Top Countries For Entrepreneurs

Do you consider yourself an entrepreneur or plan on becoming one soon? The latest study from Ipsos shows that you’re not alone!

A poll across 26 countries shows that 31% of people say they have started a business at some point, while a further 29% plan to do so in the near future.

Which Countries Are The Most Entrepreneurial?

The study shows Peru, Colombia and Mexico with the highest share of residents saying they have started their own business at some point, at 54% (for both Peru and Columbia) and 53% (for Mexico). Columbia and Mexico also have the highest rates of ‘wannabe’ entrepreneurs, with 58% and 55% of people respectively saying that they hope to start their own business soon.

At the other end of the spectrum, Japan has the lowest rates, both for those claiming to have already set up their own business (9%) as well as those hoping to do so in the future (8%). Sweden, Belgium and the Netherlands are other countries whose residents showed significantly lower levels of interest in starting their own businesses going forward.

Positive & Negative Factors For Entrepreneurs

Positive & Negative Factors For Entrepreneurs

So what are the differences between countries that are producing more or fewer entrepreneurs? Of those surveyed, government support (or lack thereof) was identified as an important factor. This is understandable, of course, since this, along with inflation and interest rates, makes it far more feasible for an up-and-coming business to get a foothold in the increasingly competitive marketplace.

Very much in line with the (approximately) one-third of people saying they have started or are looking to start their own business, a similar amount of people asked (only 30%) feel that their government is doing enough to encourage, support and enable entrepreneurship there.

With the importance of a country’s government helping entrepreneurs (or not) through financial avenues, it’s no surprise that the primary reason given for would-be business owners being unable to start their own business is money. A lack of funding ranks as the biggest obstacle, followed by the overall financial state of the economy.

In the UK at least, in recent months, general consumer confidence has fallen to its lowest levels since records began (according to GfK — Growth From Knowledge), which is another pivotal factor. That is, even if a would-be self-starter feels confident enough to try and get their business off the ground, consumers have been increasingly reluctant to spend at all, perhaps less so on a new brand they are unfamiliar with.

Business Quotes for Entrepreneurs

Business Quotes for Entrepreneurs

The overall feeling of this recent Ipsos survey is that the outlook is positive for entrepreneurial activity going into the rest of 2022 and beyond. You can read more results from the study and find out additional information, such as how those groups that would traditionally not have the opportunity to demonstrate their entrepreneurship are being afforded the chance to follow their aspirations and succeed in the business world.

Here at Business Quotes, whether you’re a would-be entrepreneur or an established business owner, we can help you to find the most competitive costs for all your business needs. If you want to find the best EPOS systems in the UK, compare card machines for small businesses or find the most affordable franking machine costs – plus much more! – we can help.

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