Apr 29, 2014

Taiwan: Ranking 8th In The World For Super-entrepreneurs

Taiwan ranked eighth in a list of countries with the most super-entrepreneurs per capita published on 28 April 2014 by the British think tank “Center for Policy Studies”.

Below is an article published by Taiwan Today:

Taiwan ranks eighth in the world for the number of super-entrepreneurs per capita at 0.817 per million population, or 19 individuals, according to an April 28 [2014] report by U.K.-based think tank Center for Policy Studies.

In Asia, Taiwan is surpassed by Hong Kong, ranked first with 2.831 super-entrepreneurs per million people, and Singapore, fifth, and followed by Japan, 15th, and South Korea, 26th. The U.S. has the largest number of super-entrepreneurs at 411.

CPS used listings of the world’s billionaires produced by Forbes magazine from 1996 to 2010 as the raw material to devise the rankings. A total of 1,000 U.S. dollar billionaires, whose money had come from business rather than inheritance, were categorized by country and business sector.

This crop of post-World War II billionaires controls half of the world’s major enterprises. Most of their wealth comes from business, and they have generated a lot of wealth for society at large in the course of becoming rich themselves. Many of the self-made super-entrepreneurs come from rather ordinary backgrounds, and became rich through diligence and innovation.

According to the report, countries near the top of the list have lower tax rates and less restrictive regulatory environments but more widespread philanthropy. Governments can reduce taxes, particularly capital gains tax, loosen regulations and strengthen property rights to achieve the same ends.

Most super-entrepreneurs are well-educated. In the U.S., only 16 percent of them are not university graduates, and the percentage of holding a PhD is five times the national average.

Many successful entrepreneurs started off from small companies, but there is no clear relationship between self-employment and successful entrepreneurship. Greece, Italy, Portugal, Spain and Turkey all have high rates of self-employment, but relatively low rates of innovative enterprises.

By contrast, the U.S. has a relatively low rate of self-employment, especially in Silicon Valley where the rate is about half the California average.

The report suggested that government policy should not be directed toward promoting self-employment, but toward developing entrepreneurial spirit based on innovation. This also matches a nation’s aim for achieving technological progress and economic growth to boost the wealth of the entire population, the report said. (SDH)