The world is currently made of approximately 7 billion people. Out of this number, about 400 Million individuals are entrepreneurs. This could also be translated to 1 in every 18 persons being their own bosses. The interesting fact being that the majority of these entrepreneurs are in the developing world.
The world’s largest economies, USA, China, and Japan report dismally in the list of most entrepreneurial countries. The US ranks 42nd, with 4.1 percent rate of entrepreneurship; China has 3.12 percent of its population in entrepreneurship, while Japan is the world’s fourth least entrepreneurial country, with only 1.3 percent of its population in self-employment. Further rankings show Puerto Rico and Italy holding the same position as Japan and France having 1.7 percent of its residents in self-employment.
In the developing, the findings are different. The most entrepreneurial countries in the world are Uganda with 28.1 percent of its residents being self-employed; Thailand, 16.7 percent; Brazil, 13.8 percent; Cameroon 13.7; and Vietnam, 13.3 percent. The reason for this variation is said to be the fact that the developing nations have unexploited opportunities which their developed counterparts lack.
The feeling about entrepreneurship
2 out of 3 people feel that entrepreneurship is a great career move. The sense of entrepreneurship differed from one country to another. In Guatemala, 95.62 percent of the people believed that entrepreneurship was a move they would like to pursue while only 16.73 percent of Puerto Ricans shared the sentiments. In Kazaskhan, 75.42 percent of the people polled expressed their fear of failure where only 14.74 of Barbadians felt the need to fear. In Norway, only 4.78 percent of the participants felt the urge to start their own businesses in 3 years, while on the other side of the world, 61.87 percent of Botswana polled in the affirmative.
There is a bright future waiting for female entrepreneurs. In 2012, women owned 36% of all business. This is an increase of over 30% since 2007. Jack Ma, Founder and CEO of Alibaba currently employs more women in his workforce than men. With 52% female employees, he knows that ‘Women balance the logic and the instinct’. He believes that men care more about themselves while women care more about others.
Where should I go as a woman to start my business? The top 5 countries according to their opportunities for female business owners ranked on a scale from 0 to 100 are the US (71), Canada and Australia (69), Sweden (68) and the UK (65). On the other hand, less recommendable are Tunisia (29), Egypt (24), India (17), Pakistan (14) and Bangladesh (12). Unfortunately, the world has not reached total equality yet. 61% of all countries still score below 50 out of 100 for women entrepreneurs’ opportunities.
Created by DealSunny
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