Entrepreneurial Intentions and Early-Stage Entrepreneurial Activity in Danube Economies: The Roles of Opportunity Perception, Perceived Capabilities and Fear of Failure

Although many individuals express entrepreneurial intentions, only a minority becomes entrepreneurially active. This study examines how entrepreneurial perceptions are associated with entrepreneurial intentions and early-stage entrepreneurial activity in Danube-region economies using Global Entrepreneurship Monitor Adult Population Survey data for 2018–2021. Weighted logistic regression models with country and year fixed effects are estimated on pooled repeated cross-sectional data. Perceived opportunities, perceived capabilities, and entrepreneurial network exposure are positively associated with entrepreneurial intention, whereas fear of failure is negatively associated with it. Among respondents reporting intentions, perceived capabilities remain the strongest positive correlate of current entrepreneurial engagement, whereas perceived opportunities lose statistical significance. Women also show consistently lower odds of both entrepreneurial intention and early-stage activity. The findings suggest that entrepreneurship support may need to combine opportunity awareness with capability-building, gender-responsive support, mentoring, and measures that reduce failure-related barriers.