New answers to old questions – survey
Analysis shows an encouraging number of young South Africans are excited about enterprise and entrepreneurship
RE ENTREPRENEURS born or made? And what drives them to start their own businesses?
These questions were posed by Amway, one of the largest direct selling companies worldwide, to compile its latest Amway Global Entrepreneurship Report. The company released its findings this week to coincide with Global Entrepreneurship Week.
Some 140 countries, including South Africa, are marking entrepreneurship week with events that educate, inspire and celebrate innovation and new business creation.
In its official statement, Amway says this year’s report reflects on the state of selfemployment around the world.
It focused on entrepreneurship education and for the first time, included South Africa as one of the 38 countries surveyed.
“For 55 years, self-employment has been the basis of the Amway Business Opportunity,” says Raj Parshotam, general manager for Amway in southern Africa.
“The Amway Global Entrepreneurship Report is a significant tool to deepen our understanding of what motivates entrepreneurs and gain greater insight.
“We believe it’s our role as the private sector to provide key opinion leaders and decision makers in politics, economy and society with a basis for measures to encourage the foundation of businesses.”
Unique in its broadness and regularity, the report fosters global discussion on entrepreneurship and raises awareness of the significant role entrepreneurs play in modern economies.
This year’s report spans a record 38 markets, with face-toface and telephone interviews
Aconducted with 43 902 men and women aged between 14 and 99. While today’s youth face the threat of an uncertain working future, the findings of the latest Amway report showed entrepreneurship enjoys a high reputation among the younger generation globally.
This means that a great number of young people can imagine starting their own business.
“The most surprising yet encouraging results of our recent study are that 77 percent of South African respondents have a positive attitude towards entrepreneurship while 71 percent of them believe that entrepreneurship can be taught,” says Parshotam.
“This entrepreneurial potential presents an opportunity for the development of South Africa’s economy.
“The government, businesses and educational institutions should continue to join efforts to reduce structural obstacles and create a sound basis for everyone willing to start their own enterprise,” he says.
Professor Boris Urban of the Graduate School of Business Administration, Wits Business School in the faculty of commerce, law and management was commissioned as the local academic partner to contribute interpretation of the local results.
According to Urban, an interesting finding is that South African respondents think entrepreneurship education should be taught at schools and secondary education establishments as well as at start-up programmes provided by companies and NGOs.
Very few (15 percent) of respondents think individuals should learn on their own when it comes to entrepreneurship education.
“Overall in South Africa entrepreneurial potential is high and there are positive attitudes towards entrepreneurial activity.
“More university graduates (65 percent) are starting their own businesses where leadership and management skills are perceived to be crucial for entrepreneurship education.
“Additionally, university graduates are more positive than respondents without a degree in terms of self-employment as well the entrepreneurship-friendliness of society,” he says.
Parshotam adds that policy makers should therefore work with education establishments to facilitate entrepreneurship education throughout the curriculum at all ages.
He says established and successful entrepreneurs can be role models for potential and new entrepreneurs.
Through mentoring programmes and business networks, Parshotam believes potential and actual entrepreneurs may obtain crucial first- hand information especially during the start-up phase.
“This year’s report points to the younger generation’s optimism and their great potential.
“We must use this key insight to continue fostering the entrepreneurial spirit and creating a culture that unleashes the capabilities of our younger people,” he says.