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

• Author: Valentina Diana Rusu, Angela Roman
• Pages: 380-389

European Integration - Realities and Perspectives. Proceedings 2016

380

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: valentinadiana.ig@gmail.com.

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: aboariu@uaic.ro.