What’s the best place in the world to start a business?
According to surveys reviewed by The Wall Street Journal, it’s Denmark. This and a host of other interesting ‘facts’ about entrepreneurship around the world were published in their November 15th edition.
Based on the information provided, it seems that the UK has some way to go to become the most entrepreneur friendly country. In the overall rankings, we come 14th, behind the USA (3rd), Ireland (6th), Iceland (9th) and Australia (11th). (Source- US Small Business Administration’s Office of Advocacy).
In terms of Red Tape, we appear to do rather better, coming 5th out of 183 in a ranking of how easy it is to start a business based on the procedures, time, costs and capital requirements that governments impose. Singapore, New Zealand, Hong Kong and the US are ahead of us with a number of African countries populating the bottom of the table. (Source- “Doing Business 2010,” the World Bank).
In gender terms, 7.4% of men and 3.6% of women in the UK are involved in an early-stage business, compared with 12% and 7.3% in the US and an incredible 19.3% and 13.4% in China. (Source- “2007 Women and Entrepreneurship Report,” Global Entrepreneurship Monitor).
So what’s the message? In terms of a school report, it looks like 7/10- could do better!