November 20, 2014

US leads world in entrepreneurial activity

The US is the most entrepreneur-friendly country in the world, according to a new report.

The 2015 Global Entrepreneurship Index, which assesses the entrepreneurship "ecosystem" in 130 countries, ranked the US in top place, followed by its northern neighbor Canada, and fellow English-speaking countries Australia and the UK.

Nordic countries Sweden, Denmark, and Iceland followed in fifth, sixth, and seventh places respectively, with Taiwan, Switzerland, and Singapore rounding out the top ten.

Elsewhere, Chile came top among South American countries, with the UAE leading in the Middle East, and South Africa in sub-Saharan Africa. The biggest gains since last year were found in Iran, Latvia, and Greece.

The index, which is published annually by the Global Entrepreneurship and Development Institute, measures a range of criteria that can foster a positive environment for start-ups, including the availability of skills and capital, and acceptance of risk.

The report was published to coincide with this year’s Global Entrepreneurship Week.

Alexander S. Kritikos has written for IZA World of Labor about policies that can encourage entrepreneurs and economic growth. He advocates a range of measures including providing start-up subsidies and removing bureaucratic obstacles.

Download the full report here (email registration required).

Related articles:
Entrepreneurs and their impact on jobs and economic growth, by Alexander S. Kritikos
Entrepreneurship and the business cycle, by Roy Thurik
Immigrants and entrepreneurship, by Magnus Lofstrom