Entrepreneurship Policy & Confidence on the Rise in China
Last week, we highlighted the fact that entrepreneurial optimism in the U.S. was rising slowly. According to a recent study by EY, that isn't necessarily the case elsewhere in the world. Which country has the highest confidence in its own economy as well as the global economy? China.
The EY Global Job Creation and Youth Entrepreneurship Survey 2015 shows that an average of 71% of entrepreneurs surveyed are optimistic about their national economy while 66% feel the same about the global economy. American entrepreneurs come in under both of those figures with 70% and 58%, respectively.
On the other hand, China soars at 95% confident in the country's economic direction and 89% confident in the global economic direction.
Perhaps some of that confidence can be traced to increased efforts from the Chinese government to promote entrepreneurial growth. Last week, its State Council announced an avalanche of measures to help spur new firm formation. Tax exemptions, regulatory reform, increasing access to capital, government procurement rules favoring new firms, policies to promote rural startups, programs to shape an entrepreneurial culture and efforts to position Shanghai as a global hub for innovation have created a big buzz among Chinese entrepreneurs.
Photo credit: Yoel Ben-Avraham
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