Dear Clients, Colleagues and Friends,

Following are some highlights of our activities around the world during 2011 -- our 28th year of researching, teaching, and consulting on entrepreneurship! We are grateful to our clients and international affiliates who enabled us to achieve another strong year -- in spite of the world's slow recovery from the -- Great Recession. ‖ It's been our experience that tough times actually create more interest in the entrepreneurial spirit and the economic power it can deliver for individuals, companies, and entire countries. Consequently, in 2011 we've had clients and projects across all three of those market segments -- as you will see in the following stories.