The SBA’s yearly Global Entrepreneurship and Development Index was released this month and had some surprising results for both the U.S. and Puerto Rico.
The index, according to the executive summary released with the report:
. . . builds on and improves earlier measures by capturing quantitative and qualitative aspects of entrepreneurship. It measures entrepreneurial performance in 71 countries over three sub-indexes, 14 pillars, and 31 individual and institutional variables. The United States appears among the top entrepreneurial economies and ranks third on the GEDI.
It has long been held that the U.S. is the land of opportunity, especially for budding businesspeople, so this new finding brings a shocker to our country.
But perhaps, just as shocking is Puerto Rico’s rise to number #17.The information may be slightly misleading, given that part of the reason Puerto Rico has risen in the rankings, despite declining scores in the index, is the fact that the rest of Latin America, and frankly the world, has fallen more rapidly.
However, given that Puerto Rico is on par with developed countries such as Germany and ahead of all Latin American countries as well as countries such as France, Japan, and South Korea says a lot about the welcoming environment of the small Caribbean island.
Perhaps now is a good time to invest in Puerto Rico.
You can find the entire report here.