Since 2001 the European Commission has been studying the development of entrepreneurship in the EU Member States. Its latest report for 2009 shows that 45% of all Europeans would like to be their own boss, if they could. This compares to 55% of all Americans who claim the same thing.
The EU longtiduinal study is called the Flash Eurobarometer on Entrepreneurship 2009 and reveals interesting comparisons between the EU and other parts of the world. Some of the main findings are:
Entrepreneurial attitudes are different in Europe, the US and Asia: Chinese people have the strongest preference for self-employment (71%), Japanese people the weakest (39%). In the US entrepreneurs enjoy a good reputation. 73% of US citizens questioned in this survey said that they have a favourable image of entrepreneurs. In Europe about half of the population (49%) has a favourable image of entrepreneurs.
The preference for self-employment remained stable: As in 2007 45% of all Europeans would like to be self-employed. 49% say that they would prefer working as an employee. In the USA the preference for self-employment has decreased from 61% to 55%. A rather high share of Chinese citizens (71%) declared that they would rather be self-employed than working as an employee (28%).
Large differences between Member States concerning self-employment: Cyprus and Greece show results clearly above the EU average and even above the US. In Slovakia, Belgium and Denmark, only one third of the population or less declares any interest for being an entrepreneur.
Men and young people express a stronger preference for self–employment than women or older people. Growing up in an entrepreneur family and living in an urban area promote the desire for self-employment.
Attitudes towards entrepreneurs are ambivalent: job creators, who develop new products and services, or exploiters, who only think about their own wallet? In comparison with other professions entrepreneurs are considered in a rather positive way within the EU.
The lack of finance has traditionally been the most important reason that holds European starters back (24%). Yet a sudden inheritance would not make starting a business attractive for many Europeans. However, it has to be considered that there are wide differences between countries.
The personalities of people with business experience are more willing to take risks, enjoy competition more. Business people are also more confident to master difficult tasks and count less on their luck to solve problems.
For more information about the findings from the Flash Eurobarometer on Entrepreneurship 2009 visit here.