Quantcast

US still top in entrepreneurship

Published: Wednesday, Jan. 11 2012 4:56 p.m. MST

In this June 12, 2010 photo provided by Elizabeth Fuller, participants in a Startup Weekend work in groups to create a new business on Saturday evening in New York.

Associated Press

Enlarge photo»

Even with this sluggish economy, the U.S. is still the best country in the world to start a new business, according to the 2012 Global Entrepreneurship and Development Index.

The index ranked 79 countries based on their entrepreneurial characteristics and also pointed out the strengths and weaknesses of their economies. These factors put the U.S. on top, followed by Sweden and Australia.

The rest of the top 10 included Iceland, Denmark, Canada, Switzerland, Belgium and Norway. The Netherlands and Taiwan tied for the No. 10 spot.

The economic crisis across the globe caused entrepreneurship to suffer in most nations. However, some nations saw an increase in entrepreneurship. Hungary, the United Arab Emirates and Uruguay had the biggest gains in entrepreneurship.

The growth in entrepreneurship in the U.S. saw an increase of 13,725 franchise units in Entrepreneurs' top 500 companies alone, from 20120-2011, according to Entrepreneur. That's an increase of about 16 percent from the previous year and a good sign that things might be getting better for franchises and franchisees, according to Entrepreneur.

There may be an increase in franchise units, but some businesses are struggling.

The lack of snow this winter has resulted in bad ski conditions, a smaller amount of tourists, and hardship for small businesses, according to the Huffington Post.

Some resorts only have 25 percent of their annual snowfall. This is a huge difference compared to last season, reports the Huffington Post, when some resorts reportedly had snow levels almost 200 percent of their annual average.

The Huffington Post also reported that many skiers and snowboarders have stayed away from the resorts because of the poor snow conditions, which has resulted in fewer customers for small businesses around the resorts.

Snowfall in Utah is currently about 50 percent below its average, which has some businesses struggling to make up for the loss of ski-related customers. Kirkham's, an outdoor retailer in Salt Lake City, has seen a decrease in sales because of the snow drought, according to the Huffington Post.

"We've seen a decrease in ski and snowshoe sales, as well as all the related apparel products since November," Andy Church, sales manager at Kirkam's, told the Huffington Post. He said the lack of snow caused the store to start its Christmas sale before Christmas.

bbullock@desnews.com

Get The Deseret News Everywhere

Subscribe

Mobile

RSS