A recent survey of 84 countries conducted by the World Bank found a significant relationship between economic development and entrepreneurial activity around the world.

While the retail sector made up around 47 percent of entrepreneurship in developing countries and only 25 percent in industrialized countries, the services sector made up 17 percent in developing countries and around 41 percent in industrialized countries.

The study suggests lower requirements of investment, human resources, knowledge, and capital among the reasons that entrepreneurs may focus on the retail sector in developing countries.