Business, Estonia, Markets and Companies
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Saturday, 20.04.2024, 08:00
Entrepreneurial activity drops in Estonia t0 15% in 3 years
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According to the report, a decline in potential entrepreneurial activity from 20.1% to 10.6% can be considered a statistically important change, in addition to a decrease from 9.5% to 6.3% in the early stage of entrepreneurial activity.
In the innovation-driven economies group Estonia was in the middle in 2014 with its total entrepreneurial activity of 15%.
According to the report, the number of fresh entrepreneurs has declined. One of the reasons behind it might be the improved situation of the labor market.
While in previous years, Estonia has stood out with a very strong entrepreneurship potential of 22.9%, in 2014 only one tenth of respondents were planning to establish a company alone or with a partner. Fear of failure is a strong factor in keeping Estonians from starting up companies.
Around 2,300 people and 40 experts in Estonia were surveyed for the report.
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