Nearly half (49pc) of all Irish adults would like to be their own boss while 23pc are taking active steps to set up a business of their own, according to an EU survey that looks at entrepreneurship and employment preferences across Europe.

The survey highlights a series of positive attitudes towards entrepreneurship in Ireland including that 31pc of those surveyed in Ireland who are employees felt that they could become their own boss in the next 5 years.

It found that 23pc of respondents in Ireland said that they were taking steps to start a new business or had done so, while a further 13pc were thinking realistically about it.

Some 78pc of Irish people thought that good ideas were the most important aspect of a new business and 1 in 5 Irish people have a fear of bankruptcy due to setting up a business that may fail and 24pc would have a fear of what would happen to their income.

The Director of the Small Firms Association, Avine McNally said that the recent findings of an EU study on Entrepreneurship are very encouraging for future entrepreneurs. According to McNally, it is essential for Ireland to develop an entrepreneurial culture. There is never a good time to start a business, yet over 1,080 people a month in 2009 took the risk and set up a business in Ireland.

The EU Survey looks at entrepreneurship and employment preferences across Europe and some of the other major world economies. Taking the plunge and starting a business can be risky and the survey shows that across Europe, Irish people are amongst the most willing to throw caution to the wind. The survey shows that nearly half of Irish people (49pc) would like to be self-employed or start their own business, this is higher than the EU average of 45pc.

The reasons why Irish people would like to be self-employed are due to the personal independence, self fulfilment and the chance to work in an area they are really passionate about, said McNally.