Remitly, an international company providing digital financial services and listed on Nasdaq, conducted a global study using Angela Duckworth’s Grit Scale methodology to understand which countries have the strongest entrepreneurial mindset.
In today’s interconnected world, where innovation is key and opportunities to start your own business are plentiful, understanding how different cultures approach entrepreneurship is more important than ever. Especially for those who wish to relocate to a new country, where collaborating with major and emerging companies is essential, gaining an in-depth understanding of what fuels ambition around the world is crucial.
The study asked over 7,000 respondents from 26 countries a series of questions drawn from the Grit Scale, developed by Angela Duckworth, to ascertain their level of passion and perseverance. A higher Grit Score suggests that a person has a greater tendency to pursue their goals, even when things get tough, while a lower score could indicate a greater propensity to give up easily when things get difficult.
Cumulative scores provide a comprehensive picture of a nation’s overall ‘grit’ profile: the higher the score, the more passionate and persevering the nation is, and the stronger its entrepreneurial mindset.
In first place is South Africa, which achieved an impressive score of 46.18 out of a maximum of 60. With rapidly growing centres such as Cape Town and Johannesburg, where technology and start-up ecosystems are flourishing, it is a nation that continues to be enterprising, determined and eager to innovate.
In second place is the United Kingdom (42.54), a nation known for its strong tradition of innovation, from the industrial revolution to modern discoveries in the field of financial technology. British entrepreneurs demonstrate a quiet tenacity and focus that are the foundation of long-term success.
In third place is Ireland with a score of 42.17, a country whose entrepreneurial ecosystem has evolved rapidly in recent years. From rural innovators to Dublin-based start-ups, Ireland’s high score reflects a cultural pride in pushing forward and finding creative solutions.
With a surge in digital infrastructure and a culture that encourages education and ambition, India (42.06) ranks fourth, followed by Spain (41.13), with a new generation of entrepreneurs finding success in sectors such as green energy, tourism and technology.
The United States ranks sixth (40.96) and, although not at the top of the ranking, has long been considered the leader in entrepreneurship, thanks to the scale and diversity that characterise its states. From the tech giants of Silicon Valley to international financial leaders, the United States is home to countless success stories of individuals pursuing their dreams.
Rounding out the top ten are New Zealand in seventh place, Brazil in eighth, Greece in ninth, and Italy in tenth with a score of 40.45. “The Italian entrepreneurial spirit is deeply rooted in tradition, particularly in family-run businesses that are passed down from generation to generation. Whether in fashion, gastronomy or design, Italian entrepreneurs are known for their passion, craftsmanship and great pride in the quality of their work. Their deep respect for cultural heritage, combined with a growing drive towards modernisation, creates a solid foundation for an ambitious spirit,” is how the study describes the Italian approach to entrepreneurship.
Ryan Riley, Vice President of Marketing for EMEA and APAC at Remitly, comments in a statement: “Entrepreneurship often starts with the right mindset, as it takes grit, determination and the belief that you can create something better, even when the odds are stacked against you. When challenges arise, it is precisely this unshakeable mindset that helps you overcome them. Our research highlights the strength of entrepreneurial mindsets across different cultures, from the resourcefulness of South African entrepreneurs to the quiet determination found in the UK and Ireland. It is fascinating to see how mindsets vary even within a single country, as demonstrated by the contrasting scores between states in the United States. While having the right mindset cannot guarantee success, it can lay the foundation. Whether you are starting a side business or expanding an enterprise, that inner drive can make the difference between an idea and a legacy.
The full study can be consulted at this link.
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