Study: European entrepreneurs see opportunity in crisis

Despite the bleak economy at present, European entrepreneurs aren’t all gloom and doom: a study released today by Ernst & Young finds that entrepreneurs are more likely than corporations to be in opportunity-seeking mode rather than survival mode over the coming year.

Of 200 entrepreneurs surveyed for the study, more than 80 percent said they believed there are “opportunities to be exploited in the next 12 months.” Just 16 percent said they expected to be more focused on simple survival, compared to more than 30 percent of the corporate representatives surveyed.

“Entrepreneurs see growth and future opportunities as more important than battening down the hatches and protecting their existing business,” said Julie Teigland, EMIA (Europe, Middle East, India and Africa) head of strategic growth markets at Ernst & Young. “In the course of the study, several entrepreneurs have commented that ‘the minute your business is not focused on growth, you are already losing the battle and winding down.’ ”

In another study, also released today, Ernst & Young finds that UK energy companies will need to invest £230bn in new infrastructure by 2025 to “ensure the country’s future security of supply and that current climate change and renewable targets are met.”

That amount of funding, the analysts note, is “equivalent to doubling the value of the UK’s total energy supply asset base.”