Where is the best place in the world to become an entrepreneur?
Researchers at the Legatum Institute, a London think tank, have recently published their 2010 Prosperity Index, which ranks 110 countries’ happiness. As part of their research, Legatum also looked at other subsections, including entrepreneurship.
Here are the top ten best countries to become an entrepreneur:
- Denmark (happiness rank: 2)
- Sweden (6)
- United States (10)
- Finland (3)
- United Kingdom (13)
- Norway (1)
- Ireland (11)
- Singapore (17)
- Iceland (12)
- Canada (7)
And the five worse countries in which to set up shop are… Yemen, Cameroon, Mali, Ethiopia and Zimbabwe.
But what makes a country a “good” place to become an entrepreneur? According to Legatum, it needs to have “a strong entrepreneurial climate in which citizens can pursue new ideas and opportunities for improving their lives, leading to higher levels of income and wellbeing”.
Specifically, the Legatum researchers looked for entrepreneurial environments, innovative activities and access to opportunity.
Having the UK in fifth place is a good result – entrepreneurship is key to a successful growth economy: individuals experience the satisfaction that comes from earning their success and society becomes more prosperous.
What would make the UK more entrepreneurial? What’s holding us back from taking the top place?
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