Britain is being overtaken in the world market as the source of new business ideas, a survey of venture capitalists claims.
The poll of UK-based private equity and venture capital firms shows countries including Finland, the Netherlands and Australia are now considered more innovative than Britain.
Japan tops the league of pioneering nations, while Thailand and France, both with similar size populations to the UK, were also judged to be more creative thinking.
"We know that most recently the US and China are regarded as the most important sources of innovation and entrepreneurship," said Bob Govan, from Portman Travel.
"But our research is based on a per capita measure of entrepreneurialism and innovative business thinking, which shows that many smaller countries have great ideas to offer, but are often overlooked."
Nowadays, more UK entrepreneurs are travelling abroad and discovering ideas which they use back home to create successful companies, the report says.
Dominic McVey, pioneer of the micro scooter, and Steven King, founder of restaurant chain Oi Bagel, are two examples of Brits who chanced on an idea overseas and adapted it for the UK market.
Graham Flack, managing director of Portman Travel, said: "It seems that British entrepreneurialism needs revitalising. As more and more Brits travel overseas on business or leisure they are increasingly spotting ideas that seem to ignite their imagination.
"The emergence of a new breed of merchant venturers could be the way forward for the UK's return to the top of the innovation league table."
