Entrepreneurship at a Glance 2011 takes a look at OECD countries entrepreneurial activity and finds that the number of startups in Australia is returning to its 2007 levels.
A new OECD report, called Entrepreneurship at a Glance 2011, takes a deep look at OECD countries around the world and their entrepreneurial activity. The report finds that the number of startups in Australia is returning to its 2007 levels after a decline between 2008 and 2010, which puts Australian entrepreneurship among those recovering better from the crisis.
When compared to other countries, France is the only country that can rival Australia, with new enterprise recovery back to 2007 levels.
The UK is also recovering well and the U.S. has been somewhat stable, though both experienced a lower number of new enterprises than Australia per capita.
On the other side of the spectrum is Spain, which took a big dive in 2007 and doesn’t seem to be recovering.
The report also shows that the number of bankruptcies in Australia has also been declining, having reached its peak by the end of 2008. Internationally, Denmark and the U.S. had the biggest number of bankruptcies, achieving their peaks in 2009 and starting to decline in 2010. Canada experienced the lowest number of bankruptcies, which has been declining progressively since 2006.
An entrepreneurship paradise
The report also shows that Australia is an entrepreneurship paradise, in comparison to many other OECD nations, ranking the country in number two in its list of countries with least restrictions to start a business (New Zealand took out the number one slot), and ranking number seven in the list of countries with the least administrative burdens for startups.
The countries where it is most difficult to start a business are Greece and Spain. China leads the list of countries where startups have the highest administrative burdens.
The country where the most venture capital is dedicated to startups is Israel, with 0.18% of GDP, followed by the U.S. and Sweden. According to the report, Australia dedicates almost 0.06% of GDP to finance startups.
Photo by Iljimae
