Characteristics Of The Entrepreneurial Environment In European Union Countries: A Comparative Analysis

Author:Valentina Diana Rusu, Angela Roman
European Integration - Realities and Perspectives. Proceedings 2016
Characteristics of the Entrepreneurial Environment in European Union
Countries: a Comparative Analysis
Valentina Diana Rusu1, Angela Roman2
Abstract: The major importance of entrepreneurship for economic growth, competitiveness, creating jobs
and innovation is widely recognized. The objectives of our paper are to realize a comparative analyze of the
characteristics of entrepreneurship in the EU countries, as well as to identify the perceptions ab out it. For our
analysis we use the values for the key indicators obtained from data base and reports of Global
Entrepreneurship Monitor. Also, in order to realize the comparison we use the classification of EU countries
according to their development level. The results obtained show that there are important differences between
the EU countries regarding entrepreneurial activity, but also among the countries in the same group. The
countries with a higher economic d evelopment have a better entrepreneurial environment than those less
developed. Regarding the perception about entrepreneurship, our results show that almost half of working age
population from EU observe good opportunities in the region for starting a b usiness, but almost as many of
them affirm that a big constrain in starting a business would be their fear of failure. Overall, the results of our
research allo w identifying the measures that would be required to be taken by policy makers to stimulate
entrepreneurship in European countries.
Keywords: entrepreneurship; entrepreneurial activity; economic development; GEM
JEL Classification: L26; J23; O31
1. Introduction
Internationally it is widely recognized the major importance of entrepreneurship for economic growth,
competitiveness, creating jobs and innovation. The role of entrepreneurship in achieving economic and
social objectives and the need to promote the entrepreneurial spirit is in the spotlight of the decision
makers at EU level, being highlighted by the European Commission both through the Lisbon Strategy
and the current Europe 2020 strategy. The concern of the European Commission for the promotion of
entrepreneurship it is highlighted also by the Small Business Act, adopted in 2008 and which aims to
promote and support entrepreneurship and SMEs growth (European Commission, 2008). In the
context of reviewing, in April 2011, of the Small Business Act, the European Commission proposed
Entrepreneurship 2020 Action Plan (European Commission, 2013), which was adopted in January
2013 as part of Europe 2020 strategy. This plan aims to facilitate the creation of new businesses, but
also to create a more favourable environment to entrepreneurs so they can develop, and it is targeting
three strategic areas, namely: developing entrepreneurial education and training to support the growth
1Researcher, Department of Interdisciplinary Research, Human and Social, “Alexandru Ioan Cuza” University of Iasi,
Romania, Address: 54 Lascar Catargi Street, Iasi, Romania, Corresponding author:
2Associate Professor, Faculty of Economics and Business Administration, “Alexandru Ioan Cuza” University of Iasi,
Romania, Address: 22 Carol I Bvd., Iasi, Romania, Tel.: +40 232 201440, E-mail:

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