Fintech nerds keep complaining about bad conditions for starting a company in Switzerland. Well, if you compare these conditions with those in other countries, they're not bad at all, according to a much-read survey of entrepreneurship.
Entrepreneurship is an important force for an economic system and has long been the pride of Switzerland. And that's not nationalistic prejudice.
Switzerland claimed second place behind the U.S. in the latest survey published by the Global Entrepreneurship and Development Institute. Canada, Sweden, Denmark and Iceland followed in third to sixth place.
Innovation and Technology
Switzerland's result is the highlight among the survey findings. It made the biggest jump among the best-rated countries, moving up six positions. The reasons for which are the quality of startups, product innovation, use of modern technology and a large number of powerful growth firms.
The institute doesn't give much detail or industries where the country performed strongly. But the startup culture in Switzerland seems at least intact, despite what people in the fledgling fintech industry claim.
