Iconic Strategies Ltd

A new study called ‘SuperEntrepreneurs – and how your country can get them’ undertaken by the Centre for Policy Studies has found that the UK is in 11th position worldwide of producing super entrepreneurs. Great Britain comes behind Canada and Australia but is nearly twice as successful as the average of the Euro zone countries. Simon Reynolds, Managing Director of outsourced event marketing firm Iconic Strategies, says: “In my opinion, the UK is a great place to start a business. The Government needs to focus on supporting entrepreneurs in the long-run in order to remain competitive with other countries, especially within Europe.”

The data of the ‘SuperEntrepreneurs’ study reveals that the highest rate of ‘super-entrepreneurs’ is found in Hong Kong with 2.8 ‘super-entrepreneurs’ per million citizens. Israel comes second with a rate of 1.8 per million and the U.S. is on third position with 1.3 per million. For the study, the Centre for Policy Studies looked at the backgrounds of 996 self-made male and female entrepreneurs who have earned at least $1 billion and have appeared in the Forbes list of the world’s richest people between 1996 and 2010, the ‘SuperEntrepreneurs’.

With the UK ranking 11th, Simon Reynolds of Iconic Strategies comments: “We may not have as many ‘super-entrepreneurs’ as the U.S. or Canada for example; however the fact is that Great Britain is an amazing country to start and run a business.” New figures from StartUp Britain show that a record number of 526,446 businesses were registered with Companies House in 2013, beating the 484,224 businesses recorded in 2012 and 440,600 in 2011.

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British businesses create employment and therefore the Government needs to think of how to support British entrepreneurs on a long-term basis in order to encourage innovation and business growth. “Innovation is the key. We need to create an environment where entrepreneurs can take risks easier and learn from their mistakes. This way, they have room to innovate without feeling that taking risks could have a strong impact on their success in business,” says Simon Reynolds of Iconic Strategies.

 The International Finance Corporation and The World Bank have rated the UK 10th out of 189 countries in their annual ‘Doing Business’ report, which determines how easy it is to set up and run a business. “I am very positive that the UK is a great place for entrepreneurs. All we need is more long-term support by creating effective support structures,” says Simon Reynolds of Iconic Strategies. “Tax reduction and funding schemes, implemented by the Government, are great first steps; but we would love to see more room for innovation in order to remain competitive with countries such as the U.S. and within the Euro zone,” summarises Simon Reynolds.

Sources:

http://www.virgin.com/richard-branson/long-term-thinking-needed-to-support-entrepreneurs

http://www.telegraph.co.uk/news/politics/10791836/Entrepreneurs-power-the-best-economies.html

http://www.startupbritain.co/news/2014-01-26/new-figures-reveal-regional-entrepreneurial-hotspots


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