93% Indians want to be entrepreneurs: Study
The new age Indian is full of enterprise, and how!business Updated: Apr 14, 2016 22:46 IST
The new age Indian is full of enterprise, and how!
According to the Amway Global Entrepreneurship Report (AGER) 2015, India ranks highest among 44 countries worldwide in entrepreneurial spirit: 9 out of 10 Indians show strong desire to be an entrepreneur.
“93.6% of Indians show desire to become an entrepreneur. This is way above the average score of 55% for all the 44 countries (studied),” the annual report by the US-based $9.5 billion multi-level marketing company.
Indian entrepreneurs ‘want to learn things’, ‘want to enjoy life’ and ‘like to be in charge’ and ‘tell others what to do’, the study said.
BRICS countries — Brazil, Russia, India, China and South Africa — are ahead of developed nations like Japan and Germany on this score. “Countries with a higher entrepreneurial spirit exhibit more positive attitudes toward entrepreneurship and higher entrepreneurial potential and rates of self-employment,” the report said.
The sixth edition of the report interviewed 50,000 respondents, and India tops the list, followed by China, Thailand and Vietnam. “Russia is ranked 40th and is the only BRICS country that is ranked outside top 10. South Africa is ranked 5th while Brazil is ranked is 9th.”
The previous editions of the study did not rank people on the basis of entrepreneurial spirit.
“Entrepreneurs are shaping the global economy. We are exploring their motivation and mindset to ultimately create a more supportive world for entrepreneurs to start up, succeed and sustain their businesses,” Doug DeVos, president of Amway, said in the report.
The study also throws light on the fears and downsides: 90.3% respondents in India, for instance, mentioned ‘fear of failure’.
In terms of optimism, young is better: 81% of respondents under the age of 35 were the most optimistic, both among male and female respondents.
First Published: Apr 13, 2016 22:44 IST