Entrepreneurship in the UK

How does the UK compare to the rest of the world when it comes to entrepreneurship? According to the Global Entrepreneurship Monitor 2007, 10.5% of us are involved in setting up or running our own business.

This puts us at a pretty mediocre 15 out of 23 high income countries. Iceland, Greece and Ireland top the list, with the US coming in at number 6 and Japan at number 10.

Amongst the rest of the population, 24 per cent are 'potential entrepreneurs' who feel that they have the capabilities and opportunities to start a business. But fear of failure often holds people back - 37 per cent of people say it's an issue for them.

We're developing Smarta to give practical support and advice to people at all stages of the business journey, whether they're 'thinking', 'creating' or 'growing' their business.

What else should the UK be doing to encourage more people to take the step from thinking about starting a business to actually doing it?

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