New Zealand perspectives of international entrepreneurship

Although New Zealand once had the highest realper capita income in the world, today it is a country whose relative income hasdeclined and whose overall growth has been surpassed by other developedcountries.Due to its geographic isolation and its decline in growth, NewZealand needs to take advantage of growth opportunities through the creation ofinnovative products and processes. To evaluate the global entrepreneurial potential of New Zealand's people,the level of innovation, risk-taking, and entrepreneurial talents of the peopleare assessed.A brief history of New Zealand's innovative products andcompanies is presented, and beneficial economic policies of New Zealand areassessed.A 2002 survey of 2,836 adult New Zealanders was conducted todetermine the presence of entrepreneurial attitudes and behaviors present insociety. Based on the survey's findings, which were later recorded as a part of the2002 Global Entrepreneurship Monitor (GEM), New Zealand ranks high among themost entrepreneurial countries.However, the wealth creation rate amongNew Zealanders is still quite low. Explanations for this paradox arediscussed.The challenges to New Zealand's entrepreneurs are examined, andthe character themes among entrepreneurs are explored.Recommendations forovercoming the "entrepreneurial gap" are provided, and newlyimplemented international entrepreneurship training programs are evaluated.(AKP)