Young Indian, in age group of 25-34 prefer to start their own business, a new survey by Randstand Workmonitor says.
Indians between the age of 25-34 years prefer to start on their own rather than joining a company under someone else. According to the Randstand Workmonitor survey, 56 percent of the overall survey respondents indicated that they are considering leaving their current job to start their own business.
Globally, 53 percent of individuals are looking to leave their current employer to start their own ventures. According to the survey, entrepreneurial ambition among the workforce is highest in India. This preference does not change regardless the gender.
However, it is interesting to note that workforce in the age group of 45-54 years (37 percent) are hesitant to start their own business as compared to the workforce in younger age groups of 25-34 years (72 percent) and 35-44 years (61 percent).
A vast majority of 84 percent pefers to work for a multinational company, revealed the survey. Globally, 55 percent of the total respondents have a preference for MNCs.
The survey also reveals that 67 percent respondents said if in case they lose their job, they would like to start their own company. On the contrary, 76 percent considered entrepreneurship to be really attractive, but the the risk of failure is too big for them.
“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," said Paul Dupuis, MD & CEO of Randstad India.
"One who is eager to create and nurture his/her own venture rather than join a company. This shift is clearly reflected in our survey findings and augurs well for the country’s growth agenda," he added.In terms of the approvals required, about 86 percent of the survey respondents indicated that the ecosystem to run a startup was favorable in India and 84 percent of the respondents said that the government actively supports new startups in the country and provides a favourable entrepreneurial climate.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.