The step into self-employment can be very risky for most people, but it can also bring advantages. Ideally, you have the freedom to pursue your own ideas and visions and can bring personal passions much more actively into the design of a company. At least in theory, the workload can be designed to better suit your lifestyle.
Self-employment has the potential to generate a higher income if you are successful. But we should not ignore the other side of the coin: the enormous risk of failure. Studies show that around 25 percent of new companies give up in the first year. After five years, around 50 – 60 percent of companies have financial difficulties or have to close.
Between steep career advancement and free fall
Statistically speaking, after 10 years, only a third of companies survive due to a lack of market demand, insufficient capital, poor business planning, ineffective marketing and too much competition. The US has a significant number of self-made millionaires who are deeply rooted in the country’s culture and history. Many believe that they can succeed through hard work, which is an important part of the American dream.
Successful individuals such as Steve Jobs, Jeff Bezos, Mark Zuckerberg, Larry Page or Howard Schultz are often highlighted in the media and inspire others to pursue their own entrepreneurial dreams. In Germany, around 3.6 million officially self-employed people were statistically recorded in 2023. A figure that has been stagnating for years, with areas such as consulting, IT services and creative professions clearly dominating.
Self-employment in Europe and its sectors
In France, many self-employed people work in the catering, retail and creative professions. The French government has launched various initiatives to support them, especially in the early stages. In the United Kingdom, around 15 percent of all professionals work on their own responsibility. Sectors such as graphic design, media and technology are more pronounced here than others.
In Italy, the self-employment rate is around 22 percent, the highest among the major European economies. In the south of the country in particular, autonomous work in family-run businesses is an economic driver. Many traditionally work as service providers in tourism and catering. Although Spain, which has a similar sector, has high unemployment, many people seek a saving solution in self-employment.
Economic conditions and support
In the Netherlands, creative minds in particular benefit from a strong network and an entrepreneur-friendly environment. In Scandinavian countries such as Sweden, Norway and Denmark, politicians are trying to compensate for the comparatively low numbers in Europe by providing state support for start-ups.
Greece is often considered one of the most suitable countries for starting a business, especially due to its recent reforms to improve the business climate. The government has taken initiatives to reduce bureaucratic hurdles and facilitate access to finance, making it easier for entrepreneurs to implement their ideas.
Self-employment: Why it offers opportunities | What you need for success | Who can provide financial support – all articles at a glance.
