Concerning the administrative burden, the average cost of starting a business with up to 50 employees in the euro area is estimated to be 10 times higher than in the US, according to the World Bank.
That is, if entrepreneurs have not given up starting a business in the meantime, as it takes on average 27 days to set up a new business in the euro area, compared to just 5 in the US 8 . I always had respect for entrepreneurs, but it’s getting larger in view of the red tape they have to cut through.