In 2023, experts in South Korea rated the national market dynamics for entrepreneurial activity highly, allocating a score of 7.5 out of 10. In contrast, national experts in Japan rated local entrepreneurial education at school with a score of 2.2.
Entrepreneurial Framework Conditions (EFCs) index in selected countries in Asia in 2023, by condition
On its methodology, the source states the following:
"The NES is completed by selected experts in each GEM economy and collects views on the context in which entrepreneurship takes place in that economy. It provides information about the aspects of a country’s socio-economic characteristics that, according to research, have a significant impact on national entrepreneurship: referred to as the Entrepreneurship Framework Conditions (EFCs)."
A1. Entrepreneurial Finance Are there sufficient funds for new startups?
A2. Ease of Access to Entrepreneurial Finance: And are those funds easy to access?
B1. Government Policy: Support and Relevance: Do they promote and support startups?
B2. Government Policy: Taxes and Bureaucracy: Or are new businesses burdened?
C. Government Entrepreneurial Programs: Are quality support programs available?
D1. Entrepreneurial Education at School: Do schools introduce entrepreneurship ideas?
D2. Entrepreneurial Education Post-School: Do colleges offer courses in starting a business?
E. Research and Development Transfers: Can research be translated into new businesses?
F. Commercial and Professional Infrastructure: Are these sufficient and affordable?
G1. Ease of Entry: Market Dynamics Are markets free, open and growing?
G2. Ease of Entry: Burdens and Regulation Do regulations encourage or restrict entry?
H. Physical Infrastructure: Is this sufficient and affordable?
I. Social and Cultural Norms: Does culture encourage and celebrate entrepreneurship?
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GEM. (February 13, 2024). Entrepreneurial Framework Conditions (EFCs) index in selected countries in Asia in 2023, by condition [Graph]. In Statista. Retrieved November 26, 2024, from https://www.statista.com/statistics/1456414/asia-entrepreneurial-conditions-index-by-country/
GEM. "Entrepreneurial Framework Conditions (EFCs) index in selected countries in Asia in 2023, by condition." Chart. February 13, 2024. Statista. Accessed November 26, 2024. https://www.statista.com/statistics/1456414/asia-entrepreneurial-conditions-index-by-country/
GEM. (2024). Entrepreneurial Framework Conditions (EFCs) index in selected countries in Asia in 2023, by condition. Statista. Statista Inc.. Accessed: November 26, 2024. https://www.statista.com/statistics/1456414/asia-entrepreneurial-conditions-index-by-country/
GEM. "Entrepreneurial Framework Conditions (Efcs) Index in Selected Countries in Asia in 2023, by Condition." Statista, Statista Inc., 13 Feb 2024, https://www.statista.com/statistics/1456414/asia-entrepreneurial-conditions-index-by-country/
GEM, Entrepreneurial Framework Conditions (EFCs) index in selected countries in Asia in 2023, by condition Statista, https://www.statista.com/statistics/1456414/asia-entrepreneurial-conditions-index-by-country/ (last visited November 26, 2024)
Entrepreneurial Framework Conditions (EFCs) index in selected countries in Asia in 2023, by condition [Graph], GEM, February 13, 2024. [Online]. Available: https://www.statista.com/statistics/1456414/asia-entrepreneurial-conditions-index-by-country/