Five themes from the EY G20 Entrepreneurship Barometer 2013
1. Substantial opportunity to improve entrepreneurial ecosystems
The Barometer shows rapid-growth market entrepreneurial ecosystems lagging behind the developed G20 economies, with the exception of South Africa, which ranked in the second quartile of countries for its overall performance.
2. Working hard to close the gap
Entrepreneurs surveyed in rapid-growth markets reported a much faster rate of improvement in tax and regulation and access to entrepreneurial education than their more developed G20 peers.
3. Access to funding is a top priority for action
Specific funding issues are diverse across the rapid-growth market group. For example, in Argentina, which scored the lowest of all countries on access to funding, limited access to venture capital and soft IPO market activity are major drivers.
4. Shifting entrepreneurship culture to support new business creation
Attitudes regarding risk, failure, entrepreneurship as a career choice and celebration of self-made wealth are also important in creating a supportive entrepreneurship culture. The G20 rapid-growth market economies were largely in the bottom two quartiles across these metrics.
5. Catalysts to boost their growth and development
Conditions are ripe in rapid-growth markets with greater economic opportunities for entrepreneurs across various areas. Albeit for a diverse range of reasons, entrepreneurs surveyed are right to be positive about the prospects ahead.
Still, more needs to be done from a policy perspective to accelerate gains and avoid the pitfalls that more established markets may have encountered.
The EY G20 Entrepreneurship Barometer 2013 introduces a model for scoring countries across the five pillars of entrepreneurship. The purpose of this model is to help identify areas of strength by country and where opportunities for improvement lie.
Whether you represent the government, entrepreneur or corporate viewpoint, the Barometer serves as a critical planning tool allowing you to leverage the strengths available within your country, as well as opportunities for further development.
Use the charting tool at the following link to create your own charts for presentations and reports.