The UK has acquired the title of Europe\u2019s most entrepreneurial country.\u00a0 It is the first time that the UK has laid hand to the accolade, after jumping five places globally to reach the fourth position worldwide.<\/p>\n
The findings emerged from 2015\u2019s Global Entrepreneurship Index (GEI), in which the UK has shown steady yearly improvement since 2012.\u00a0 It is now positioned behind the USA,Canada and Australia.<\/p>\n
Over the past six years theUK\u2019s economy has been hard hit in the backlash of the global recession, with traditional business attitudes upturned alongside a dramatic shift to a digital world.\u00a0 Retail in particular has struggled, with vacant high street buildings laying testament to a changing economic landscape.<\/p>\n
The GEI\u2019s findings reflect theUK\u2019s nationwide engagement with start-ups, tackling new areas of growth, especially withinLondon\u2019s booming tech market, which is now one ofEurope\u2019s largest start-up hubs \u2013 attracting billions in investment each year.<\/p>\n
In the report, the GEI noted thatBritain\u2019s rise in ranking is due to strong performance in entrepreneurial attitudes and abilities, specifically citing governmental support as a key factor in the rise of entrepreneurships.\u00a0 However, despite the strength ofLondon\u2019s tech scene and widespread engagement with start-ups across the country, the GEI still valued theUK\u2019s \u2018entrepreneurial aspirations\u2019 as \u2018weak\u2019.<\/p>\n
Meanwhile, theUK\u2019s greatest strength, the GEI said, was its ability to find and create unique products, with a prevalence of highly skilled and educated entrepreneurs.<\/p>\n
In response to the survey, Business Secretary Vince Cable praisedUKbusiness.<\/p>\n
He said: \u201cDespite tough economic times, we have jumped 10 places in just two years to be the number one enterprising nation inEurope.<\/p>\n
\u201cOur industrial strategy will continue this legacy by providing an environment where businesses can innovate and have confidence to invest in new ideas for long-term growth.\u201d<\/p>\n
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