GoDaddy, technology provider dedicated to small businesses, released its ‘Future of Work’ survey, a global study that delves into entrepreneurial intent, attitudes and outlook when considering starting or running a small business.
60% of the approximately 1,200 respondents in India, currently working in small or mid-sized organizations; plan to be entrepreneurs over the next 10 years. 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% 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 VP, GoDaddy International, said, “Entrepreneurial passion coupled with access to technology, is helping entrepreneurs realize their dreams today.”
He further added, “The emerging and newer generation of India’s entrepreneurs are embracing technology like never before. 67% of budding entrepreneurs say that recent technologies have created newer business opportunities and 72% of respondents believe that online channels are important to be attractive to their customers. GoDaddy is committed to helping small businesses in India succeed with the right online technology to help grow their business.”
The Future of Work Survey:
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% 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
- Experience triumphs education when it comes to gaining the right skills to be an entrepreneur. 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