ECONOMY

Graduates try hand at business

The country’s entrepreneurs improved their level of education in 2007, helping to boost the quality of their business activity, in a development that reflects the difficult labor market for graduates, according to survey results made public yesterday. The Foundation for Economic and Industrial Research (IOBE), which collects local data for the Global Entrepreneurship Monitor, found that 38.5 percent of new and aspiring entrepreneurs last year had a university or college degree, up from 18.3 percent in 2006. «Encouraging people with higher levels of knowledge to operate in business upgrades the quality aspect of business activity,» IOBE said in a report. «However, spotting a business opportunity is not enough, with the next steps reliant on the profile of the businessman,» it added. Recent data from the Organization for Economic Cooperation and Development showed that Greece’s graduates aged between 25 and 29 have greater problems finding work than their peers who have only completed secondary education.