60% of Indians, currently working in small or mid-sized organizations, plan to be entrepreneurs over the next 10 years, according to the ‘Future of Work’ survey, by GoDaddy. Interestingly, the proportion of those wanting to start their own business is significantly higher in India when compared to the rest of the world.
A remarkable 85% of aspiring and current entrepreneurs in India say that they are undeterred at the prospect of failure and are relentless in the pursuit of entrepreneurial success.
Survey reveals that it is advancement in technology that is giving rise to entrepreneur spirit in Indians. According to the survey, 67% of budding entrepreneurs say that recent technologies have created newer business opportunities. While, 72% of respondents believe that online channels are important to be attractive to their customers.
Other interesting revelations about Indian workforce from the survey were –
70% of respondents in India mentioned that they were either employed or working when they decided to start their own business vs. developed economies where respondents chose entrepreneurship by choice or while they were in college and completing their graduate programs
Close to half of the respondents (45%) say that work experience is most valuable, while only 12% believe education gets them ready to become an entrepreneur
79% of the surveyed workforce believe technology has made it easier to become an entrepreneur in today’s time
Around 63% of the future entrepreneurs believe in following their parents’ footsteps to start their own businesses and admire the hard work put in by their parents
- 62% want their business to internationalize and have global customers