While more than 68,000 businesses have closed since Greece’s crushing economic crisis and austerity measures began in 2010, one of two Greeks still wants to run their own business, according to the latest Flash Eurobarometer 354 Entrepreneurship in the EU and Beyond report from the European Commission.
The survey looks into public attitudes on various issues leading to entrepreneurship, such as entrepreneurial education, risk-taking, start-ups, obstacles to entrepreneurship and business failures. According to its findings, 96% of the Greeks who took part in the survey pinpointed as the main barrier for starting their own business the current lack of funds deterring them from any entrepreneurshiping activity. Another 77% claimed that lack of information also contributed to a new businesses stagnate.
Greeks, Lithuanians, Portuguese, Romanians, Latvians and Bulgarians are the only exceptions among the 27 Member States, whose people rather tend to look for employment as employees in a company or in the public services.
In 2012 in comparison to 2009, the percentage of citizens around Europe wishing to run their own business dropped from 45% to 37%. In fact, self-employment became less popular especially in northern countries, such as Sweden, Finland and Denmark, where the majority of people (more than 70%) prefer to work as employees rather than risk financial and entrepreneur openings.
The public analysis also showed that in general it is the male citizens and younger people around the EU who prefer working as their own bosses instead of being employees to others, which is something women and elderly people prefer. The Commission adopted a new action plan aiming to support entrepreneurs and radically change the current business behavior patterns in Europe.
The Commission plan aims to create new businessmen generations deriving from population groups, such as young people, women, elder people, immigrants and unemployed. It is also suggested to develop a European market of micro-financing that will provide simpler taxation structures, so that small and medium-sized enterprises will be able to receive funds through private investments, like mini-bonds or online investments.
Given that 50% of all new enterprises fail and shut down within the first five years of operation, the Commission asked EU countries to spend more money on helping new businessmen survive through this crucial period of time by emphasizing on management, research, development and further education.
The European Commission strategy also proposes to activate all new entrepreneurship chances provided through the Internet and simplify the laws concerning the transferring of titles. Furthermore, honorable and descent businessmen should be given a second chance after a case of bankruptcy or failure, while the regulatory burden of merger control on business should be further reduced.
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