Sierra Leone is one of the 10 bottom countries in terms of entrepreneurship development.
The Global Entrepreneurship Index (GEI) for 2016 has placed the country at 128th out of 132 countries, five places down from last year’s ranking at 123th among 130 countries. Sierra Leone is also at the bottom of ranking among the countries of Africa according to the GEI report.
The country stands alongside Uganda (123), Benin (124), Burkina Faso (126), Madagascar (127), Mauritania (129), Malawi (130), Burundi (131) and Chad (132), according to the ranking prepared by the Washington-based Global Entrepreneurship and Development Institute.
Sierra Leone?s score is 14.6 compared to the best score of 86.2 by the top-ranking country, the United States, which is followed by Canada, Australia, Denmark and Sweden.
Sierra Leone overall GEI score is 14.6 in a scale of 100, the country scores 14.2 in entrepreneurial attitude, 21 in entrepreneurial abilities and only 10 in entrepreneurial aspirations.
In the World Bank’s latest global ranking on doing business, “Doing Business 2016: Measuring Regulatory Quality and Efficiency”, Sierra Leone ranks 180 among 189 economies.
For weak economy, such as Sierra Leone, strengthening the institutional foundations for entrepreneurial activity and gradually developing human capital and physical infrastructure is required.