The reemergence of entrepreneurship is taking place on a broad economic and institutional basis. Governments at all levels are now becoming sensitive to the role of entrepreneurship in stimulating the economy and revitalizing industry. Margaret Thatcher ‘ s program of privatization in Britain in the 1980s heralded the redesign of governmental policies to encourage entrepreneurial activity. Within a decade her government redirected the British economy from a socialized big business model to an entrepreneurial, free enterprise system with higher levels of employment and more economic promise than ever before.