How do certain Factors affect the fear of Failure in Entrepreneurship? Regional comparison of the Factors that drive the Fear of taking the Risks of starting a Business

DOI:  10.5176/2251-1970_IE14.08

Authors: Joachim Heinzel B. Sc., Dipl. Biol. Hossein Askari, Prof. Dr. Richard Geibel

Abstract:  This research paper aims to identify the factors which drive the fear of failure among potential entrepreneurs in differ-ent countries. Our findings suggest that it is a weak economic growth and low start-up activity in a country in whole what increases individuals’ fear of failure and prevents them from starting a business even if they recognize a good opportunity.

Keywords: fear of failure rate; opportunity; start-up activity; economic development; reputation; entrepreneurship education