The United States stands out as a land of innovation and opportunity, with Silicon Valley and its legendary tech innovators, and Americans tend to think of themselves as very entrepreneurial. This culture of innovation and business acumen is inherited from inventors such as Henry Ford and Thomas Edison, who changed the world.
But how does the United States stack up against the rest of the world?
A report by Wharton Business School revealed that the top nation for entrepreneurs is not actually the United States—it’s Germany.
Marketing professor David Reibstein and his colleagues prepared the report based on a survey conducted with about 16,500 global citizens—a mix of the general population, the business world, and academia.
“Germany grabbed the top spot for perceived readiness for entrepreneurs and also took the overall title of Best Country,” the report stated.
Japan came in second, and the United States was third. In fourth and fifth place were the U.K. and Canada, respectively.
These five countries were named as “well-established economies that have the resources to support new endeavors, both legally and financially.”
The top 10—which includes Sweden, the Netherlands, Australia, Singapore, and Denmark—together account for 31 percent of the world’s Gross Domestic Product (GDP).
