U.S. Ranks Third In Entrepreneurship

A report released by the Office of Advocacy of the U.S. Small Business Administration, found the United States ranks third overall for entrepreneurship, first in entrepreneurial aspirations, sixth in entrepreneurial attitudes, and eighth in entrepreneurial activity.

The findings are based on the Global Entrepreneurship and Development Index (GEDI), a research tool that captures the contextual features of entrepreneurship in 71 countries.

“Entrepreneurship is essential for an economy to grow and flourish,” said Winslow Sargeant, Chief Counsel for Advocacy.

“This important study provides a better understanding of our strengths and where we need to improve in order for us to compete in a global economy.”

The GEDI’s detailed rankings compare U.S. entrepreneurship and U.S. performance vis-à-vis the world’s other major economies. In particular, the index reveals that the United States is among the world leaders in startup skills; it is a leader in competition; and it is first in developing new technologies.

Comparatively, the United States needs to strengthen its technology sector, cultural support for entrepreneurship, and for high-growth businesses. The report found that in many respects a slowdown in U.S. entrepreneurial activities may be a reflection of the progress made by the rest of the world—learning from the U.S. model and beginning to catch up.