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Attractiveness of the UK to entrepreneurs


The international competitiveness of the UK’s entrepreneur visa routes needs to be considered alongside the wider UK business environment. The UK scores highly in a number of international rankings which compare business environments across countries. For example, the UK ranked 8th in the World Bank’s 2015 Doing Business index, and 9th in the World Economic Forum’s Global Competitiveness Report. According to the Global Entrepreneurship Index, the UK is the best country in Europe in which to set up a business, and ranks 4th in the world after the USA, Canada, and Australia.


Index

Rank

Criteria for which the UK scored highly:

Global Entrepreneurship Index 2015

4th

●  Unique ideas

●  High proportion of entrepreneurs in the UK are motivated by opportunities rather than necessity

●  High quality human capital

●  Risk Acceptance – entrepreneurs not deterred by high levels of risk

World Bank 2015 Doing Business Index

8th

●  Protecting minority investors

●  Ease of paying taxes

●  Resolving insolvency

Global Competitiveness Report 2015

9th

●  Efficient labour market

●  High level of financial development

●  High uptake of information and communication technologies (ICTs)


  • Source: The Global Entrepreneurship and Development Institute; World Bank; World Economic Forum.