Fostering young entrepreneurs in Europe / Eurofound News, May 2015

Almost half of all young people in Europe would like to become entrepreneurs, yet only a very small proportion actually do so, according to Eurofound’s publication of the month, Youth entrepreneurship in Europe: Values, attitudes, policies.

Launched at a lunch debate on 29 April with EU-level social partners in Brussels after the kick-off of European Youth Week, the report finds that while 48% of young Europeans would like to become entrepreneurs and 41% believe it is possible, less than 7% of those aged 15–29 were self-employed in 2013. This figure varied greatly across the Member States: the proportion of youth self-employment in Greece and Italy was 15% or more, but only 3% or less in Germany and Denmark. Although there is considerable policy interest across Europe in promoting youth entrepreneurship to help create employment, self-employment is not a viable career path for all young people: setting up as an entrepreneur requires the right skills, ideas and personality traits. The report analyses factors that could unlock this entrepreneurial potential, and those influencing a young person’s decision to become self-employed. Download the report.