Angola Leads Global Rankings for Entrepreneurial Activity in 2022/2023

Luanda – Angola has clinched the top spot among the most entrepreneurial countries globally for the years 2022/2023, as per a report by the Global Entrepreneurship Monitor (GEM).

According to a new release by Angola Press News Agency, Angola leads with an entrepreneurship rate of 53.4%, followed by Guatemala with 29.4% and Panama with 27.9%. The report states that 77% of respondents in Angola find it easy to start a business, aligning the nation with countries such as Sweden, Poland, and India.

A significant 78% of surveyed Angolans have intentions to start a business within the next three years, citing ease in business opening procedures. Additionally, 90% of the 2,148 Angolan entrepreneurs participating in the study indicated that entrepreneurship serves as a sustenance mechanism due to limited job opportunities.

The GEM report attributes the surge in entrepreneurial activity in Angola to high unemployment levels, pushing individuals to create businesses. Established in 1999, GEM is known for its extensive global research on entrepreneurship, featuring data from more than 300 academic and research institutions across over 100 countries.