Budapest, June 5 – Fully 48 percent of Hungarians are interested in starting their own business or becoming a member of an existing one, according to a fresh survey by NRC commissioned by Budapest Bank.
The survey of 1,000 internet users between the ages of 18 and 50 revealed the 18-24 age group as the most entrepreneurial one in Hungary, with 68 percent of them expressing a desire to start a company of their own.
Although many of the survey’s respondents said they were interested in starting their own business, only 27 percent said they had specific plans to do so and only 6 percent have made preparations to launch their company.
Fully 83 percent of respondents cited independence as a motivation for starting a business. A total of 30 percent were attracted by the flexible schedules that come with being self-employed and 24 percent said they were drawn to the potential of a high income level compared to working as an employee.
Fully 64 percent of the total sample and 77 percent of respondents under the age of 25 said they would launch their business with their own money. About a quarter of respondents said they would take up a bank loan.
A total of 78 percent named a lack of money as the biggest barrier to starting a business. Fully 46 percent said they were limited by a lack of connections and 37 percent named a lack of knowledge and skills needed to run a business as the biggest deterrent to starting one.