In Europe, youth entrepreneurship remains a paradox: high aspiration, low activation.
In 2022, just 7% of Europeans aged 20–29 were self-employed, half the rate of the working-age population as a whole. Though 39% of youth (15–30) say they prefer self-employment to traditional work, only about 5% are actively working on a start-up, (nascent entrepreneurship), and 4% run a business under 42 months old, bringing the EU’s total early-stage entrepreneurial activity (TEA) for 18–30-year-olds to 9% (GEM 2018–2022). Nearly three in four young would-be founders, 73%, identify access to finance as their primary obstacle to getting their business idea off the ground, while fewer than half feel they have the practical skills to navigate even the earliest stages of startup life. Another factor, that is the fear of failure, is also on the rise, affecting 49% of potential entrepreneurs globally (GEM 2024), slamming the brake on potential.
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The Cyprus story is a little more nuanced, though. The island’s youth early-stage entrepreneurial activity (TEA) for ages 18–30 stands at 9%, above the EU average of 7%—but hides the divergence among 18–44-year-olds, where TEA reaches 12.4%, suggesting a concentrated burst of early initiative. More significantly, Cypriot youth report markedly higher confidence: 22% expect to start a business in the next three years (versus the EU’s 12–12%), and over 50% believe they have the skills to do so (compared with 40–42% across the bloc). Notably, only 7% of young entrepreneurs building on the island are driven by necessity. Less than half the EU average of 18%, suggesting instead an uptick of opportunity-led, ambition-driven ventures.
Aspiration alone won’t scale, unfortunately. With an estimated 1,000–2,000 young self-employed individuals across a 1.2-million population, structural gaps continue to limit both appetite and opportunity for scaling. Funding, while available through schemes like MECI’s Youth and Women Entrepreneurship (up to €120,000 for under-30s) and RIF’s Future Founders Academy, funds are unevenly distributed. Mentorship is few and far between. Culturally, entrepreneurship is still often read as deviation, not direction, and not encouraged.
Which is why what’s unfolding at ground level demands attention.
Across the island, a new generation of founders is stepping forward. They are not waiting for perfect conditions and are not relying on safety nets. They are bootstrapping in a high-cost, low-subsidy environment. They are building across the full spectrum of the island’s commercial fabric, from agile marketing studios and reimagining food and beverage for local and global palates, to opening unique retail concepts, and developing tech tools.
This Future Media Young Entrepreneurs Take The Spotlight series turns the lens toward those who are rewriting the script, not with venture capital backing or inherited advantage, but with inspiring determination, iterative creativity, and the kind of relentless hard work that transforms side hustles into scalable businesses.
Because the question isn’t whether youth entrepreneurship in Cyprus can scale.
But what happens when the ecosystem finally meets them where they stand?
Our first interview features Daniele Romano, born and raised in Napoli, Italy, founder of Filomena Pizzeria Napoletana, an authentic Neapolitan pizzeria based in the heart of Larnaca, Cyprus, where they serve classic Neapolitan pizza made with respect for tradition, quality ingredients, and a lot of love for their culture.
1. What made you decide to start a business in Cyprus?
Cyprus felt like the right place at the right time. After many years abroad, especially in London, I wanted a place where I could build something of my own, grow at a human pace, and bring real Neapolitan pizza to people who appreciate quality. Larnaca had that balance — opportunity, warmth, and space to create something authentic.
2. What have been the toughest parts of building and running your business here, and how have you dealt with those challenges so far?
Starting from zero in a new country is never easy. Different systems, suppliers, expectations — everything takes longer than you think. One of the toughest parts was staying patient when things didn’t move at the speed I was used to. I dealt with it by adapting, listening, and learning the local rhythm instead of fighting it.
3. On the days when it feels hard to keep going, what keeps you moving, what really fuels your hustle?
My roots. I think about where I come from, the sacrifices I made, and the dream I had since I was a kid. Also, seeing customers enjoy my pizza — that moment reminds me why I started and why it’s all worth it.
4. No one builds alone. Who or what has been part of your support system?
My family has always been a strong source of support, even from afar. Over the years, I’ve also built meaningful relationships through hospitality that helped guide me. Most importantly, my staff has been a huge part of this journey; their commitment, energy, and belief in the project made the daily challenges manageable. In Cyprus, the local community and early customers also played a key role by supporting us from the very beginning.
5. What advice would you give to another young entrepreneur in Cyprus who wants to start something of their own but is hesitating?
Don’t wait for the perfect moment — it doesn’t exist. Start with what you have, be ready to work hard, and accept that mistakes are part of the journey. If you truly believe in your idea and stay consistent, people will feel it.
