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How confident are you about your business? A recent study shows that entrepreneurs within the Baltics have very different opinions regarding the security of their finances, the threat to their lives, and healthcare, as outlined by PZU Lietuva.

In summary, the results show that Estonians feel very secure, Latvians feel the least secure, and Lithuanians feel overall safer than the rest of society.

Those who have their company’s headquarters in Estonia feel the most secure: with 86 percent saying they feel secure about their capital, while 75 percent say they feel secure about their finances.

Business owners in Lithuania feel most confident about their personal security, with 67 percent saying they felt safe in this regard, but less safe about their finances (54 percent) and health (55 percent).

However, business owners in Latvia don’t feel as secure as their Baltic neighbours: with only 28 percent of respondents feeling that their capital and their lives were secure, and only 41 percent feeling that their finances felt secure.

The variations in the responses are determined by several factors, including the economic conditions, the state’s approach towards the business community and the specific business conditions, the judicial system, levels of corruption, etc.

“The perceived levels of security vary significantly between the entrepreneurs of the three Baltic States. While Lithuanian and Estonian entrepreneurs are mostly worried about their financial situation, in Latvia finances is the least of the problems, as business persons are much more concerned about ensuring the safety of their capital and their own lives,” explained the CEO of PZU Lietuva, Marius Jundulas, as quoted in the press release.

“Moreover, the sense of security within the Estonian business community is very strong and demonstrates high confidence of the business owners; Lithuanian businesspeople feel less secure than their Estonian counterparts, yet they are more confident about their security than the average person in the country. On the contrary, in Latvia business owners feel much more insecure than the average citizen,” he continued.

Jundulas noted that with the perceived level of security of Estonian business owners being twice the level recorded in Latvia, this demonstrates that Latvian entrepreneurs are much more aware of risks while setting up their business than their Estonian neighbours.

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