Page 149 - guidance-supporting-europe-s-aspiring-entrepreneurs-policy-and-practice-to-harness-future-potential

Guidance supporting Europe’s aspiring entrepreneurs
Policy and practice to harness future potential

Example 34. Entrepreneur test (Yrittäjätesti), Finland

Finnvera plc is a specialised financing company owned by the State of Finland. It provides its clients
with loans, guarantees, venture capital investments and export credit guarantees.
The Finnvera personality test is available on its website. The test requires the user to have an
idea of the type of business they are interested in setting up. It starts with an introduction to being
an entrepreneur and seeks to clarify any myths. Individuals are guided through the test by an
interactive film, which pops up before and after each question. The accompanying film provides
information as well as encouraging users to think about their answers alongside their aspirations,
key strengths and weaknesses. It also aims to see how well prepared individuals are to set up their
own business.
At the end of the test, individuals are provided with an entrepreneur profile. The profile
comprises:
• a summary of their strengths in relation to being an entrepreneur;
• training and development needs;
• key challenges and barriers to success;
• an estimate of the time needed to run the type of business they have in mind;
• required income to set up the business they have in mind, and information on profitability and
cash flow;
• information about the business idea (i.e. services/products of the company and how customers
are going to benefit from it), main competitors and unique selling points.

In Austria, a similar test was developed by psychologists for the Federal
Economic Chamber. Some of the questions ask users their opinions on the best
action to take in fictional situations. Participants first answer some general
questions about themselves (gender, age, education, location) then move on to
60 multiple-choice questions that explore their motivations in becoming an
entrepreneur and determine the best action to take in a fictional situation.
Comparative tests allow the user to compare themselves against successful
entrepreneurs and identify if they are on the path to becoming successful
entrepreneurs. This kind of test can be found in Spain and the Netherlands. A
Spanish example maps a users profile relative to the experiences of 150
successful entrepreneurs (see Example 35).

Example 35. Entrepreneur self-diagnosis, Spain

The Entrepreneur self-diagnosis (Autodiagnóstico emprendedor) test, on the Emprendedores
website tests aspiring entrepreneurs’ strengths and weaknesses. Experts from the Autonomous
University of Madrid (UAM) created a tool to test the skills of those who want to become
entrepreneurs based on the experiences of 150 successful entrepreneurs.
The test consists of 25 questions that focus their attention on qualities needed to develop a
business. After completing the questions the site will calculate the result and identify what stage the
user has reached as follows:
• their idea needs further development;
• they are almost ready to become an entrepreneur, they need to think about the reason for
starting a business;
• they are ready to become an entrepreneur, they are committed to the project.

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