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Latest News / Report highlights countries with the most determined entrepreneurs

 

Brazil example

Three Shell LiveWIRE countries have been revealed to have some of the world’s most determined entrepreneurs, according to a new global ranking based on World Bank data. Three LiveWIRE countries featured in top ranking positions, with Brazil in 5th place, South Africa in 15th and Gabon in 4th. Botswana, Malta and Timor-Leste were found to contain the most determined entrepreneurs of all countries.

The study, which correlated how challenging it was to start a business in a region with the number of businesses started, was notably different from traditional rankings of entrepreneurial spirit. The majority of high ranking countries were developing nations who face severe financial, political and infrastructure barriers to entrepreneurship, with the notable exception of the US, which scored highly in particular due to the challenges of red tape and its associated costs.

The report also highlighted countries with the greatest amount of missed opportunities for entrepreneurship; identifying those with the lowest determination using the same methodology. Azerbaijan, Afghanistan and Uzbekistan led these rankings, which also featured LiveWIRE country, Oman, in 8th position.

On her findings, Bobbi Brandt at Expert Market commented, “I don't think there is one universal reason why it is more difficult to start businesses in these nations. However, it usually comes down to government requirements for new ventures being numerous, time consuming, costly, or a combination of all three."

You can view the rankings and explore more about their insights here.



 

Report highlights countries with the most determined entrepreneurs
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