Article: Entrepreneurship: Valued career choice in India

Entrepreneurship

Entrepreneurship: Valued career choice in India

Despite the crunch that the startup environment is seeing, there are more executives who are leaving major startup companies to start their own.
Entrepreneurship: Valued career choice in India

Entrepreneurship is the buzzing career choice for most Indians. Nearly two-thirds of Indians view entrepreneurship positively, says the Amway’s India Entrepreneurship Report 2015. The report also states that entrepreneurship is valued in India and there is a tangible enthusiasm for it as a career option. Of the two-third, Kerala (78%), Punjab (77%) and Uttarakhand (76%) were the states with highest positive attitude towards entrepreneurship. Despite the crunch that the startup environment is seeing, there are more executives who are leaving major startup companies to start their own. 

While nearly half of all respondents (45%) felt that the environment to begin a business in their state has improved over the past five years. 11 percent of the respondents felt that the environment has ‘improved significantly’, according to the report. The survey’s finding comes at a time when the government has introduced flagship programmes such as “Start-up India, Stand-Up India” and “Make in India” with a goal to encouraging budding entrepreneur and home-grown innovation.

According to the survey, almost one in two respondents (47%), said that they had either thought about starting their own business or are actively pursuing one. Overall, 19% of respondents said that they are “very open to starting a new business and in fact are actively pursuing one”, states the report.  With Jharkhand, Uttarkhand and Uttar Pradesh ranking amongst the states with the highest number of actively engaged entrepreneurs. 

Unveiling the report, Union Minister of State for Skill Development and Entrepreneurship (Independent Charge), Shri Rajiv Pratap Rudy said “ “The contribution of MSME sector (Micro, Small and medium enterprises) in India, is much less as compared to some of the developed nations. This needs to change. It is critical that there is entrepreneurship led boom at the grass root level so that India can leverage the demographic dividend to the maximum possible extent. The understanding of motivations, attitudes towards entrepreneurship, offers valuable insight to the policy makers.”

The survey conducted in partnership with Nielsen India surveyed 250 households in each of the 21 states across 50 different cities. One male and one female member in the 21-65 age group were interviewed from each household taking the total no of respondents to 10,768 individuals.

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Topics: Entrepreneurship, Culture

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