Social challenges

Missing entrepreneurs 2021

29/11/2021 PNG

Why does entrepreneurial resilience matter? While different countries have different levels of self-employment for different reasons, entrepreneurs in are in all cases a vital foundation of economies. Policies and ecosystems that provide appropriate support for the self-employed are better able to nurture entrepreneurial talent, which in turn helps with economic resilience.

The OECD’s conditions for entrepreneurship indicators show the scores of different European Union countries relative to the EU median across four key parameters – namely SME lending, self-reported entrepreneurial skills, entrepreneurship expectation and administrative burden.

Looking at entrepreneurship expectation, the countries with the highest portion of the population saying that they expect to create a business in the next three years are Latvia (23.3%), Estonia (21.4%) and Portugal (19.6%), while Poland (9.4%), Italy (9.1%) and Spain (6.8%) had the lowest portions (compared to the EU median of 15.4%).

Meanwhile, on the measure of administrative burden (where 100 = best performance), the highest scores came from Greece (96.0), Estonia (95.4) and Ireland (94.4), while the lowest scores came from Germany (83.7), Austria (83.2) and Poland (82.9, compared to the EU mean of 90.9).

See also: The Missing Entrepreneurs 2021 : Policies for Inclusive Entrepreneurship and Self-Employment