60pc Indian professionals plan to be entrepreneurs in next 10yrs

NEW DELHI, INDIA: Around 60 percent of Indian who are currently working in small or mid-sized organizations plan to be entrepreneurs over the next 10 years, reveals GoDaddy's ‘Future of Work’ survey- a global study that delves into entrepreneurial intent, attitudes and outlook when considering starting or running a small business.

Interestingly, the proportion of those wanting to start their own business is significantly higher in India when compared to Australia, Brazil, Canada, China, Hong Kong, Turkey, Singapore, the United States and United Kingdom.

A remarkable 85 percent 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.

Andrew Low Ah Kee, Executive Vice President, GoDaddy International, said, “Entrepreneurial passion coupled with access to technology, is helping entrepreneurs realize their dreams today.”

Around 67 percent of budding entrepreneurs say that recent technologies have created newer business opportunities and 72 percent of respondents believe that online channels are important to be attractive to their customers.

Other highlights from the study:

The Future of Work Survey polled Millennials (new to the workforce), Gen X-ers (mid-career) and Baby Boomers (exiting the workforce) to pull in insights on how the Indian workforce perceives and approaches entrepreneurship and small business ownership.

- 70 percent 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 percent) say that work experience is most valuable, while only 12% believe education gets them ready to become an entrepreneur

- 79 percent of the surveyed workforce believe technology has made it easier to become an entrepreneur in today’s time

- Around 63 percent 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 percent want their business to internationalize and have global customers