Top 10 Nations That Fear Failure When Starting A Business
Most people all over the world – especially young- are full of innovative ideas, determined to start their own companies. There are a lot of successful startups around us but also there are a lot of individuals who have failed to make their entrepreneurial dreams come true. Which countries are leading the way when it comes to entrepreneurship and which countries are the most fearful when it comes to starting a business?
Morocco comes out as the country with the highest percentage of people admitting fear of failure would prevent them from starting a business (64%), according to data published in November 2019 from The Global Entrepreneur Monitor. This figure is almost four times higher than the least fearful country, Angola, at just 17%. Angola also ranks first for entrepreneurial intentions, with 80% of its residents intending to start a business within the next three years.
The second most fearful entrepreneurial nation is Thailand where 59% of the residents would not start a new business due to fear of failure. However, 20% of Thailand’s population consider themselves to be an entrepreneur and 32% of people from Thailand said they intend to start a business in the next three years.
The third most fearful country is Greece with 58% of the population afraid to start a new business due to fear of failure. Only 6% of Greece’s population consider themselves to be an entrepreneur and 7% of people from Greece said they intend to start a business in the next three years.
Next one is Italy with 52% of the population fear of failure. The countries that make the top 10 list are India (50%), Cyprus (48%), Israel (47%), Luxembourg (47%), Russia (46%) and Japan (46%).
The USA takes the crown with the most financial support for new businesses and entrepreneurs, with an index score of 15 out of 15. This means that the US is the best country for providing financial resources‚ such as equity, credit, subsidies and grants, to small and medium enterprises (SMEs).
When it comes to entrepreneurial education, Qatar leads the way with a score of 10 out of 10. The score for this was based on the extent to which training in creating or managing SMEs is incorporated within the education and training system at primary and secondary levels. Therefore Qatar’s education system is the best for preparing young people to start a business or become an entrepreneur.
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Πηγή: ceoworld.biz
