Most Romanians Fear Bankruptcy When They Think Of Starting A Business

Romanians who would like to start a business are mainly discouraged by the fear of bankruptcy, revenue fluctuations and loss of property, according to report published Thursday by the European Commission.

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Thus, 53% of Romanians aged between 18 and 64 said the fear of bankruptcy would discourage them if they had the chance to start a business, according to an EC report on innovation and competitiveness in 2011.

The survey reveals that Romanians, followed by the French and the Japanese, hold bankruptcy as their greatest fear.

The outlook of insecure revenue is the second greatest fear preventing Romanians from starting a business, as 43% said they are worried about this aspect.

In addition, 31% of Romanians who could start a business are afraid they might lose their property.

On an EU level, fear of bankruptcy seems to be the main element daunting potential entrepreneurs (claimed by 49% of respondents), while revenue insecurity (40%) and fear of property loss (37%) are ranked second and third.

Other elements discouraging business include job insecurity (20%), personal failure (18%) and lack of time or energy (15%).

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