LONDON The UK is one of the most entrepreneurial countries in the world and ahead of other major European countries, according to research published by Global Entrepreneurship Monitor (GEM) 2004.
GEM also find the gap between male and female entrepreneurs closing in the UK with big increases in female business start-up activity have occurred in many of the regions outside London.
While the UK’s entrepreneurial rate is higher than Germany, Japan, Italy and France, it is lower than the US and Canada.
The proportion of people expecting to start a business over the next 3 years has increased significantly from 7.8% of the population in 2002 to 9.5% in 2004.
The levels of entrepreneurial activity amongst students increased from 0.9% in 2003 to 2.3% in 2004. Female students are more likely to be engaged in entrepreneurial activity than male students.
The research also shows that ethnic minorities make a large and important contribution to the success of the UK economy with entrepreneurial activity amongst most ethnic minority groups is substantially higher than for white people.