Refugee entrepreneurship in Europe has become increasingly significant in the twenty-first century because of rising refugee influx (UNHCR, 2024), notably the big surge in Middle Eastern refugees in 2015–2016 and a second surge following the war in Ukraine. These two waves of refugees encountered different receptions and attitudes from host societies and institutions. The differences in reception impacted their integration and economic prospects. Furthermore, while some refugees faced war trauma, others fled political persecution or had other reasons for applying for asylum. At the same time, refugees vary in terms of skills and talents, as well as resources (e.g., financial resources and social capital) that they have upon their arrival to the host country. Despite scholarly attention, existing research often overlooks the diversity among refugees, hindering comprehensive understanding. Comparing refugees who fled their home countries for different reasons, this study offers an overview of how the resources the refugees brought and the obstacles they faced influenced refugee business ownership over the last three decades in Europe. By synthesizing literature, empirical studies, and policy discussions, it contributes to the academic discourse on refugee entrepreneurship and informs policy-making efforts aimed at supporting refugee integration and economic development in Europe.