Is India the Most Entrepreneurial Country?
A new report takes a look at entrepreneurial activity, attitudes and experiences in 33 countries -- ranging from economic powerhouses to emerging economies -- and points to India as the most entrepreneurial. Perhaps somewhat counterintuitively, the Global Entrepreneurial Report from the Oracle Capital Group points to a collection of developing nations as the most entrepreneurial. In fact, the U.S. is the "only large developed economy to appear in the top ten."
India captured the top spot by scoring highly on feasibility, experience, desirability, willingness to self-fund, low failure rates and high early stage business activity. It was followed in the top ten by (in order): Turkey, United States, Brazil, China, Iceland, Ireland, Russian Federation, Estonia and Austria.
The report found that more than half of the world’s richest 1,000 individuals come from the list's top ten -- although that shouldn't be much of a surprise as 34.2% came from the U.S. alone.
At the opposite end of the ranking were a number of "more developed" economies. The bottom of the list included: Spain, Portugal, Denmark, France, United Kingdom, Hungary, Italy, Germany, Belgium and Japan.
Is the study the authoritative list of "most entrepreneurial" countries? No, but it does contain some interesting comparisons between attitudes and experiences in the participating countries.
- Image of Entrepreneurs: Iceland had the best / most positive image of entrepreneurs and Hungary had the worst.
- Attitude to Risk: China had the best attitude toward risk and the UK had the worst.
- Feasibility: Brazil had the highest ranking on feasibility while Japan had the lowest.
- Self-funding: Turkey had the best attitude toward self-funding while Sweden had the worst.
Also, similar to the recent Thumbtack.com survey of small business owners in the U.S., the report points to regulatory burdens as being among the biggest barriers to entrepreneurial activity.
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