The results of GEM Switzerland 2014 reveal a general reluctance to start-up - in spite of excellent economic conditions and a low fear of failure. This tendency is particularly pronounced among the young (18-24 year olds). There is also a divide along linguistic lines.
An increasingly timid young generation
While 18-24 year olds consider entrepreneurship to be a serious career option, they are not so sure about their own entrepreneurial abilities. This observation reveals a lack of self-confidence and indicates that this generation is not quite ready to leave the comfort zone of a guaranteed monthly salary. One solution to this would be to include lessons at school which stimulate entrepreneurial spirit and innovative tendencies from an early age.
Linguistic divides prevail even in the entrepreneurial sphere
The GEM findings highlight once again the regional differences between Switzerland's linguistic cultures.
The measures of 'perceived opportunities' and 'perceived capabilities' are significantly higher in German-speaking regions than in their French and Italian counterparts. Fear of failure is lowest in German-speaking regions. However, French-speakers rank highest in terms of how positively they view an entrepreneurial career; start-up intentions are also highest among up this group.
A very Swiss ambivalence
Yet again Switzerland ranks among the countries offering the most favourable conditions for start-ups - only Singapore enjoys the same status. Experts interviewed as part of the GEM survey are very positive, in particular with regard to finance, infrastructure, and the dynamic internal market.
Compared to other innovation-driven (most developed) economies, the Swiss display a very low fear of failure. Barely 29% of the economically active population would be dissuaded from starting a business out of fear of failure, putting Switzerland ahead of the United States.
However, entrepreneurial activity comes in at 7.1%, below the average for innovation-driven economies. This even shows a slight decrease on the 2013 figure.