Three In Ten People Started Business At some Point 

Low Wages Leads to Memory Loss

Did you start a business recently? If so then you are one among the majority who attempted a business at some point. A new study showed that three in ten people ( 31 per cent) have started business at some point of time and about 29 per cent hope to do so in the near future. The IPSOS in its latest survey claimed this.

COUNTRY WISE

In the poll, IPSOS found highest proportion of people saying they have started a business in the past in Peru (54 per cent), Colombia (54 per cent) and Mexico (53 per cent). The lowest rates of entrepreneurship was found in South Korea (18%), France (16%), Belgium (14%) and Japan (9%).

Colombia (58%), Mexico (55%) and South Africa (54%) have the highest proportion of adults saying they are likely to start a business in the future, while Sweden (13%), Belgium (13%, the Netherlands (11%) and Japan (8%) have the lowest rates of people planning on starting a business.  

These are the findings of a 28-country Ipsos survey conducted May 27-June 7, 2022, among 21,515 adults aged 18-74 in the United States, Canada, Malaysia, South Africa and Turkey, and among people ages 16-74 in 23 other countries, via Ipsos’ Global Advisor online survey platform.

GOVERNMENT SUPPORT

On the support for business establishments, the IPSOS said that 56 per cent said that governments were doing a good job in supporting businesses.  However, the survey found that private sector and banks do not fair any better. Only a minority say that the private sector (31%) and banks (31%) are doing a good job fostering entrepreneurialism in their countries.  

NON-TRADITIONAL GROUPS BECOMING ACTIVE

The IPSOS survey found that people who identify as women (+5%), Gen Z/Millennial (+18%) and lower income (+7%) have increased most since 2018 in reporting that they have started a business. The biggest increase in entrepreneurial aspirations since 2018 is among women, Gen Z/Millennials, those with lower education, and people of lower and middle income.  

KEY BARRIERS ARE TO STARTING A BUSINESS

Funding is the biggest hurdle (41%).  Lack of interest (19%) and the condition of the economy (19%) rank well back tied in second place, while lack of knowledge (17%) is close behind.

SOCIAL ENTREPRENEURIALISM

Social entrepreneurialism tends to be a more recent phenomenon than business entrepreneurialism, with a greater proportion of those creating an interest group doing so in the past 2 years (76% vs. 52% who started their business in the past 2 years). 

WOMEN

Just fewer than 2 in 5 global citizens (37%) believe that women are treated fairly when they try to start a business. This varies widely by country with a majority in Saudi Arabia (72%), China (67%), India (60%) and Malaysia (55%) believing women are treated fairly. This belief is lowest in Italy (26%), France (26%), Brazil (25%), South Korea (24%) and Japan (14%).

LEAVE A REPLY

Please enter your comment!
Please enter your name here