UK lags behind US and Germany for digital entrepreneurship
Telefonica's new digital index has analysed 34 countries worldwide and has scored the UK 82.6 out of 100 for its digital business support
The UK has still got some work to do to drive digital entrepreneurship, according to the Telefonica Index on Digital Life, which has ranked the UK behind the US and Germany out of 34 countries worldwide that support digital development.
Scoring an average of 82.6/100 for digital entrepreneurship, the UK ranked above Italy (64.1/100) and Chile (78.2), but ranked significantly below the US (94/100) and Germany (83.2/100).
When it came to the scoring criteria for entrepreneurship, Telefonica ranked the UK highest for its innovation and digital literacy yet ranked it lowest for finance and number of digital businesses.
More broadly, the UK was recognised as having one of the highest digital adoption rates and also ranked highly for the amount of digital public services on offer.
José María Álvarez-Pallete Lopez, Telefónica executive chairman, commented:
“Current regulation has to change in order for countries to maximise the digital opportunity. To unleash the full potential of the digital economy, we need forward-looking, fairer public policies and a better cooperation between all stakeholders, public and private. Without this, we risk a digital divide, which could not only threaten economic progress, but also the lives of citizens globally.
“The Index on Digital Life reflects Telefónica’s belief that technology should be open to everyone. Recent reports estimate that a 10% increase in digitalisation of the economy could increase GDP per capita growth rates by 40%. We need institutions, governments, unions, enterprises, policy makers and citizens to realise the full potential of the digital world for the benefit of the society.”