Why 84% Of Europe’s Entrepreneurs Refuse To Quit Despite Income Anxiety And Regulatory Hurdles

Financial anxiety may be stalking Europe’s entrepreneurs, but a return to traditional employment is not on the cards for most. New research surveying 1,600 founders and business owners reveal tension at the heart of European entrepreneurship: while 30% cite maintaining a regular income as their biggest financial challenge, more than 80% say they have no plans to give up independence over the next year.

The data, gathered in November 2025, paints a picture of a continent where entrepreneurship is driven less by necessity and more by choice. Across the four surveyed countries (France, Germany, Italy, and Spain), founders are primarily motivated by autonomy rather than economic pressure.

The research was conducted by Appinio on behalf of Paris-based FinTech startup Qonto.

Commenting on the findings, Alexandre Prot, co-founder and CEO at Qonto, said: “Our latest research confirms something we’ve always believed at Qonto: entrepreneurs don’t lack passion or ideas. They lack the financial infrastructure they need to build and grow their businesses. When 30% of entrepreneurs name income anxiety as their biggest financial challenge, more than double any other issue, we’re looking at a systemic problem.”

Work-life balance (31%) and creative freedom (31%) top the list of reasons for going independent, followed by the pursuit of a personal passion (17%). By contrast, only 11% say they were pushed into entrepreneurship by economic necessity, and just 4% cite hitting a financial ceiling in employment as a key driver.

In other words, most European entrepreneurs are not fleeing bad jobs; they are chasing a different way of working.

National differences add texture to the story.

In France, 36% of respondents point to work-life balance as their primary motivation – the highest in the survey. Germany stands out for its emphasis on creative freedom, selected by 37% of entrepreneurs. Spain presents a more pragmatic profile, with 17% citing economic necessity, the highest proportion among the four countries, and just 9% describing passion as their main motivator.

Yet independence comes at a cost. Income instability overshadows every other financial concern, with 30% naming it as their top challenge – more than double the next most common issues, such as separating personal and business finances (12%) or understanding and optimising taxes (11%). Compliance costs (8%) and planning growth investments (12%) rank lower, suggesting that many founders remain focused on day-to-day survival rather than long-term financial strategy.

There is also a notable geographical divide in income anxiety. In France, 33% of entrepreneurs report income as their main concern, compared with 18% in Spain – a 15-point gap between the highest and lowest levels of reported stress.

If predictable income is the dream, it is also the most missed feature of traditional employment. When asked what single change would most improve their situation, 25% of respondents selected more predictable income. This was followed by less administrative burden (19%), simpler tax and compliance processes (13%), and better access to benefits such as pensions and healthcare (9%). Only 4% said they would change nothing at all, rising modestly to 7% in Germany, the highest satisfaction rate in the survey.

The findings also reveal how entrepreneurs cope. One in three (33%) lean primarily on friends and family for emotional or financial support. Professional networks and communities (24%) and service providers such as lawyers and accountants (21%) also feature prominently. However, 21% report relying on no external support at all. Italy stands out here, with 30% of respondents describing themselves as entirely self-reliant. Spain, by contrast, appears more collaborative, with just 12% going it alone.

Gender differences emerge in support structures. Women are more likely than men to turn to friends and family (36% versus 31%), while men are more likely to cite professional service providers as key resources (24% versus 18%).

Perhaps the most revealing insight concerns resilience. Although 70% of those surveyed describe starting and running a business as “complex” or “very complex” – particularly in Italy, where 79% report difficulty – 84% expect to remain independent through 2027. Germany, which self-reports the most favourable operating environment, sees 37% describing the process as “easy” or “very easy”.

Interestingly, the ease of doing business does not directly correlate with plans to stay.

France reports one of the more manageable environments, yet 25% of French entrepreneurs say they intend to return to employment by 2027, the highest potential exit rate among the four countries.

The data suggests that longevity is shaped less by regulation alone and more by a combination of personal motivation, expectations, adversity, and overall satisfaction.

Taken together, the results highlight a defining paradox of European entrepreneurship in 2026. Founders are anxious, often stretched, and navigating systems they describe as complex. They miss the security of predictable income and the safety net of employment benefits. Yet they remain committed to independence.

For most, entrepreneurship is not a fallback plan. It is a deliberate lifestyle choice – one that prioritises autonomy over certainty, even when certainty feels scarce.

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