Fearful to be an entrepreneur? A cross-country analysis of factors inhibiting entrepreneurship

Abstract

This paper is an empirical analysis that has explored personal and socio-economic factors that may inhibit entrepreneurial activity in two diverse countries--the UK and Brazil.  Results show that British and Brazilian males, when they are skilled are less afraid to start a new venture. Results also show that this could be owing to a high status accorded in both the countries to new business start-ups. However, whereas media publicity may add to the fear factor of starting a business in the case of British entrepreneurs; it lessens the fear in the case of Brazilian entrepreneurs. Past failures seem to have no impact on British entrepreneurs, but such failures do seem to add to the fear in Brazilian entrepreneurs. Positive planning to start a new business adds to optimism for British entrepreneurs. Contrary to UK males, younger Brazilian males are less fearful of starting a new business.