Motivating factors and barriers in the commencement of one’s own business for potential entrepreneurs

Figures & data

Table 1. Barriers hampering the commencement of one's own business.

Barriers	%
Lack of experience	47
Lack of capital	35
Risk of failure (the loss of the invested capital)	26
Inefficient and complicated rules and procedures relate to the implementation of business activity	21
High competition	19
Lack of the precise business ideas	19
High taxes	17
Inefficient and complicated rules and procedures related to the registration of business activity	17
Lack of knowledge and skills	16
High costs of labour	12
Fear of eventual loss of current job and permanent income	12
Lack of qualified assistance and advice, concerning business activity	11
Lack of contact with potential customers	10
Absence of business partners	9
Rapidly changing legislation	8
Inefficient labour legislation	6
Doubt of one's opportunities, the lack of self-confidence, low self-esteem	5
Lack of the expected support from the relatives and close friends	3
Fear of responsibility	2
Other	7
Low prestige of the profession of entrepreneur	1
Types of knowledge considered as barriers
Civil, commercial, economic, taxation legislation	59
Financial reporting, accountability	51
Regulations concerning the registration and implementation of business activity	45
Obligations, arising from the implementation of business activity	38
Negotiations in business	33
Management methods and skills	23
Marketing	21
Human resource management	17
Logistics management	15
Team management	10
IT-skills (use of computers and office software)	10
Quality management	10
Other	7

Source: Author's own investigation.