The Eurostat Factors of Business Success survey was carried out by 13 Member States (CZ, DK, EE, FR, IT, LV, LT, LU, AT, PT, SI, SK and SE) and the Acceding Countries (BG and RO) during 2005-2006. The objective of this survey was to “gain insight into the factors that determine the success and growth of newly born enterprises, especially looking into motivations for starting up own business, barriers and risks encountered during the first years of existence, the current situation of the enterprise, and business plans for future development”.
Some Survey Findings
- Prior entrepreneurial experience helps but may not be necessary for success.
- One of the entrepreneurs’ key challenges is customer discovery and engagement.
- Men display more optimistic traits than women about the profitability of their enterprise.
- Greater the education of the entrepreneur, the more innovative the perception of his/her enterprise.
- Founders of new ventures are most motivated by independence and money.
Access to Eurostat Factors of Business Success data
The FOBS database is freely available for public use and has been used in the following works of entrepreneurship research:
- Barkhatov, V., Pletnev, D., & Campa, A. (2016). Key Success Factors and Barriers for Small Businesses: Comparative Analysis. Procedia – Social and Behavioral Sciences, 221, 29–38. https://doi.org/10.1016/j.sbspro.2016.05.087