A recent study published in 2016 and implemented by FACE Entrepreneurship, a European project to help potential entrepreneurs break down the barriers of fear of failing to set up startups, found that while financial risk was the primary concern, the job risk came second

The fear of losing a stable professional future (if efforts to start a private business fails) is fundamental to many people

Many countries support the provision of financing to entrepreneurs. However, reducing professional risks is equally important and is often overlooked by policymakers
A pilot experience adopted by Sweden to overcome the fears of occupational failure and job security for potential business entrepreneurs, and provide rare experimental data to support this idea

Unique Swedish holiday system

Sweden, with a population of just 10 million, has gained a reputation as one of the most innovative countries in Europe in recent years. The most common reasons for this are the strong digital infrastructure, the culture of cooperation and private insurance for affordable unemployment, which provide a greater social safety net than many countries

Over the past 20 years or so, Sweden's employees have had a unique and unusual advantage: a legal right to leave work for six months without pay; in order to start their own businesses and startups, Business in the country

The law on the right to leave work for the execution of operations, projects or commercial enterprises is one of a series of unique and privileged rights granted to Swedish employees, such as the right to take leave to study or care for a family member

It is also one of the reasons why the country's capital, Stockholm, is ranked as the capital of Europe for emerging companies, and comes second after Silicon Valley in California in the number of start-ups whose capital exceeds one billion dollars

The legal right to unpaid leave contributed to that. While the increase in trend - especially in technology - and the high demand for all types of leave (including leave paid to parents at childbearing) was observed coinciding with the increasing number of Swedes starting their own businesses

Swedish Entrepreneurship and Success stories

Entrepreneurship in Sweden

Spotify was floated on the New York Stock Exchange last year with a market capitalization of $ 24.5 billion
One of the most important success stories for start-ups in Sweden is Spotify, which is famous for managing the rights of sound recordings and broadcasting them to users either free of charge with ads or through a paid subscription. Founded in 2006, the company was listed on the New York Stock Exchange last year and has a market value of more than $ 24.5 billion

Other startups include Skype, which Microsoft bought in 2011 for $ 8.5 billion, and Mojang, a video game company behind Minecraft, which Microsoft bought in 2014 for $ 2.5 billion

Entrepreneurship in Sweden

An archival photo of a staff of Spotify Headquarters, Stockholm
This unique system helped the psychologist, Jana Cagin, establish her company for furniture production and refurbishment. She was primarily an employee, and she received an unpaid leave that paid her project to come to light.
Returning to our subject, any person who works full-time is entitled to apply for unpaid leave, or Tj√§nstledighet as called in Sweden, for at least six months, to work on the idea of ​​establishing his own startup company

This ensures job security, a reliable source of income in time of crisis, the possibility of maintaining the job and guaranteeing the right to return to it if the project fails. It reduces financial risk and its consequences, thus encouraging entrepreneurship and entrepreneurship. There is a growing trend in many countries to support people seeking to develop a business outside regular working hours, and then devote their leisure time to their care