The power of three: EY G20 Entrepreneurship Barometer 2013

UK Spotlight

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Together, governments, entrepreneurs and corporations can spur growth across the G20

Our G20 Entrepreneurship Barometer 2013 reveals that the UK is one of the top five countries in the G20 for entrepreneurs.

A competitive tax system, business friendly regulations, skilled workforce and dynamic financial markets have given the UK its edge, and seen spending on Research & Development exceed the G20 average by over 0.2%. Domestic credit in the private sector, as a proportion of GDP, was almost double the G20 average – 209.5 compared to 99 in the G20.

However, the report, launched ahead of the G20 Leaders Summit, warns that greater collaboration is needed between Government, business and entrepreneurs if the UK is to retain its leading position.

Other countries considered top for entrepreneurship are Australia, Canada, South Korea and the US.

The Barometer is based on a survey of over 1,500 entrepreneurs – including 55 from the UK – plus quantitative data on entrepreneurial conditions and EY research into more than 200 government practices. Countries are ranked on funding, culture, tax and regulation, education and training, and coordinated support.