The Global Entrepreneurship Monitor (GEM) 2005 Executive Report provides an overview of the state of entrepreneurship around the world. The report is based on data collected by a network of researchers in 43 countries, and is sponsored by Babson College and London Business School. The report includes a framework for analyzing the entrepreneurial landscape, as well as an analysis of early-stage entrepreneurial activity, established business ownership, entrepreneurial motivation, innovativeness and growth expectations, and sectoral distribution. The report also examines demographic and economic factors that influence entrepreneurial behavior, as well as factors that influence perceptions about the entrepreneurial environment. The report concludes with policy implications for high-income, middle-income, and low-income countries.