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Report: Economy boosted entrepreneurship in 2011

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By The Associated Press
Friday, Nov. 30, 2012, 12:01 a.m.

The slow improvement in the economy gave a huge boost to entrepreneurship last year, according to a study released Thursday.

More than 29 million people were starting or running new businesses in 2011, the study by Babson College in Wellesley, Mass., and Baruch College in New York shows. That was a 60 percent gain from 2010, when entrepreneurship was hurt by uncertainty about the economy.

The gain matched the increase in entrepreneurship recorded in 2005, when the economy and small businesses were booming.

Researchers found that nearly 40 percent of the entrepreneurs they counted expected to add more than five jobs each in the next five years.

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