Most Indians lured by 'good prospects' of entrepreneurship
PTI April 20, 2016
More and more Indians are getting attracted by "good prospects" of entrepreneurship to earn a livelihood, says a report.
States such as Kerala, Punjab and Uttarakhand were found to be with most positive attitude towards entrepreneurship, an Amway India Entrepreneurship Report 2015 said.
Access to finance followed by family support emerged as the most important factors to start own business, it added.
The report was released by Union Minister of State for Skill Development Rajiv Pratap Rudy.
It aims to understand enthusiasm for entrepreneurship in the country, as well as factors that motivate and obstruct the creation of new enterprises.
"It is critical that there is entrepreneurship led boom at the grass root level so that India can leverage demographic dividend to the maximum possible extent. The understanding of motivations, attitudes towards entrepreneurship, offers valuable insight to the policy makers," said Rudy while unveiling the report.
Amway India CEO Anshu Budhraja said: "We are aiming to engage different stakeholders on what drives entrepreneurship in India and contribute to the on-going discussions on the role of skill development and self-employment in improving employability of the youth."
The report further said: "73 per cent of the respondents believe that anyone can be trained/educated to be an entrepreneur. 62 per cent of all respondents thought that the education they had right now was sufficient to start their own business."
It further added: "Nearly half of all respondents (45 per cent) said the environment to begin a business in their state has improved over the past five years. 11 per cent of the respondents felt that the environment has improved significantly."
In the survey, 83 per cent respondents voted banks as their main port of call for starting a business.
"This insight clearly point to the role of financial institutions in fostering and facilitating entrepreneurship.
Friends and family came second on this index with 78 per cent," it added.