Startup ecosystem stronger now: Survey
To understand the enthusiasm for entrepreneurship and explore the motivation and mindset that will create a more supportive environment for entrepreneurs, Amway India initiated an India Entrepreneurship report. Union Minister of State for Skill Development and Entrepreneurship (Independent Charge), Rajiv Pratap Rudy released the report recently.
At the unveiling, Rudy said, “The contribution of MSME sector (Micro, Small and medium enterprises) in India is much less as compared to the developed nations. This needs to change. It is critical that there is entrepreneurshipled boom at the grassroots level so that India can leverage the demographic dividend to the maximum possible extent.”
Anshu Budhraja, CEO, Amway India, said, “We are aiming to engage different stakeholders on what drives entrepreneurship and contribute to the ongoing discussions on the role of skill development and self-employment. Entrepreneurship is a way for people to realise a better life. Entrepreneurs also create jobs and encourage competition. They spur economic growth and bring opportunities to communities. So, it’s important that businesses like Amway know how entrepreneurs think and act to better support them.”
Research partner Nielsen India surveyed 250 households in 21 states across 50 cities. One male and one female in the 21-65 age group were interviewed, taking the total number of respondents to more than 10,700 individuals . These were the findings of the report:
* 2/3rds view entrepreneurship positively: The report shows tangible enthusiasm for entrepreneurship as being a good prospect to earn a livelihood, with nearly two-thirds viewing it favourably. Access to finance (41 per cent) and family support (35 percent) emerged as the most important factors to start one’s own business. Interestingly, 62 per cent thought that their education was sufficient to start a business on their own