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Fear of failure keeps Finns from entrepreneurship

Staff writer |
According to the annual Global Entrepreneurship Monitor survey, approximately 44 percent of adult Finns said that could see good business opportunities in their environments.




At the same time, roughly 37 percent said that the fear of failure prevented them from capitalising on those ideas.

In comparison with other European countries, even that 37 percent is not a lot. About 39 percent of Germans also have the same doubts. As many as half of Italians and Greeks said they were entrepreneurship-shy precisely because they were afraid to fail.

In terms of the fear of failure, the EU average was around 40 percent. The grouping's most intrepid nationals could be found in Croatia, Slovenia and the Czech Republic.

GEM's survey questions on business ideas and fears sought to shed light on feelings and attitudes toward entrepreneurship. It also revealed that some of the respondents did harbour intentions of getting into business. About five percent of Finns interviewed said they were in the process of setting up their own businesses.

The urge towards self-employment is especially evident in young adults, but age also appears to bring a gender bias. The research team noted that Finnish men tended to become less excited about entrepreneurship as they aged, while women's urge for striking out on their own remained unchanged.


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