The percentage of individuals identifying business opportunities and implementing them within six months is on the rise in Switzerland. In 2019, the percentage was 40.6% and then dropped to 26.7% in 2020. By 2021, this number increased dramatically to 54.7% according to the latest GEM Switzerland National Report.
However, also noteworthy is that around a third (30.4%) of those who report recognizing business opportunities are prevented from actually implementing them due to fear of failure. Also, only 40.5% view entrepreneurship as interesting pathways for one's professional future, compared to 76.2% in the US and 70.4% in the UK.
Report authors Rico J. Baldegger, Raphael Gaudart and Pascal Wild – all of whom are professors at The School of Management Fribourg (HEG-FR), a member of the University of Applied Sciences and Western Switzerland (HES-SO) – highlighted recommendations for policy and practice in the report. This covers areas such as women entrepreneurs and diversity; SMEs, family tradition and succession as new venture creation; and entrepreneurial education, among other topics.
“The traditional career path of a stable job with steady hours, a regular paycheck and a solid pension – job for life – is no longer an option for many people,” they write. “New organisational concepts and career perspectives of young talents are influencing the entrepreneurial ecosystem. Furthermore, critical incidents, such as COVID-19 or global conflicts, will be observed over the next few months. The entrepreneurial ecosystem is to be fostered in rural and semi-rural areas by integrating, decentralising, and coordinating efforts, and by regarding SMEs as the backbone for policies.”
The report findings are based on 2,012 interviews and 36 talks with experts that shed light on entrepreneurial attitudes, activities and aspirations and identify the factors influencing the type and extent of these entrepreneurial activities. Report partners include Impact Hub Switzerland, the Swiss Economic Forum and the Swiss Start-up Factory.
You can access the complete report at the following link.