China stands out for access to funding and coordinated support

by swisscham in Consulting, Legal, Services, Tax

EY’s G20 Entrepreneurship Barometer 2013 calls on governments, ahead of the G20 Leaders Summit next week, to collaborate with entrepreneurs in order to kick-start their economies and create jobs. According to the report, China shows its outstanding performance in access to funding and coordinated support. Terence Ho, EY’s Greater China Strategic Growth Markets Leader, says: “China’s strongest performance has been in access to funding, which has been improving rapidly, allowing more entrepreneurs to start new businesses or expand existing ones. And the bureaucracy involved in starting a new business has also fallen in recent years, meaning businesses waste less time on non-productive activities. Strong improvements across China’s entrepreneurial ecosystem are helping to boost entrepreneurship further”. China’s performance in terms of access to credit for entrepreneurs has been very good. It ranks third overall on this pillar of the EY G20 Entrepreneurship Barometer 2013. The availability of bank credit to the private sector is unusually high for a rapid-growth economy, at 120% of GDP.

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