Singapore has emerged as one of the world's top entrepreneurial hubs, boasting over 62,000 founders and 98 new companies in the past year. With a robust ecosystem of 22,850 businesses and 3,720 investors, the city-state secures the fourth spot in global entrepreneur rankings.

A study conducted by print-on-demand company, Printful said that Singapore is an emerging tech capital with highest Gross Domestic Product (GDP) per capita estimated to be at $127,544 of all global cities. This makes it a strong and stable economy for starting and nurturing a new venture. 

Singapore joins London at the top position in the list, followed by New York at second place and San Francisco at third place in the list. London is the most entrepreneur-friendly city in the world, with the highest number of founders and ventures, cementing its status as a global business hub.

However, the US has more entrepreneur-friendly cities than any other country in the world. The list also consists of seven American cities that have strong infrastructure and business-friendly policies to attract entrepreneurs from across the world.       

London has over 299,000 founders, equivalent to 310 founders per 10,000 people or 3.37% of the city’s total population and is home to 75,516 businesses. It has witnessed the most growth in businesses, with 331 new companies started in 2023. 

Then comes New York, having the highest amount of investment potential with 14,590 investors, about 199 founders per 10,000 people or 0.72% of the city’s population.

With 175,000 founders and 62,071 businesses, New York offers a prime opportunity for entrepreneurs to tap a vast investment pool. With 3,210 monthly searches, only 10 below London, New Yorkers are just as eager as Londoners to start their ventures.

San Francisco is third in the list with 321 new businesses launched last year, making up nearly 10% of its total 32,670 businesses. It has the second-highest number of new businesses started last year, just behind London.

Los Angeles is at the fifth position, where competition for funding is even harder, with 26,369 businesses and 3,639 investors. That’s only around 14 investors for every 100 businesses. 

While being the third US city in the list, its strong economy shines through with a GDP per capita of $73,637, creating a thriving place for entrepreneurs.

Entrepreneurship in the US is on the rise with new business applications increasing by 50% since the COVID-19 pandemic, according to the study, based on key factors, such as the number of founders and investors in each city, the total number of businesses, and new ventures created last year. 

The study looked at GDP per capita, the cost of living, average salary, and Google searches on how to start a business in each city, to arrive at a conclusion. 

Printful has analysed 40 cities across the world, examining factors like the number of founders and investors in each city, the total number of businesses, and new ventures established last year. 

The analysis also considered average salaries and the cost of living.