Entrepreneurial ambition among the workforce is highest in India, with 56% of respondents in a survey indicating that they are considering leaving current jobs to start their own business.
According to the Randstad Workmonitor survey, 83% of the Indian workforce would like to be an entrepreneur, higher than the global average of 53%. “A stable business environment, market oriented reforms like raising of FDI caps, implementation of GST, and key initiatives like Make in India and Digital India are fostering a new aspiring and ambitious Indian,” Randstad India MD & CEO Paul Dupuis said. He further said a robust SME ecosystem driven by aspiring entrepreneurs has historically seen higher growth for the formal sector, and has a knock-off effect on the evolution of other companies in the ecosystem.
The workforce in the age group of 45-54 years (37%) are hesitant to start their own business as compared to the workforce in the age group of 25-34 years (72%) and 35-44 years (61%). Around 86% of the survey respondents indicated that the ecosystem to run a startup was favourable in India and 84% said the Indian Government actively supports new startups in the country and provides a favourable entrepreneurial climate.
Regarding workplace preference, MNCs are the most favoured employers for Indian workforce as 84% respondents said they prefer to work for a multinational firm. Around 76% of the workforce from India stated that they would like to work for a startup, whereas 69% indicated that they would prefer to work for a small or medium enterprise or a privately managed company, the report added.
The Randstad Workmonitor covers 33 countries around the world. The study is conducted online among employees aged 18- 65, working a minimum of 24 hours a week in a paid job (not self-employed).
Source: Financial Express
