Entrepreneurship
Report 2013
Encouraging Entrepreneurs –
Eliminating the Fear of Failure
2
Amway Global Entrepreneurship Report 2013
Introduction
Michael Meissner,
Vice President Corporate Affairs, Amway Europe
1
Amway Global Entrepreneurship Report 2013
2
Key Results of the
Amway Global Entrepreneurship Report 2013
Despite the recent economic uncertainties, people are positive about entrepreneur-
ship. Our respondents name independence as the most important motivation for
becoming self-employed. Yet, fear of failure remains a severe obstacle to starting a
business. Policy makers should address these fears and take the necessary steps
to remove them and foster an entrepreneurial culture.
3
Amway Global Entrepreneurship Report 2013
action plan for fostering entre- entrepreneurs may also func- individuals, society can create
preneurship. This action plan tion as role models for potential sustainable entrepreneurship.
builds on three areas: entrepre- and new entrepreneurs. Through Amway supports policy makers’
neurship education, role models, mentoring programs and attempts to encourage entrepre-
and a fertile environment for business networks, potential neurship and to tackle the fear
start-ups1. The results of the entrepreneurs and actual entre- of failure in a holistic manner.
survey suggest that implement- preneurs may obtain crucial first- Amway believes that policy mak-
ing such measures may reduce hand information on the start- ers should follow suit and come
the fear of failure and ease the up phase. Interestingly, again together with stakeholders to
start-up phase. respondents with a university develop action plans to remove
degree value this option more. the fear of failure and encourage
→ Respondents to the survey Policy makers should work with entrepreneurship.
confirm the encouraging effect stakeholders to create networks
of entrepreneurship education and national figureheads for the
on becoming self-employed promotion of entrepreneurship
(33%). Respondents with a and the creation of mentoring
university degree expect entre- networks.
preneurship education to be a
stronger facilitator for starting → When being asked about fos-
a business than those without tering conditions, respondents
a degree. In part, this might be name access to financing as the
caused by intensified teaching most important facilitator (42%).
of entrepreneurship skills at Also, a reduction in bureau-
universities8. Consequently, the cracy might reduce difficulties in
rate of respondents that can becoming self-employed (29%).
imagine starting a business Especially respondents with a
is substantially higher among fear of financial failure and the
university graduates. Going one legal consequences of business
step further, policy makers might failure when starting a busi-
consider already introducing ness view these conditions as
entrepreneurship education at beneficial. Policy makers should
school1. In fact, the outcome of bring stakeholders together
teaching entrepreneurial skills at to examine the modernization
school is being currently exam- of the legal consequences of
ined in a project in Denmark9. failure, to remove stigmatization
Such initiatives can help to grow and provide pathways back into
an entrepreneurial mind-set and business.
foster an entrepreneurial culture.
Policy makers should therefore Society can contribute to increas-
work with the education estab- ing the rate of entrepreneurship
lishment to facilitate entrepre- and innovation by valuing entre-
neurship education throughout preneurship and people who act
the curriculum at all ages and entrepreneurially. By confer-
levels of attainment. ring social status, esteem and
appreciation for entrepreneurs
→ Established and successful and entrepreneurial behavior of
4
Results in Detail
Amway Global Entrepreneurship Report 2013
Amway Global Entrepreneurship Report 2013
The change from a European 85%, and 2011: 88%). Denmark considerably high in the interna-
survey in 2012 to an interna- is followed by the two newly- tional survey. However, obvious
tional analysis of entrepreneurial participating countries Finland gender-based differences can be
culture in 2013 has unveiled a (87%) and Australia (84%). Even observed, which are consistent
slight increase concerning the though Great Britain, last year with other scientific results12.
positive attitude towards self- ranking second, increased its The overall average of positive
employment. This year’s report positive attitude (+2%), four new- attitude towards entrepreneur-
rendered a positive attitude to- comers pushed in above. ship among the 24 countries
wards entrepreneurship of 70% sees men in front with 72% and
on an international scale. How- The countries in the European women come up to 68%.
ever, when confronting the 16 Union cover the full spectrum
participating countries from last and yield the countries with the When it comes to age, it be-
year with their current results, least as well as most positive at- comes obvious where the
we see a decrease down to 67% titude towards entrepreneurship up-to-thirties are especially
(2012: 69%). This confirms that among all Amway Global Entre- positive about entrepreneurship:
especially newly-added coun- preneurship Report countries. Finland (92%), Denmark (90%),
tries are the ones that keep the The Scandinavian countries in Netherlands and France (86%)
positive attitude at a high level. the study show the most posi- are way ahead of USA (52%) and
The overall positive view on tive view on entrepreneurship Switzerland (57%). Also, young
entrepreneurship yields hope for (Denmark, 89% and Finland, participants in Turkey (66%) and
further growth in entrepreneurial 87%). At the end of the EU Hungary (68%) are more com-
ambition, as positive attitudes ranking remain Hungary (53%), fortable with the idea of self-
towards entrepreneurship Austria and Germany (both 57%). employment than Americans and
increase people’s intentions to Swiss interviewees.
become self-employed3 that, in Respondents from countries
turn, build a basis for future en- that are commonly associated The educational gap13 opens
trepreneurs10 – thus closing the with the economic and financial wide when it comes to entrepre-
constantly high “entrepreneurial crisis in Europe see entrepre- neurship, especially in the USA
gap”11 (31%). A detailed over- neurship less positive than last (27%), Italy, Portugal, and Spain
view of the entrepreneurial gap year (Spain, -7%; Portugal, -6%; (each 22%) as compared to Fin-
can be found on the following Italy, -5%; Greece, -3%). Beside land (2%), Greece (3%), and the
pages 8/9. the crisis-struck countries, Rus- Netherlands (4%). Among those
sia (-8%), Austria (-6%), France with a university degree, the
Since 2011, Denmark is leading and Switzerland (both -5%) also Danish rank highest (95%), the
the ranking with the most posi- had to deal with decreases in Australians second (93%) and
tive view on entrepreneurship. the positive attitude. the Colombians number three
This year, Denmark could offset (91%). Hungarians (66%) and
last year’s decrease in its posi- Overall, the positive attitude Turks (67%) are at the end of the
tive attitude (2013: 89%, 2012: towards entrepreneurship is line, just a short distance away
6
70%
of polled Amway Global Entrepreneurship
Report countries have a positive attitude
towards self-employment.
from Greeks (71%), Austrians lower percentages. Denmark Germany (55%). One explanation
and Germans (each 74%). Peo- (88%), Finland (87%) and the for the more positive attitude of
ple without a university degree Netherlands (82%) range in the graduates might be that univer-
show a ranking similar to their top positions of this list, while sities more and more include
counterparts holding a university the last ranks are taken by the entrepreneurship education in
degree, yet with respectively USA (48%), Hungary (51%) and their curricula8.
Denmark 89% 9% 2%
Finland 87% 12% 1%
Australia 84% 12% 4%
Colombia 82% 13% 5%
Netherlands 82% 17% 1%
Great Britain 77% 17% 6%
Mexico 77% 20% 3%
Ukraine 76% 17% 7%
Japan 76% 23% 1%
France 72% 25% 3%
Romania 70% 17% 13%
Poland 70% 21% 9%
Italy 69% 30% 1%
Greece 69% 31% 0%
Czech Republic 67% 29% 4%
Russia 65% 21% 14%
Switzerland 65% 31% 4%
Turkey 61% 26% 13%
Portugal 61% 39% 0%
Spain 60% 36% 4%
Germany 57% 37% 6%
Austria 57% 40% 3%
USA 56% 36% 8%
Hungary 53% 40% 7%
7
Amway Global Entrepreneurship Report 2013
In the previous edition of Am- (non- E.U.) participants of the decision-makers need to help
way’s Entrepreneurship Report, AGER 2013, the economic crisis potential entrepreneurs to put
the “fear of failure” has been seems to have left less trace, their ideas into action, as a
among the highest obstacles as only 21% of the respondents long-term decline in start-ups
to becoming self-employed. It’s feel threatened by it and also and entrepreneurial activity and
those obstacles and fears that financial burdens restrain only thus in small- and medium-sized
lead to a high gap between 38% of the respondents from business is a threat to every na-
people that can imagine starting starting a business. How- tion’s economy and society as a
a business and those actually ever, despite the existence and whole. To present an example:
putting their plans into action. threatening cognition of risks
Is the gap because they do not and obstacles to entrepreneur- The traditional mid-size busi-
believe in their abilities, their ship, still a considerable number ness culture in Germany is
networks and ideas, or because of people seem ready to give hit hard by this development.
they do not feel supported by consideration to starting their Projections of the German
their environment? This raises own business. Chamber of Industry and Trade
the question as to why some (DIHK) expect 1 million less
people are willing to take risks The average self-employment self-employed people in 2050
more than others and what fac- potential14 in all surveyed compared to the status quo.15
et of the fear of failure prevails? countries lies at 39%. Even if it The comparably well-functioning
This year’s report therefore is lower when evaluating the re- German labor market may serve
aimed to find out more about sults of the EU member states, as one explanation, but an at
the inner thoughts that go along still over one third can imagine least equally-important reason
with starting up a business and starting their own business is believed to be the fear of fail-
what can be done to encourage (36%). Breaking it down to the ure is very high in Germany. 79%
more entrepreneurship. single countries, the highest po- of all polled Germans reply yes
tential can be found in Colombia to the question “In your opinion,
Risks and Obstacles (63%) and Mexico (56%) while is the fear of failure an obstacle
Hindering Entrepreneurship Greece, despite its financial to starting a business?” When
Among the polled countries problems, remains Europe’s asked, which aspects contrib-
worldwide, for 41% of the palladium of entrepreneurial po- ute the most to this fear of
respondents “financial burdens tential, with a solid 53% (50% in failure with an enterprise, 59%
up to bankruptcy” and for 31 % 2012). The other end of the line of the polled Germans confirm
“the economic crisis” turn out is held by Germany, with only that “financial burdens up to
to be considerable obstacles 26% of the respondents con- bankruptcy” constitute the main
against starting one’s own busi- sidering the possibility to start obstacle.
ness. This turned out to be even their own business while Japan
truer for the member states ranks last with only 17%. Thus, it is no surprise that it is
of the European Union, where other countries that lead the
43% and 37% respectively see it To implement the aforemen- ranking of successful entrepre-
that way. Among the remaining tioned potential, political neurship: the number of people
8
41%
of polled respondents see financial burdens
up to a possible bankruptcy as one of the
major obstacles to becoming self-employed .
confirming that they are already Encouraging Entrepreneurs, various groups involved have to
self-employed is highest in Eliminating the Fear of Failure set up incentives, bring down
Greece (21%), Japan (18%), and So why is it that countries like bureaucratic hurdles and help
Colombia (17%). Germany along Colombia and Mexico have finance new business by help-
with Finland, Australia, Po- big entrepreneurial potential, ing people to start up an own
land, and the Ukraine is at 5%. but show low self-employment business. A comprehensive
Denmark, France (each 4%) and rates? One explanation could overview of possible measures
Russia (3%) rank last. be structural obstacles: Re- that governments, educational
spondents do not really fear bodies and other institutions
Great Entrepreneurial to fail with an enterprise, but in the various polled countries
Potential not Fully Implemented see “public funding and start-up might implement in order to
One crucial aspect of the world- loans”, “entrepreneurship edu- foster entrepreneurship can be
wide survey is the entrepre- cation” and “support through found on pages 16–18.
neurial gap16. For the average business networks” as essen-
of all polled countries, this gap tial preconditions to start their
between participants showing own business. However, in the
entrepreneurial potential and eyes of the respondents in Co-
those already self-employed is lombia and Mexico, government,
at 31% (resulting from an aver- media and society in general
age self-employment potential are nowhere near providing
of 39% versus an average rate those encouraging conditions
of 8% of people who are actually (How entrepreneurship-friendly
self-employed). is society in your country? Co-
lombia: 66% unfriendly, Mexico
Furthermore, it is comparatively 45% unfriendly).
high in three of the new coun-
tries: Mexico is number one with Also, many of the findings that
47%, followed by Colombia with were collected in 2012 seem to
46% and Australia with 44%. be applicable to the new 2013
survey as well. The obstacles to
On the other hand, the lowest founding a business identified
figures for the entrepreneurial in the European study of 2012
gap can be observed in Japan emphasized the significant role
(actually in this country the of cultural susceptibilities and
self-employment rate has been the 2013 global survey shows
found to be 18%, whereas only the same cultural, social and
17% answered yes when asked political disadvantages. The
whether they could imagine individuals perceive objective
starting their own business), obstacles against starting a
Germany (21%) and Spain (22%). business. Here’s where the
9
Amway Global Entrepreneurship Report 2013
10
48%
of all respondents under the age of
thirty from all polled countries can
imagine starting their own business.
However, it is not certain wheth- weighted by young, male, univer- Overall, almost one third of the
er universities on the whole sity graduates. People with lower respondents can imagine starting
boost entrepreneurial spirit and educational levels and women a business, but have not taken
actually contribute to radical seem to fall further and further any action (31%). This indicates
innovations. This also depends behind their graduate male that the decision-making process
on the personal suitability of counterparts when it comes to shaping potential entrepreneurs
potential candidates18. the idea of self-employment al- into real entrepreneurs is still a
though we can observe that self- difficult task in the views of all
Entrepreneurial Profile employment seems to become respondents, and calls for further
Summing up, the profile of a realistic working model for all institutional reforms to foster
potential entrepreneurs is still age groups. entrepreneurship.
11
Amway Global Entrepreneurship Report 2013
12
43%
of all polled respondents of the Amway Global
Entrepreneurship Report 2013 specify “inde-
pendence from an employer, being my own boss”
as being the most appealing reason for self-
employment.
do not change when asking the Britain (9%) ranking lowest. to almost one fourth of the
same question to participants So a point of view that “it’s all respondents. It may be this new
who do not have a university about the money” no longer kind of entrepreneurship that
degree: The highest affirmation depicts the motivations and leads the way into real innova-
of this group of interviewees to reasoning of would-be-entrepre- tion, self-fulfilling achievement
the question of self-employment neurs. In accordance with overall and thus into a more balanced
being an alternative to unem- social developments, “old” economy.
ployment comes again from values like family, leisure time
Greece (45%), the U.S. (43%) and the compatibility of profes-
and Portugal (32%), with Colom- sional life with personal life
bia (5%), Japan (7%), and Great make an important difference
13
Amway Global Entrepreneurship Report 2013
The core problem lies within own rank and the fear of “taking interestingly be observed for
reach of more than two thirds over the responsibility” and legal Switzerland (12%).
(70%) of the polled respon- consequences such as lawsuits Investigating the U.S. and
dents: it is the fear of failure (each 13%) impact the respon- the E.U., a number of differ-
that presents an obstacle to dents’ opinion making. ences can be identified. While
starting a business. Furthermore respondents in the U.S. (37%)
the scientific insights show The financial consequences of a do not seem to fear failure,
that in countries where cultural failed business can be mitigated respondents in the E.U. (73%)
uncertainty avoidance is high, by the institutional and legal are even more frightened than
the fear of failure also tends to conditions of the country in the international average (70%).
be high. Interviewees’ positive which the failure took place. Especially “financial burdens up
attitude towards entrepreneur- An important factor is the bank- to bankruptcy” (E.U.: 43%; U.S.:
ship, however, in these countries ruptcy law applicable, as well 23%) and the “threat of the eco-
is particularly low. as additional legislation.5 nomic crisis” (E.U.: 37%, U.S.:
15%) cause much higher con-
Especially respondents in Japan Other than expected, “reputa- cerns in the E.U. than in the U.S.
(94%), Italy and Czech Repub- tion loss in front of friends, In contrast, Northern Europe20
lic (each 91%) are extremely co-workers or business part- demonstrates a compromise
frightened of failure when trying ners”, “not to be given a second between the E.U. and the U.S.:
to start a new life-scheme by chance” (each 6%), and “disap- Their 60% affirmation concerning
starting with an enterprise. On pointing or losing family” (9%) the fear of failure is largely made
the contrary, the U.S. (37%), the are minor parts of the fear of up of “financial burdens up to
Netherlands (43%), and Mexico failure. This complies with the bankruptcy” (39%) and “threat of
(47%) show the lowest percent- fact that “a culture that gives the economic crisis” (27%).
ages of those participants who people permission to fail” is
are afraid of failing. not in great demand (12%). Currently crisis-struck-countries
However, standing out from the like Portugal (61%), Greece
To respondents from all the other countries, Turkish people (54%), Hungary (52%), Spain,
polled countries, the fear of name personal factors such as and Italy (each 50%) rate the
failure is composed of different “personal disappointment, loss “threat of the economic crisis”
factors. The most pronounced of self-esteem” (29%), “disap- even higher than “financial
factor is “financial burdens up pointing or losing family” (24%), burdens up to bankruptcy”. In
to bankruptcy” (41%). Followed “reputation loss in front of countries that are less directly
by one that is basically valid friends, co-workers, or business affected by the crisis, the per-
for most of the internationally partners” (18%) as their most centages range from under 20%
polled countries is the “threat serious concerns. For the fac- such as Russia, Colombia, the
of the economic crisis” (31%). tor “reputation loss in front of Netherlands, Turkey, the U.S.,
Subsequently, the “threat of friends, co-workers, or business and Mexico.
unemployment” (15%) has its partners”, similar results can As already shown, Japanese
14
70%
of all polled respondents agree that the fear of
failure is a grievous obstacle to starting a busi-
ness. However, the results show a wide scope
from Japan (94%) to the U.S. (37%).
respondents see the fear of burdens up to bankruptcy” (the degree holders, who are also
failure as an intense obstacle to average rate lies at 41%). worried by the “threat of the
starting an own business. But economic crisis” (31%), look at
unlike than the rest of the polled Finally, Colombia takes up a things from a slightly different
countries, Japanese respon- special position. The fear of angle (respondents without a
dents state an enormous fear failure is clearly present among degree: 16%). An almost similar
of “being forced to take over the 54% of the respondents. This is to the overall Colombian findings,
responsibility” (45%; the aver- due to almost only one factor – but weakened outcome can be
age rate lies at 13%) and with an namely “financial burdens up to found in the Netherlands (43%
enormous 70%, Japan repre- bankruptcy” (33%). All the other fear of failure, expressed in 30%
sents the highest score when it factors stay under 18%. In the financial burdens).
comes to the fear of “financial Latin country, only university
41 % 42% 45%
40% Netherlands
France
Greece
50%
40% 50%
Finland
Australia
USA
Denmark
38% 23% 25%
Portugal
Great Britain
Japan
15
Amway Global Entrepreneurship Report 2013
As discussed earlier (see pages graduates when it comes to the ment as a reason against
8/9), “public funding and start- wish for an “entrepreneurship self-employment. This can be
up loans” as well as “entrepre- education” (+8%). The same changed only very slowly and
neurship education and teaching pattern can be observed for the necessitates patience with the
of business skills” rank high, desire for “support through busi- candidates, as well as long-term
when interviewees were asked ness networks”, and the above- measures of financial and legal
to specify the most essential mentioned “low bureaucracy” support and assistance. For
encouraging factors concerning (each +7%). So, the decision for instance, the European Commis-
the foundation of businesses. self-employment can be en- sion’s “second chance” policy 22
“Low bureaucracy” and “mentor- hanced by a variety of factors. tries to channel the stigma
ing, support through business associated with business failure
networks” also play an impor- Countries that show a high fear by producing communication
tant role. But also “Backing of failure naturally are also the materials for both policy makers
from family and social networks” ones that long for “low-risk and the general public5.
ranks in the mid-positions of the business models”. For instance
respondents’ listing of reinforc- in Germany (34%), Italy (29%), When it comes to the vital
ing factors when they are think- Hungary, Turkey, and Ukraine aspect of entrepreneurship-
ing about self-employment. (each 26%) low risk is among friendliness of the affected
the top three factors that en- societies, respondents dis-
Young adults (36%) and univer- courage entrepreneurship. But perse into two groups with 46%
sity degree holders (39%) vote also in Austria (30%) more than on each side: The first group
above the total average (33%) the average participants (23%) states that their society is
when they are asked to rate the consider low-risk business op- entrepreneurship-friendly while
importance of entrepreneurship portunities to be an important the second group with the same
education. Even if the private factor. This correlates with the percentage regards its society
“backing from family and social scientific findings that culture as entrepreneurship-unfriendly.
networks” is quite important to exerts a very important influence Not surprisingly though, peo-
the graduated participants (24%), on the fear of failure and cul- ple in societies perceived as
their focus, when it comes to tures that exhibit a high degree entrepreneurship-friendly exhibit
private vs. professional support, of uncertainty avoidance, also less fear of failure. It is the
lies on professional “mentor- show higher percentages of the young respondents under 30
ing, support through business fear of failure.21 years and graduates that show
networks” (30%). a small but powerful tendency
The cultural attitude towards towards the “entrepreneurship-
University degree holders show uncertainty also bears a strong friendliness” of their country
notably higher rates than non- influence on the risk assess- (each 49%).
→ Page 18
16
73%
of the U.S. citizens polled attest their country to
be “very” or “rather” entrepreneurship-friendly.
41%
31% financial burdens
up to bankruptcy
15%
threat of the
economic crisis threat of
unemployment
14%
personal 13%
disappointment, being forced to take
loss of self-esteem over the responsibility
13% 6%
legal consequences, reputation loss in front
of friends, co-workers,
lawsuits
or business partners
9% 6%
disappointing or not to be given
a second chance
losing my family
4%
others
“It is essential for the EU to put in place an environment which helps entrepreneurs take
risks and start new businesses. Failed entrepreneurs remain entrepreneurs, and are a
precious resource. Due to experience gained by repeat entrepreneurs the failure rates of
second start up attempts are lower than for initial efforts. We should therefore support
entrepreneurs and give them a second chance.”
17
Amway Global Entrepreneurship Report 2013
Even if the entrepreneurial neurial culture is the support of unfriendly, 45% rather unfriendly),
potential of the U.S. is only in local governments and societies. Spain (2.10 pt.: 25% very un-
the midfield, the interviewees This becomes obvious in crisis- friendly, 39% rather unfriendly),
voted their country as the most struck-countries where respon- and Italy (2.14 pt.: 24% very
entrepreneurship-friendly (3.02 dents state their own societies unfriendly, 40% rather unfriendly)
pt.24: 30% very friendly, 43% as the most entrepreneurship- show a tendency of more than
rather friendly). This overwhelm- unfriendly ones: Hungary figures half the population considering
ingly positive tendency of the a rather downbeat situation its society entrepreneurship-un-
U.S. places Denmark second (1.81 pt.: 37% very unfriendly, friendly. If entrepreneurship shall
(3.01 pt.: 19% very friendly, 62% 37% rather unfriendly), with thrive, then society, educational
rather friendly), and positions Romania following suit (1.86 pt.: institutions, governments and
Australia at the third place (2.75 24% very unfriendly, 33% rather politics should start new ap-
pt.: 12% very friendly, 50% unfriendly). The situation in finan- proaches and have the stamina
rather friendly). cially-stricken southern European for achieving a positive culture.
countries is slightly better, but
A vital argument for the sound still far from good. For instance,
development of an entrepre- Portugal (1.90 pt.: 31% very
18
Notes
1
European Commission (2013). Entrepreneurship 2020 action plan: 13
Educational gap is defined as the total of respondents with
Reigniting the entrepreneurial spirit in Europe. Brussels, Belgium: university degree answering „I can imagine to start up my own
Retrieved from http://ec.europa.eu/enterprise/policies/sme/entre- business“, minus total of respondents without university degree
preneurship-2020/index_en.htm. answering “I can imagine to start up my own business”.
2
Rand, A. (1943). The Fountainhead. USA: Bobbs Merrill. 14
Self-employment potential = Total of respondents answering
„I can imagine starting my own business“, regardless if their
3
Douglas, E. J., & Shepherd, D. A. (2002). Self-employment as a general attitude towards self-employment is positive or negative.
career choice: Attitudes, entrepreneurial intentions, and utility
maximization. Entrepreneurship Theory and Practice, 26(3), 81-90. Kapalschinski, C., Sigmund, T., & Stratmann, K. (Aug 6, 2013).
15
worldbank.org/indicator/NY.GDP.PCAP.CD. 16
Entrepreneurial gap is defined by the number of respondents
answering “I can imagine to start up my own business” minus
5
Ucbasaran, D., Shepherd, D. A., Lockett, A., & Lyon, S. J. (2013). the number of respondents answering “I am self-employed”.
Life after business failure: The process and consequences of
business failure for entrepreneurs. Journal of Management, 39(1), Gender gap is defined as the total of male respondents answering
17
8
Kuratko, D. F. (2005). The emergence of entrepreneurship 20
Northern Europe corresponds to the average of Denmark
education: development, trends, and challenges. Entrepreneurship and Finland.
Theory and Practice, 29(5), 577-598.
21
Mueller, S. L., & Thomas, A. S. (2001). Culture and entrepreneur-
9
Moberg, K., Vintergaard, C., & Vestergaard, L. (2012). Evaluating ial potential: A nine country study of locus of control and innova-
content dimensions in entrepreneurship education. In eurostat tiveness. Journal of Business Venturing, 16(1), 51-75.
(Ed.), Entrepreneurship Determinants: Culture and Capabilities
(pp. 89-98). Luxembourg: European Union. 22
European Commission (2013). A second chance to entrepreneurs.
Retrieved from http://ec.europa.eu/sme2chance.
10
Kruger, N. F., & Brazeal, D. V. (1994). Entrepreneurial potential and
potential entrepreneurs. Entrepreneurship Theory and Practice, 23
European Commission (2012). Focus on boosting entrepreneur-
18(3), 91-104. ship at informal Competitiveness Council. Retrieved from
http://europa.eu/rapid/press-release_MEMO-12-582_en.htm.
Entrepreneurial gap is defined by the number of respondents
11
12
Shinnar, R. S., Giacomin, O., & Janssen, F. (2012). Entrepreneurial
perceptions and intentions: The role of gender and culture. Entre-
preneurship Theory and Practice, 36(3), 465-493.
Publisher:
Amway GmbH
Corporate Affairs Europe
Benzstr. 11 b-c
82178 Puchheim
Germany
email: AGER@amway.com
Phone: +49. 89. 800 94 158