Cyprus continues to record positive performance regarding entrepreneurial perception and intention toward business activity. However, significant structural challenges remain, limiting the conversion of entrepreneurial intention into the actual creation of new businesses, according to the findings of the 9th National Report on Entrepreneurship in Cyprus 2024/2025 – Global Entrepreneurship Monitor (GEM).
The report was presented at the University of Cyprus, with representatives from academia, the business community, and public sector participating.
According to the report, 40.2% of adults in Cyprus say good opportunities exist to start a business, maintaining the trend in recent years. Also, 47.8% consider it easy to start a business, a rate close to the European average.
Citizens’ confidence in their entrepreneurial capabilities also remains particularly high, with 59.9% stating that they possess the necessary knowledge, skills, and experience to start a business. In addition, 68.3% reported personally knowing an entrepreneur, highlighting the strong presence of entrepreneurial networks in Cyprus. One in four participants (24.1%) said they expect to start a business in the next three years.
