Do you plan to start a business? Well, probably you should do that in one of the top ten countries for entrepreneurs. A new report by EY outlines the top countries in the world to start a business. The report’s name is 2013 Entrepreneurship Barometer and here are the top achievers according to it.
United States – Entrepreneurship culture in the U.S. is well-developed. In fact, this is an area in which the country excels. People who choose to start a business in the States have an easy access to funding. However, that does not mean that taxes related to business are low.
South Korea – Government incentives for entrepreneurs in South Korea are many. In addition, regulations in the country are really business-friendly. Still, startups do not enjoy a good access to funding. Nevertheless, if you have the money, you are likely to expand with a faster rate compared to your colleagues who have settled in other countries.
Canada – Canadian government offers a big support to entrepreneurs who choose to start a business on the territory of the country. It provides tax and regulatory regimes that help business develop and grow. In addition, Canada has created various programs which focus on entrepreneurship. However, although private equity and venture capital in the country are registering an improvement, bank finance continues to demonstrate a weak performance.
Australia – Australia is performing equally well in all aspects examined by the study. It received a maximum score for business innovation and research. Yet, the fear of failure is rather common among startups in Australia. That partly explains why entrepreneurship is still not that popular choice of a career there.
United Kingdom – The UK offers startups one of the best accesses to funding. As a result, business expansion and growth in the country is way above the average.
Germany – Quite the opposite is the situation in Germany. There, the road to funding is often rocky. Despite that, startups can greatly benefit from the country’s educational structure and the opportunities offered by it. Fluency in German language is a priority number one for people looking to start a business in the country.
EU – The European Union is included separately in the list. The Entrepreneurship Barometer gave it an average score. That is because member countries of the EU tend to greatly differ from one another when it comes to economy and business environment, in particular. The area in which the European Union has shown top performance is education and training.
France – Again, education and training is among the best assets of France it terms of entrepreneurship. Pre-university education of the country is among the best in the world. However, expansion and growth can be challenging tasks for startups.
Russia – Coordinated support for entrepreneurs in Russia is above the average level. That includes all three factors of this category – networks, incubators and mentors. Nevertheless, entrepreneurship culture there is poor and not many people want make a career in these sphere.
According to the report, access to funding should find a place among the countries’ main priorities. In addition, it has found that mature economies offer the best conditions for entrepreneurship today. Still, it concluded that G20 countries have more work to do if they want to become more attractive for startups.