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Germans more ‘entrepreneurially motivated’

A survey conducted by Idinvest, Le Figaro and Viavoice found that more than half of German respondents are entrepreneurially motivated to start their own business and have a more favourable view of domestic, European and global economic conditions than their UK and French peers.

German adults are more entrepreneurially motivated than their British and French counterparts, according to a survey by Idinvest Partners.

The study, which involved 5,000 French, 1,000 UK and 1,003 German respondents, was carried out by Idinvest, Le Figaro and Viavoice. It found that 56 percent of Germans said they would be motivated to start their own business given the opportunity, while 44 percent of British and 30 percent of French respondents said so.

In relation to these answers, 57 percent of German respondents said they view the economic conditions in their country as an asset to starting a business, compared with 29 percent in the UK and 13 percent in France. Germans were also more positive about banks: 34 percent of them said the current capacity of banks to finance startups is an advantage, whereas 22 percent of the UK and 18 percent of French respondents said so.

Germans also held a more favourable view of worldwide and European economic conditions than their British and French counterparts.

Nonetheless, 60 percent of French respondents viewed activities in their interested sector as an advantage to start a business, compared with 54 percent German and 40 percent of British respondents.

“Entrepreneurial motivation in France is being boosted by a wave of confidence among entrepreneurs in innovative sectors, especially digital, biotech and cleantech,” Idinvest executive board member Benoist Grossmann said.

At the same time, UK entrepreneurs showed more financial independence, with half of them interested in building a business with their own savings, compared with 48 percent German and 45 percent French who said so.

Only one in five UK respondents expect to use a bank loan, whereas 38 percent of each of French and German respondents said so.