Bengaluru,
India, December 1, 2017- In an effort to map different aspects of
entrepreneurship among youth in India, Amway India, the country’s leading
direct selling FMCG company, today, released the Amway India Entrepreneurship
Report (AIER) 2017. The report was launched by Mr. Doug DeVos, President, Amway
at the Global Entrepreneurship Summit (GES) 2017 held in Hyderabad. AIER is an
annual report compiled by Amway since 2014, that promotes and facilitates
entrepreneurship in the country & globally.
India, December 1, 2017- In an effort to map different aspects of
entrepreneurship among youth in India, Amway India, the country’s leading
direct selling FMCG company, today, released the Amway India Entrepreneurship
Report (AIER) 2017. The report was launched by Mr. Doug DeVos, President, Amway
at the Global Entrepreneurship Summit (GES) 2017 held in Hyderabad. AIER is an
annual report compiled by Amway since 2014, that promotes and facilitates
entrepreneurship in the country & globally.
AIER findings
are from a study conducted by Nielsen for Amway India under which they surveyed
10,809 final year undergraduate students including 6269 male and 4540 female
students covering 28 cities, 28 small towns and students hailing from rural
arears across 21 States of India in 2016. The report focuses on scrutinizing
and understanding the student community’s attitude towards Entrepreneurship in
India. From AIER 2017, it was derived that over 60 percent students in the
country consider entrepreneurship as a good prospect for earning a livelihood.
are from a study conducted by Nielsen for Amway India under which they surveyed
10,809 final year undergraduate students including 6269 male and 4540 female
students covering 28 cities, 28 small towns and students hailing from rural
arears across 21 States of India in 2016. The report focuses on scrutinizing
and understanding the student community’s attitude towards Entrepreneurship in
India. From AIER 2017, it was derived that over 60 percent students in the
country consider entrepreneurship as a good prospect for earning a livelihood.
Unveiling the
report, Mr. Doug DeVos, President, Amway said, “India is well positioned for an
entrepreneurial transformation. The country is already a top 10 global market
for us and we’re excited to be part of its future growth. Amway was founded
nearly 60 years ago on the spirit of entrepreneurship and is committed to
creating opportunities for people who seek to be entrepreneurs.”
report, Mr. Doug DeVos, President, Amway said, “India is well positioned for an
entrepreneurial transformation. The country is already a top 10 global market
for us and we’re excited to be part of its future growth. Amway was founded
nearly 60 years ago on the spirit of entrepreneurship and is committed to
creating opportunities for people who seek to be entrepreneurs.”
Speaking on
the entrepreneurial opportunities Amway offers for the youth in India, Mr.
Samir Behl, Regional President, Europe, Africa & India, Amway said,
“Millennials are quickly becoming the biggest demographic segment in the
workforce. Their strong networks, collaborative culture and deep desire to
learn to make them a perfect fit to take-up entrepreneurship as a career by
choice.”
the entrepreneurial opportunities Amway offers for the youth in India, Mr.
Samir Behl, Regional President, Europe, Africa & India, Amway said,
“Millennials are quickly becoming the biggest demographic segment in the
workforce. Their strong networks, collaborative culture and deep desire to
learn to make them a perfect fit to take-up entrepreneurship as a career by
choice.”
AIER 2017
chronicles the perception of students in four distinct areas namely –
Perception on entrepreneurship, Entrepreneurship as a career choice,
Entrepreneurial environment & Entrepreneurial education.
chronicles the perception of students in four distinct areas namely –
Perception on entrepreneurship, Entrepreneurship as a career choice,
Entrepreneurial environment & Entrepreneurial education.
Two-Thirds of
Indians view entrepreneurship positively
Indians view entrepreneurship positively
India
continues to be a land of opportunities offering excellent scope for those who
want to turn entrepreneurs. AIER 2017 reflects that 61% of students consider
entrepreneurship as being a good prospect to earn a livelihood in India.
Students from rural areas show greater willingness to start their own business
over students from urban areas. Among the 28 states, students Himachal Pradesh,
Haryana, Gujarat, Assam, Delhi and Tamil Nadu can see themselves starting their
own business.
continues to be a land of opportunities offering excellent scope for those who
want to turn entrepreneurs. AIER 2017 reflects that 61% of students consider
entrepreneurship as being a good prospect to earn a livelihood in India.
Students from rural areas show greater willingness to start their own business
over students from urban areas. Among the 28 states, students Himachal Pradesh,
Haryana, Gujarat, Assam, Delhi and Tamil Nadu can see themselves starting their
own business.
Student
respondents rated good education (44%), financial security (33%) and
social/family network (30%) as the top 3 crucial mantras for entrepreneurial
success. The perception of ‘riskiness’ of entrepreneurship was reflected in one-third
of the respondents rating ‘financially secure family background’ as a most
important determinant of success.
respondents rated good education (44%), financial security (33%) and
social/family network (30%) as the top 3 crucial mantras for entrepreneurial
success. The perception of ‘riskiness’ of entrepreneurship was reflected in one-third
of the respondents rating ‘financially secure family background’ as a most
important determinant of success.
Over 60% of
students have considered entrepreneurship
students have considered entrepreneurship
There is a lot
of hope for enterprise in this country. Notably, the entrepreneurship
receptiveness was significantly higher among students from higher-income
strata. Openness to start businesses was the highest in Madhya Pradesh (47%),
followed by Gujarat (45%), Bihar (24%), Himachal Pradesh (23%) and Haryana
(21%). However, ‘the fear of failure’ was found to be the major obstacle in
starting a business among 71% of the students.
of hope for enterprise in this country. Notably, the entrepreneurship
receptiveness was significantly higher among students from higher-income
strata. Openness to start businesses was the highest in Madhya Pradesh (47%),
followed by Gujarat (45%), Bihar (24%), Himachal Pradesh (23%) and Haryana
(21%). However, ‘the fear of failure’ was found to be the major obstacle in
starting a business among 71% of the students.
Students seek
government & social support for starting their own business
government & social support for starting their own business
61% of
nationwide respondents were hopeful of receiving support from government
schemes if they were to start their own businesses. The trust placed on the
effectiveness of government schemes was particularly high in Madhya Pradesh
(91%), Gujarat (82%) and Punjab (81%).
nationwide respondents were hopeful of receiving support from government
schemes if they were to start their own businesses. The trust placed on the
effectiveness of government schemes was particularly high in Madhya Pradesh
(91%), Gujarat (82%) and Punjab (81%).
81% of
nationwide respondents’ state that they will depend on their household members
for support while starting new ventures. The faith in the family support system
was particularly strong in Jharkhand (97%), Gujarat (96%) & Punjab (96%).
nationwide respondents’ state that they will depend on their household members
for support while starting new ventures. The faith in the family support system
was particularly strong in Jharkhand (97%), Gujarat (96%) & Punjab (96%).
Indian youth
desires Entrepreneurial courses to be included in the curriculum
desires Entrepreneurial courses to be included in the curriculum
A clear
majority (80%) of the respondents unequivocally state that they believe that
‘entrepreneurial skills’ can be taught and are not necessarily inherited. To
facilitate this, a majority (78%) categorically expressed a need for
substantial changes in the present education system with 75% appealing for
entrepreneurial courses in the curriculum.
majority (80%) of the respondents unequivocally state that they believe that
‘entrepreneurial skills’ can be taught and are not necessarily inherited. To
facilitate this, a majority (78%) categorically expressed a need for
substantial changes in the present education system with 75% appealing for
entrepreneurial courses in the curriculum.
Thus, to grasp
and retain student interest in entrepreneurial education, which, in turn, will
help make entrepreneurial education more effective, educators need to focus on
more out-of-the-box techniques that are in touch with the reality of the
everyday world of an entrepreneur and does not simply rely on theoretical
pedagogy.
and retain student interest in entrepreneurial education, which, in turn, will
help make entrepreneurial education more effective, educators need to focus on
more out-of-the-box techniques that are in touch with the reality of the
everyday world of an entrepreneur and does not simply rely on theoretical
pedagogy.
