motivations of entrepreneurs and the perceptions of entrepreneurship and its link with activity. The authors gratefully acknowledge the input and dedication of GEM staff and acknowledge the use of GEM data, which is the sole responsibility of the authors.