Finance Hunter Ruthven · 28 November 2016
UK better place to start a business than US and most of Europe
A new body of research published by Mara Foundation has revealed Britain is statistically an easier place to start a business than many of its economic rivals. The first annual Ashish J Thakkar Global Entrepreneurship Index placed the UK fifth overall, behind the likes of Singapore, New Zealand and Canada, but ahead of the US, Germany, Japan, Australia and China. Countries were ranked on policy, infrastructure, education, entrepreneurial environment and financial, with the UK scoring 382 out of 500. It scored best for policy (85 out of 100) and financial (84), with its worst category being entrepreneurial environment (65). In examining the state of entrepreneurship and best nations to start a business, the survey commended the UK for its ability to provide a supportive financial culture for entrepreneurs to flourish in. The UK is noted for its attractiveness to investors in venture capital and private equity, beaten only by the US. Its policy pillar score is, according to a statement, due to the framework put in place by the government to encourage entrepreneurs with the pillar excelling? due to the lack of perceived risk stemming from its high credit rating and the economic freedoms afforded by its open approach to capitalism. Similarly to the UK, Singapore’s policy (93) and financial (90) scores saw it rank first in the index with 395 points bettering New Zealand by only one mark. Antipodean entry New Zealand has the best global score for education (92) but fared poorly for entrepreneurial environment (58).
ABOUT THE EXPERTHunter Ruthven
Hunter Ruthven was previously editor of Business Advice. He was also the editor of Real Business, the UK's most-read website for entrepreneurs and business leaders at the helm of growing SMEs.