Entrepreneurship is the ability to seize new business opportunities and one way of exploiting new market opportunities is to start new enterprises.
How does the UK perform?
The Global Entrepreneurship Monitor (GEM) 2000 survey looked at whether the level of entrepreneurial activity varied between countries and found that the UK had a medium level of entrepreneurship. The results show the UK performing better than Japan and France but not as well as Canada, Italy, the US and Germany (Chart 4.10.1). This is despite the relative absence of direct regulatory barriers in the UK (chart 4.10.2).