Formula for Entrepreneurial Success in EU

The image “https://i2.wp.com/www.visnet-noe.org/images/eu%20flag.png” cannot be displayed, because it contains errors.Our friends across the pond have pulled together some stats about what makes a successful entrepreneur in the EU. The stats are culled from surveys that were conducted by the National Statistics Institutes of 15 countries in the EU. The goals of the survey was to identify some FOBS (factors of business success), which to them means your business survived for 3 years with the same founder/entrepreneur involved in the running the show.

So, what did they find? 1) You dont need experience in the area to be successful. 2) Most of the entrepreneurs found dealing with customers and the details of running their businesses to be the biggest headache, which is just kinda funny. The younger the entrepreneur the faster the business was likely to grow. While women found it easier to get paid for invoices then men, male entrepreneurs felt better about getting to profitability then the women. My favorite finding from the report is that the more degrees the entrepreneur had, the more likely they were to claim their business was “innovative”.

Its an interesting report check it out here.

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