Business News

Entrepreneurial Activity in Slovenia Declining, Survey Shows

Washington, 20 January (STA) - Early-stage entrepreneurial activity in Slovenia declined strongly for the second year running in 2010, from 5.35% to 4.65% of the adult population, suggests the Global Entrepreneurship Monitor (GEM) survey.

Slovenia places Slovenia 50th among the 59 countries included in the study and 18th among the 26 European countries, the Slovenian GEM partner, the Institute of Entrepreneurship and Small Business Management at the Maribor Faculty of Business and Economics, said on Thursday.

The number of emerging entrepreneurs, those who have had a business for less than three months, dropped the most, from 3.15% of the adult population in 2009 to 2.21% last year.

The share of established entrepreneurs (who have been involved in business for over 3.5 years) dropped 0.6 percentage points to 5.02%, whereas the share of those who have had a business between three months and 3.5 years inched up to 2.44%.

Considering Slovenia's adult population, the Maribor institute estimates there were 130,000 entrepreneurs in Slovenia last year. This includes 43,000 emerging entrepreneurs, half of whom may never develop their activity to the point of running a business.

Although the share of the population owning a business is not necessarily correlated with GDP, the institute says that such a low rate of entrepreneurial activity is worrying.

In Europe the most active economies in terms of early-stage entrepreneurship in 2010 were Montenegro, Iceland and Latvia, while early-stage entrepreneurial activity was lowest in Italy, Belgium and Denmark.

Several European economies saw early-stage entrepreneurial activity decline, most notably Greece, Netherlands and Switzerland.

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