Five Key Findings in Amway’s Global Entrepreneurship Report
This week, Amway launched a global report on entrepreneurship in celebration of Global Entrepreneurship Week. This report surveyed 50,861 women and men aged 14-99 in 45 different countries with the purpose to get an understanding of the entrepreneurial ecosystem globally and within each of the participating countries.
Positive attitude and entrepreneurial potential remain high globally
When respondents were asked how they see entrepreneurship and if they could imagine starting a business themselves, 77% of them had a positive attitude. More specifically, 88% of Canadian respondents had a positive attitude towards entrepreneurship. This tells us that Canada is doing a great job to inspire the next generation of entrepreneurs, showing them that entrepreneurship is a viable career option.
Respondents think that self-employment will be more likely in the future
When surveyed, respondents were asked what they thought of the development of self-employment in the next five years within their country. In Canada, 45% of respondents stated that they felt self-employment would be more likely in the future as opposed to today.
Independence and self-fulfillment are the most appealing aspects to start a business
Participants were asked what aspects of entrepreneurship appealed to them the most as reasons to start their own business. The results showed that independence from an employer and being their own boss ranked high (85% in Canada), as well as self-fulfillment and the possibility to realize their own ideas (85% in Canada). This shows us that traditional forms of employment aren’t providing people with the fulfillment and independence that they are looking for.
Respondents around the globe are comfortable with searching and acquiring customers
With 56% of respondents globally (62% in Canada) stating they would feel comfortable searching for and acquiring customers, this tells us that self-employed or not, respondents felt equipped with the skills to be successful attracting business. This data shows us that Canada is doing a good job at educating future entrepreneurs with the skills they need to be successful but there is room for improvement.
Canadians feel confident in the skills they possess when it comes to starting a business
Respondents were asked to think of themselves and state whether they agree with statements around whether they consider starting a business a desirable career option, if they feel they possess the necessary skills and resources to start a business and if their loved ones could never dissuade them from starting a business. In terms of entrepreneurship being a desirable career option, 50% of Canadians agreed, 56% felt they possessed the skills they needed to become an entrepreneur and 46% thought their loved ones could never stop them from pursuing entrepreneurship.
Amway’s report gave us a better understanding of the entrepreneurial ecosystem in Canada and areas of improvement to help more citizens feel entrepreneurship is a viable and potential career option.
To read the full report, click here.