Shopify Beta Launches World’s First Global Entrepreneurship Index

The United States, Lithuania and Romania rank in the top three.#1 in Delaware, USA

We often talk about entrepreneurial power.but just how powerful? What impact will that have on the economy? And what is the environment that offers entrepreneurs the best chances of success? You’ve never been able to find all the answers to these questions in one place. . There is now.

We are releasing a beta version today. Shopify Entrepreneurship Index: The world’s first home to data and insights on global entrepreneurship across 40 countries and every U.S. state.

Shopify powers millions of businesses around the world, giving you the data and networks you need to build something that never existed before: a comprehensive dataset on entrepreneurship around the world.

The Shopify Entrepreneurship Index measures the economic impact entrepreneurs within Shopify’s ecosystem have on the national economy, tracking the fastest growth and biggest contributions. Today we are releasing a beta version of this index. We are just getting started. In the future, we will add more data aimed at providing leaders with the insights they need to inspire smart policies and harness the power of entrepreneurship. This index will continue to be updated quarterly.

In 2022, Shopify entrepreneurs will be:

• Supporting 5.2 million jobs (up 8.3% from 2021)
• Generated $27.7 billion in exports (+7%)
• Contributed $229.3 billion to GDP (+8.8%)
• Generated $490.5 billion in economic activity (+8.6%)

The index was led by wean 11% increase* in total supported job openings from 2021 onwards. Delaware It was a top-ranked state, Wyoming came second, California Ranked 3rd.

country in Eastern Europe Won 2nd and 3rd place in the world. LithuaniaThe number two position is a testament to the country’s investment in financial literacy, entrepreneurship and new technologies that keep businesses competitive globally. In 3rd place, Romania With the progress of the country’s digital transformation, there has been a significant increase in e-commerce.

Japan has emerged as the engine of entrepreneurship in Asia, taking 10th place in the index. Much of Japan’s growth has been driven by the government’s focus on improving cross-border trade and financing conditions for small and medium enterprises. To learn more about these findings, read on.

“Entrepreneurs are the engine that drives the economy forward. They create jobs. They support communities. said Mr. “Previously, there wasn’t enough public data to show the superpower and impact of entrepreneurship.That’s why we launched the Shopify Entrepreneurship Index. to reduce it and provide the insights needed to make entrepreneurship more accessible to everyone.”

“This new report will be a valuable resource for a wide range of stakeholders, including academics, policymakers and business leaders seeking data on the phenomenon of the rise of digitally-enabled entrepreneurs,” said Gary, Associate Professor of Strategy. Dr. Dushnitzki said: Started at London Business School. “There are many benefits to this effort. The pace of our quarterly releases is particularly important as it reflects the dynamic nature of entrepreneurship. It allows us to better track trends over time. , provides important insight into the state of the entrepreneur.”

Entrepreneurship on the rise in the US

The Shopify Entrepreneurship Index showed significant increases across multiple categories in the US. Total employment, GDP impact and business activity each increased by 11%, partly due to increases in private consumption, investment and exports.

of mountain west is the top region in the index, accounting for 5 of the top 10 states. Employment is booming across the South, with exports exploding in South Dakota (336%), Montana (135.5%), and Nevada (109%).

California, Texas, New Yorkand florida A giant of entrepreneurial success. California leads the United States in Direct Jobs Created** (134,024), Total Jobs Assisted (235,237), GDP Contribution ($26.6 billion), and Global Exports ($2.5 billion) New York and Florida follow in second and third place.

Local entrepreneurship is particularly strong. The index shows that nearly a third of his Shopify entrepreneurs are building their businesses outside of big cities, taking advantage of lower living costs and government incentives offered by some states. It is shown.

Entrepreneurship in Eastern Europe surpasses Western Europe

Despite the uncertain macroeconomic environment and the war in Ukraine, European entrepreneurship has proven resilient. Her three countries in Eastern Europe made it into the index’s top ten rankings. Lithuania (2nd), Romania (3rd), Czech Republic (5th). This shows that Shopify’s entrepreneurial spirit in Europe has traveled from West to East.

Lithuania’s fastest-growing e-commerce sector, the second largest in the world, will grow by 14% from 2020 to 2021, with the International Trade Department forecasting that it will grow at a rate of 5% annually over the next few years.

Japan emerges as a power player

Ranked 10th in the world, Japan’s influence is increasing in every indicator we measure. Business activity increased by 24%, supported employment increased by 24%, and GDP impact increased by 23%.

As APAC continues to grow as an entrepreneurship hub (representing 4 of the top 10 countries in the index), Japan is gaining traction thanks to its pro-business policies and government focus on cross-border opportunities. Should become a country of entrepreneurship (exports increased by 30%), the financing environment for SMEs has improved.

methodology

To calculate the Shopify Entrepreneurship Index, we partnered with Deloitte to measure GDP impact, business activity impact, jobs supported, and millions of entrepreneurs within our ecosystem over the past year. We calculated the exports generated by the house.

International Monetary Fund (IMF), Organization for Economic Co-operation and Development (OECD), International Labor Organization (ILO), and official statistical agencies to produce the rankings. Read more about our methodology.

We update the index quarterly with new data and analysis to provide a comprehensive and evolving benchmark of global entrepreneurship.

See full results and rankings for. Shopify Entrepreneurship Indexsign up to get updates, more data and insights you won’t find anywhere else.

All stats attributed to the Shopify Entrepreneurship Index and Deloitte.

*”Total Jobs Supported” refers to the number of jobs supported or maintained by merchants who use Shopify’s platform to sell goods and services. This includes merchant jobs, their supplier jobs, and jobs supported or maintained by expenditure of household income increased by entrepreneurial activity. In other words, the entire network of jobs supported by the economic activity generated by Shopify merchants is considered.

** “Direct jobs created” refers to the number of people employed in shops and self-employed shops. This represents the number of job openings directly attributable to the presence and activity of Shopify merchants.