Taiwan is No. 1 in Asia and No. 8 in the world for small business and startup activity, according to the 2015 Global Entrepreneurship Index. This is the fourth consecutive year for the country to achieve the top ranking, putting it ahead regionally of Singapore, 10th; South Korea, 28th; Japan, 33rd; Hong Kong, 40th; and China, 61st. Overall, the U.S. leads the index, followed by Canada, Australia and the United Kingdom.