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).
Report presentation
The report, covering the 2024-2025 period, was presented at the University of Cyprus with the participation of representatives from academia, the business community and the state.
Perceptions and confidence
The findings show that 40.2% of adults in Cyprus believe there are good opportunities to start a business, maintaining the positive trend seen in recent years. A further 47.8% consider it easy to start a business, a figure close to the European average.
Confidence in entrepreneurial ability remains high, with 59.9% saying they have the knowledge, skills and experience needed to launch a business. In addition, 68.3% of adults said they personally know an entrepreneur, highlighting the presence of entrepreneurial networks in Cyprus.
Entrepreneurial intention and barriers
Entrepreneurial intention is also elevated, with 24.1% of adults expecting to start a business within the next three years, above the European average.
Despite this, fear of failure remains a deterrent, with 50.8% of respondents saying it affects their decision to pursue entrepreneurial activity.
Activity levels
Early-stage entrepreneurship in Cyprus stands at 9.7%, while entrepreneurship among established businesses rose to 8.4%.
The report says entrepreneurial activity is more pronounced among younger people and those with higher levels of education, while a significant gender gap remains in early-stage entrepreneurship.
