UK leads Europe for entrepreneurship
Trade and Industry Secretary Patricia Hewitt has welcomed new research showing that the UK is Europe’s most entrepreneurial major economy.
The research places Britain ahead of Germany, France and Italy for the percentage of the population engaged in entrepreneurial activity.
It also highlights that the gap between male and female entrepreneurs is closing, as the UK experiences a big increase in activity by the latter.
The annual Global Entrepreneurship Monitor, which is part funded by the DTI, shows that 6.3 per cent of the UK population is engaged in entrepreneurial activity. This compares to 6.1 per cent in France, 4.5 per cent in Germany, 4.3 per cent in Italy and 1.5 per cent in Japan, although the UK is still behind the US and Canada.
Patricia Hewitt said: “Today’s report shows that the UK is one of the most entrepreneurial countries in the world and is a better place to start and grow a business than ever before. This is down to the hard work of Britain’s successful entrepreneurs.”
The report also highlights big increases in female start-up activity in many areas outside of London, with the gender gap at its closest in the South West where female entrepreneurship is 70 per cent of the male level. The gap is largest in the West Midlands where levels of enterprise are three times higher among men than among women.
Ethnic minority groups are more likely to engage in entrepreneurial activity than white people, the report found.
Researchers also uncovered significant regional variations.
Wales has the highest number of high-growth start-ups at 40 per cent, while Yorkshire and Humber has the lowest at 11.1 per cent.
Meanwhile, the South West is the region for technology start-ups, accounting for 29.9 per cent of all start-up activity. The North East has the lowest number of technology start-ups at 4.2 per cent.
