Most people all over the world – especially young people – are full of innovative ideas and are determined to start their own business. There are many successful startups around us, but also many individuals who have failed to realize their entrepreneurial dreams. Which countries are leading the way in entrepreneurship and which countries are the most fearful when it comes to starting a business?
Morocco appears to be the country where the percentage of people admitting that fear of failure would prevent them from starting a business is the highest (64%), according to data published in November 2019 by The Global Entrepreneur Monitor. This figure is almost four times higher than that of the least fearful country, Angola, with only 17%. Angola also ranks first for entrepreneurial intentions, with 80% of its residents intending to start a business in the next three years.
The second most fearful entrepreneurial country is Thailand, where 59% of residents would not start a new business due to fear of failure. However, 20% of the Thai population consider themselves an entrepreneur and 32% of Thais said they intend to start a business in the next three years.
The third most fearful country is Greece, with 58% of the population afraid to start a new business for fear of failure. Only 6% of the Greek population considers themselves an entrepreneur and 7% of Greeks say they intend to start a business in the next three years.
Next comes Italy, with 52% of the population fearing failure. The countries that appear in the top 10 are India (50%), Cyprus (48%), Israel (47%), Luxembourg (47%), Russia (46%) and Japan (46%).
The United States provides the most financial support to new businesses and entrepreneurs, with an index of 15 out of 15. This means that the United States is the best country for providing financial resources‚ such as equity , credits, grants and subsidies, to small and medium-sized enterprises (SMEs).
When it comes to entrepreneurial education, Qatar comes out on top with a score of 10 out of 10. The score is based on the extent to which training for setting up or managing SMEs is integrated into the education and training system. training at primary and secondary levels. . Qatar’s education system is therefore the best in preparing young people to start a business or become an entrepreneur.
Top 10 countries that fear failure when it comes to starting a business:
- Morocco
Percentage of the population who fear failure: 64% - Thailand
Percentage of the population who fear failure: 59% - Greece
Percentage of the population who fear failure: 58% - Italy
Percentage of the population who fear failure: 52% - India
Percentage of the population who fear failure: 50% - Cyprus
Percentage of the population who fear failure: 48% - Israel
Percentage of the population who fear failure: 47% - Luxembourg
Percentage of the population who fear failure: 47% - Russia
Percentage of the population who fear failure: 46% - Japan
Percentage of the population who fear failure: 46%
Top 10 countries leading the way in entrepreneurship:
- Angola
Percentage intending to start a business in 3 years: 80% - Sudan
Percentage intending to start a business in 3 years: 67% - Egypt
Percentage intending to start a business in 3 years: 60% - Guatemala
Percentage intending to start a business in 3 years: 50% - Chile
Percentage intending to start a business in 3 years: 49% - Colombia
Percentage intending to start a business in 3 years: 49% - Peru
Percentage intending to start a business in 3 years: 40% - Morocco
Percentage intending to start a business in 3 years: 40% - United Arab Emirates
Percentage intending to start a business in 3 years: 38% - Iran
Percentage intending to start a business in 3 years: 35%
Top 10 countries that financially support new businesses and entrepreneurs:
- UNITED STATES
Score for availability of financial resources for SMEs: 3.57 - Indonesia
SME financial resources availability score: 3.56 - The Netherlands
Score for availability of financial resources for SMEs: 3.54 - India
Availability of financial resources for SMEs score: 3.39 - Taiwan
Availability of financial resources for SMEs score: 3.27 - Thailand
Availability of financial resources for SMEs score: 3.21 - Poland
Availability of financial resources for SMEs score: 3.2 - Bulgaria
Availability of financial resources for SMEs score: 3.19 - Ireland
Availability of financial resources for SMEs score: 3.16 - Israel
Availability of financial resources for SMEs score: 3.15
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