The world is currently in the grip of a devastating pandemic, COVID-19, which has been causing widespread negative health, social and economic impacts. There is a pressing need for careful, authoritative and evidence-based assessment of the pandemic’s impacts on levels of entrepreneurial activity across the world, as well as on attitudes and ambitions. The new 2020/2021 GEM Global Report spells out how levels of entrepreneurial motivation and activity vary across the world. In doing so, it provides the world’s first evidence-based assessment of the impacts of COVID-19 on levels of entrepreneurship.