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U.S. ranks high in global entrepreneurship

U.S. ranks high in global entrepreneurship

The United States ranks high in entrepreneurship, as measured against other countries, according to a paper, “Global entrepreneurship and the United States,” released by the Office of Advocacy of the Small Business Administration.

Authors Zoltan J. Acs and Laszlo Szerb found that the United States ranks third overall in entrepreneurship: It ranks first in entrepreneurial aspirations, sixth in entrepreneurial attitudes, and eighth in entrepreneurial activity. The GEDI is a research tool that captures the contextual features of entrepreneurship in 71 countries.

The paper can be downloaded at www.sba.gov/advo/research/rs370tot.pdf.

The paper’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.

The paper also suggests the United States needs to strengthen its technology sector and cultural support for entrepreneurship. 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.

The paper captures the contextual features of entrepreneurship by focusing on three broad areas. The first is entrepreneurial attitudes, a society’s basic attitudes toward entrepreneurship through education and social stability. The second area of focus is entrepreneurial activity, what individuals are actually doing to improve the quality of human resources and technological efficiency.

The final area is entrepreneurial aspirations, how much of the entrepreneurial activity is being directed toward innovation, high-impact entrepreneurship, and globalization.

 For more information and a complete copy of the report, visit the Office of Advocacy website at www.sba.gov/advo.


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