Abstract: | |
Youth entrepreneurship is an increasingly prominent aspect of entrepreneurship support policies, but there is surprisingly little relevant research-based empirical evidence. This research gap is particularly noticeable when it comes to the personal and contextual factors that steer young people’s decision to start a business. Using statistically representative survey data from the Global Entrepreneurship Monitor for Germany, we apply logit regressions to determine the influence of 10 independent variables on the likelihood of starting a business. We distinguish between 18–24-year-olds and 25–64-year-olds as well as between founders and non-founders. Self-efficacy in entrepreneurial skills, fear of failure and gender are the strongest influencing variables for the person-related factors and knowledge of other founders for the contextual factors. For younger people, the formal level of education and the perception of local entrepreneurial opportunities do not play a role in the decision to start a business, whereas they are very important for older people. Our results suggest that start-up promotion policies should explicitly address the empirically proven factors of youth entrepreneurship instead of a ‘one size fits all’ policy for new businesses, regardless of the age of the founders.
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License of this version: | CC BY 4.0 Unported - https://creativecommons.org/licenses/by/4.0 |
Publication type: | Article |
Publishing status: | publishedVersion |
Publication date: | 2023 |
Keywords english: | demographics, entrepreneurship, entrepreneurship policies, Germany, Global Entrepreneurship Monitor (GEM), spatial context, youth entrepreneurship |
DDC: | 330 | Wirtschaft |
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