Within the framework of the international programme 'Global Entrepreneurship Monitoring', Luxembourg's national institute for statistics Statec, in partnership with the Ministry of the Economy and the Chamber of Commerce, has just presented the results of a study on entrepreneurship in Luxembourg. According to this study, the proportion of new entrepreneurs has reached 9.2% and thus remains above the European average of 8.6%.
This rate is much higher than those in our neighbouring countries. In Germany, the rate is 4.6%, while France is a little higher with 5.3%. Belgium did not take part in the 2017 edition of the survey. Overall, Luxembourg has an average rate among developed countries (9.1%) and it is well beyond the rate in Italy (4.4%), which lags behind in the ranking. With a rate of entrepreneurs of 16.7%, Canada leads this entrepreneurship league table.
Entrepreneurial spirit in the Grand Duchy
National experts and the surveyed population note that the infrastructure and government policies are the strong points of Luxembourg's entrepreneurship system. On the other hand, financing and the availability of qualified human resources and office space are the main challenges for future entrepreneurs.
Many government projects which promote entrepreneurship have been implemented in recent years. These programmes gave rise to an interest in entrepreneurship among 11% of the population. The proportion of individuals who followed an entrepreneurship course during their secondary education (32%) or after (45%) is higher among entrepreneurs than non-entrepreneurs (20% in secondary and 18% after secondary school). These figures suggest a positive association between entrepreneurship courses and starting up a new business.
About the study
The 'Global Entrepreneurship Monitoring' survey is a study in which 64 countries from the four corners of the globe are participating. It aims to study the attitudes and behaviours of citizens towards entrepreneurship as the constant renewal and creation of new businesses is a driving force for productivity and innovation. In 2015, 3,300 businesses were founded and 2,700 ceased trading.(Article written by the editorial team of the luxembourg.lu portal / Source: press release from the Statec)