Entrepreneurial intentions and entrepreneurship in European countries

Purpose This study aims to pursue better understanding and investigation of the factor that can have an impact on the level of entrepreneurial activity. To achieve this, statistical analysis was conducted. Indicators from 22 countries of the European Union were reunited to compare the differences between entrepreneurial intention and entrepreneurship. Design/methodology/approach To analyse entrepreneurial intentions in Europe, two databases of the Global Databases Entrepreneurship Monitor (GEM) were used, namely, “GEM NES Key Indicators 2007-2015” and “GEM APS Key Indicators 2001-2015”, available at www.gemconsortium.org/data/sets, considering only the data from 2015 and analysed with IBM SPSS Statistics tool. Each original database includes 60 countries, and this study is limited to an analysis of only countries of the European continent, resulting in a sample of 22 countries. Findings The major determinants of the entrepreneurial intention in the countries studied were: “perceived capacity”; “entrepreneurial intention” itself which will, in fact, influence the “rate of nascent entrepreneurship”; “governmental and political factors” in relation to the respective “financing for the entrepreneur”; and “basic education and training” in entrepreneurship which influences “research and development”. Research limitations/implications This study has few limitations because, as it refers to a European analysis, it would require a more generalized analysis of the factors, such as to include more and better indicators for the demographic, economic and institutional determinants of the entrepreneurial intentions and entrepreneurship in the European countries under study. For future research on the explanation of commercial activity, we must address the methodological problem of distinguishing the effect of business intentions from other determinants, as these also influence entrepreneurial attitudes. Despite the conceptual and empirical limitations, the conclusions of the study imply and provide several recommendations for the future policy of entrepreneurship in Europe. Practical implications In the past decades, entrepreneurship and entrepreneurial intentions have gained increasing attention from academics, governments and politicians around the world. It is seen as a critical factor for economic growth and development of a country, as it contributes to the solution of fundamental macroeconomic issues such as increased employment, development of competitiveness, in