These 9 countries have the highest levels of entrepreneurship
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Future of Work
Running your own business has its perks — more control, no boss, and choice of working hours.
In the UK and the US, entrepreneurs are associated with startups. But in some countries, becoming self-employed is a necessity rather than a dream. You have to make your own opportunities when there are not many jobs available.
According to research by the UK-based business-networking group Approved Index, the US ranks 41st in the world for having the most entrepreneurs, who make up 4.3% of the adult population. Meanwhile, Britain ranks 37th with 4.6%.
The number is calculated by the percentage of the adult population that owns or co-owns a new business and has paid salaries or wages for three or more months.
The countries with the most entrepreneurs are going through a commercial revolution.
“In countries where the economy is poorer, or where unemployment rates are high, citizens turn to starting their own small businesses where they see opportunity,” Trilby Rajna of Approved Index said. “I am South African and will never forget the makeshift cardboard photo booth pitched outside the traffic department in Cape Town.
“All that was needed was a camera, a portable printer, and a plain wall. People like myself who had forgotten to bring ID photos along for their license were queuing up outside. It was an excellent idea.”
This article is published in collaboration with Business Insider. Publication does not imply endorsement of views by the World Economic Forum.
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Author: Lianna Brinded is the Finance Editor based in London.
Image: Traditional Incandescent light bulbs are seen. REUTERS/Michael Dalder.
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