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Seoul Ranks 23 amongst Best Entrepreneurial Cities in the World
London Is World's Most Ambitious City for Business
Seoul, Korea

A brand new study by Dojo has revealed which cities in the world are the most ambitious when it comes to starting their own business!

Many of us aspire for success, but does where we live have anything to do with our business ambitions?

Card machine provider Dojo has created a worldwide index of the most business ambitious cities, using five fundamental factors which contribute to entrepreneurial ambition:

- Number of new businesses registered
- Cost of a business start-up as a % of GNI per capita
- Gross Domestic Product (GDP) per capita
- Percent of the population with access to education
- Google search volumes for starting a new business queries

Seoul is within the top 25 most business ambitious cities in the world

South Korea's capital, Seoul, is named the 23rd most ambitious city in the world, with a population of over 9.9 million and an ambition index score of 262 out of 500.

Over 96,155 new businesses registered in the city over a year proving Seoul is an ideal choice for savvy entrepreneurs.

The city also had 660 Google searches for "how to start a new business.”

Caption: Ranking: The 25 most ambitious entrepreneurial cities in the world:

The 25 most ambitious entrepreneurial cities in the world

London is the most ambitious city in the world for those looking to open a business

London took the crown as the most ambitious city in the world for those looking to start a business. With over 664,974 new businesses registered in the city and over 4,400 Google searches for "how to start a new business” — it's no surprise that the UK capital came out top, scoring 481 out of 500 in the index.

With a population of over 9.4 million, the UK capital is a melting pot of cultures, creativity and access to infrastructure — a winning formula for ambitious entrepreneurs.

Sydney is the second most business ambitious city in the world!

Sydney came second with an index score of 402 out of 500. New businesses have been thriving in Sydney, with 235,654 new businesses registered there — proving that ambitions show no sign of slowing in ‘The Emerald City.’

Over the past 12 months, there was also a 52% increase in searches for “how to start a new business” amongst Sydney’s occupants and a 100% increase in those searching for “how to fund a new business.”

Cape Town is the third top city for ambitious entrepreneurs

South Africa’s port city of Cape Town came third, scoring 384 out of 500. With a population of 4.7 million, the city is home to many of Africa’s most innovative designers and artists — creativity flourishes amongst the natural beauty of the city.

That, paired with incredibly low costs for those looking to open up a new business could be why 376,727 new businesses opened up in the city in 2018.

Annual competitions in the city such as the FNB Enablis Business Plan initiative also provides over R10 million (£501.3K) to start-ups every year. A lot of support is given to SMEs in the city as they employ around 70%-80% of the working population in Cape Town.

For the full index of business ambitious cities, please visit here.

About Dojo

Dojo is a UK-based card payment provider under the Paymentsense brand. They specialise in helping independent small and medium businesses take secure, reliable and fast card payments with cutting-edge contactless card machines with next-working day transfers.

Methodology

To discover which cities are the most ambitious to create their own business we looked at Google Search volumes for related searched terms over the past 12 months, new businesses registered, cost to start up a new business, and % of the population with access to education.




 

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