Research shows that some potential entrepreneurs are still just considering starting a business: 14% have thoughts about business but no concrete plan, and 9% have an idea but lack finances or time.
Read more „Politico“: Trump tries to turn Kyiv into a scapegoat for his mistake
Where does the desire to start your own business come from?
The main motive for starting a business is the desire to work for oneself, indicated by 72% of respondents. 53% seek higher income, and 17% see business as an opportunity to use accumulated experience and competencies.
“The research results show that the desire to create a business remains strong, but there is still a significant preparation stage between desire and concrete action. Therefore, it is important not only to have an idea but also to clarify it, assess its potential, and understand how the idea could be tested in practice with minimal time and financial investments,” says Rasa Verkauskaitė-Kazanskienė, Head of Small Business Clients and Sales at Swedbank.
However, about 39% of people are held back by additional risks and responsibilities, 28% fear losing work-life balance, and 27% are satisfied with their current job and salary. Another 21% do not trust their ability to manage a business.
Emotional barriers are also compounded by practical challenges. Most often, people are held back by lack of finances (61%), formalities and bureaucratic burden (41%), refining and evaluating the business idea (40%), and sales and attracting new customers (38%). Meanwhile, 30% of respondents are also worried about possible failure.
Startup founders dare to take risks more often
Business founders also have doubts, but they often choose to reduce risks by acting and testing their idea as early as possible. For startups, a failed attempt often becomes an opportunity to understand what didn’t work and adjust the direction, so decisions are tested before investing more time or money.
Startup experience shows that a few practical things can ease the start: finding like-minded people, testing the idea, using technology, and community support.
“In the startup world, the most important thing is the mindset. You need the courage to act, try, not be afraid to experiment and make mistakes, because learning from mistakes is the fastest. Startup founders are not afraid of this because it is their daily routine: seeing a problem and thinking about how to create value from it. It is not necessary to immediately give up what you are doing now, but it is necessary to share your thoughts with others and find out if the idea has any value at all,” says Donatas Šumyla, Head of Startup Partnerships at ROCKIT.
You don’t have to start alone. Co-founders, partners, or the first team members can complement missing competencies and help evaluate the idea from different perspectives. Also, the idea can be started from a minimum viable product (MVP) or prototype, tested with potential customers, and improved based on their feedback. Artificial Intelligence (AI) and other digital tools are increasingly used for this.
Read more In Europe, calls to fight against «perverted» smart glasses are growing louder and louder
The environment in which the idea is developed is also important. 46% of those wanting to start a business would consult acquaintances who have their own business, 36% would look for training or acceleration programs, and 34% would be interested in business communities. Another 31% would turn to a mentor.
“You can also start in your own city: in coworking centers, you can discuss your idea with a mentor for free. Various startup acceleration programs, investor networks, and events operate in the country, helping to assess the idea’s potential and gain insights from more advanced like-minded people,” says D. Šumyla.
An opportunity to meet like-minded people
Conversations and new contacts often begin precisely by meeting other founders. One such meeting place this fall will be the startup conference “Startup Fair 2026,” taking place on September 17 in Vilnius at the LITEXPO Exhibition and Congress Center.
The startup event, organized for the 15th time, will gather more than 2,000 participants, 450 startups, and 430 investors from over 60 countries worldwide. The conference organized by Startup Lithuania and ROCKIT will invite attendees to look at future technologies and their creators, with the program focused on three themes: the human-creator, markets, and business creation in Europe.
The event will also host the largest business idea competition in Lithuania, “Pitch Battle,” where participants will compete for funding from leading Baltic investors. Previous competition winners have already attracted more than 22 million euros in investments.
More information about the program, speakers, investors, and tickets for the event is available on the official Startup Fair 2026 website.
More about “Startup Fair 2026”:
Date: September 17, 2026
Location: LITEXPO Exhibition and Congress Center and Energy and Technology Museum, Vilnius
Read more „Volvo“ starts serial production of electric trucks with a range of up to 700 km
Tickets here.
