Singapore ranks second, just behind the United States, in having the highest level of total entrepreneurial activity among 25 selected economies globally, according to the Global Entrepreneurship Monitor 2012 Singapore Report.

The report, a study carried out by Singapore’s Nanyang Technological University (NTU) and made public on April 30, showed that more people are setting up businesses in Singapore than in many other parts of the developed world.

The report is part of the annual Global Entrepreneurship Monitor (GEM), a worldwide study by a consortium of universities in 69 countries. Conducted since 1999, GEM is a leading international indicator of entrepreneurial activity, providing valuable insights into the state of entrepreneurship within and across developed and developing economies.

In terms of financial support and government policies, Singapore also had the highest scores compared to the other 24 economies.

Another report, the Ease Doing Business 2013 ranked Singapore the best country to do business in the world. This is the seventh year Singapore has taken the top spot on the Doing Business report compiled by the World Bank and the International Finance Corporation (IFC).-VNA