Among the global economic upheavals of the past two decades, here’s one worth cheering about: the worldwide spread of entrepreneuriship. Anyone who doubts that should have headed to Monaco last weekend for the World Entrepreneur of the Year awards ceremony.
The 42 countries represented at the event included China and several former Soviet-bloc nations - places where starting a private business was illegal not so long ago. In other countries, the weakening of traditional business structures, such as Korean chaebol, have created opportunities for smaller players. Tax and regulatory reform, the lowering of protectionist barriers, technological advances and the rise of the Internet, all have made it easier — though certainly not easy - to create and build a business.
Ernst & Young started the competition in the U.S. in 1986 and expanded it worldwide 10 years ago. More than two-thirds of this year’s 5,000 contestants were from outside the U.S. The finalists included the heads of emerging-market powerhouses such as Indian industrial conglomerate Mahindra Group, and Geely Automobile Holdings, a Chinese automaker that recently bought Volvo, and dozens of lesser-known success stories.
To read the full, original article click on this link: Entrepreneurship Goes Global - BusinessWeek
Author: Carol Matlack
