Nicosia, Cyprus. Cypriots have strong entrepreneurial perceptions and intentions, but structural challenges continue to limit the creation of new businesses, according to the 9th national entrepreneurship report for Cyprus by the Global Entrepreneurship Monitor (GEM).
Entrepreneurship findings
The report, covering the 2024-2025 period, was presented at the University of Cyprus with representatives from academia, the business community and the state in attendance.
The findings show that 40.2 per cent of adults in Cyprus believe there are good opportunities to start a business, maintaining a positive trend in recent years. At the same time, 47.8 per cent said they consider it easy to start a business, a figure close to the European average.
Confidence in entrepreneurial ability remains high, with 59.9 per cent of respondents saying they have the necessary knowledge, skills and experience to launch a business. In addition, 68.3 per cent said they personally know an entrepreneur, pointing to the strong presence of entrepreneurial networks in Cyprus.
Bank of Cyprus note redemption
Separately, Bank of Cyprus Public Company Limited said it has decided to exercise its legal right to early redeem outstanding senior preferred notes totalling €300 million.
The parent company, Bank of Cyprus Holdings Public Limited Company, and its subsidiaries issued the corporate update to global financial markets.
The instruments subject to early repayment are fixed-rate notes with a reset provision that were originally distributed to international investors. The debt was issued on June 24, 2021, with a final maturity date in 2027.