Venezuela occupied the first position in entrepreneurship according to Global Entrepreneurship Monitor (GEM), the Support Competitiveness Program, Andean Development Corporation (CAF), reported.
 
The investigation found that Venezuela has 25 percent of early entrepreneurship. This means that one out of four Venezuelans are starting a business or taking an enterprising initiative. Thailand ranked second, accounting for 21 percent, followed by New Zealand, 18 percent.

Interestingly, the survey found that the primary incentive in Venezuela to start a business is the need, as compared to motivation in New Zealand.

Venezuelans prefer businesses related to the sale of food, followed by restaurants, marketing of textiles and household items, telecommunications and Internet.

In 2005, a total of 36 countries and over 200 researchers from renowned universities took part in the case study.