GRBJ Shares Amway’s Global Entrepreneurship Report

“Amway Releases ‘Global Entrepreneurship Report'” by Rachel Watson

Amway’s 2018 “Global Entrepreneurship Report” reveals age and gender gaps when it comes to attitudes toward starting a business.

Ada-based Amway’s eighth “Global Entrepreneurship Report,” published yesterday, measures the state of entrepreneurship worldwide to increase access and inclusion.

“Gaining a greater understanding of why people decide for or against owning a business and what kind of businesses are most appealing is helpful for effectively fostering a world of entrepreneurs,” said Doug DeVos, president, Amway. “More entrepreneurs mean more opportunity, more economic growth and more prosperity for everyone.”

This year’s report spans 44 countries via in-person and phone interviews conducted with nearly 49,000 men and women ages 14-99.

The 2018 findings show more U.S. respondents (57 percent) have a desire to start their own business compared to respondents in other countries (49 percent).

While the desire to become an entrepreneur in the U.S. is down slightly from the last report, published in 2016 (61 percent), Amway said there is “continued optimism” among respondents.

Amway Entrepreneurial Spirit Index

Similar to previous years, the “Global Entrepreneurship Report” features the Amway Entrepreneurial Spirit Index, or AESI. The AESI measures three dimensions that influence a person’s intention to start a business: desire, feasibility and stability against social pressure.

The average AESI for all countries slightly declined from 50 to 47. In the U.S., the AESI score was 54, down from 56 in 2016 and up from 53 in 2015.

The country with the highest AESI score was Vietnam at 84.

Key U.S. findings

This year’s report examines how age, gender and education levels impact attitudes toward entrepreneurship.

It also examines factors that help or hinder entrepreneurs: internally — such as commitment, willingness to take risks, knowledge of how to earn money — and externally — such as their country’s operating environment, technology access and education system.

Age

This year’s report confirmed the interest in starting a business falls with age. While the AESI is the same (58) for respondents younger than 35 and those between the ages of 35 and 49, it is lower (51) for respondents older than 50.

The youngest age group surveyed demonstrated the strongest desire (68 percent) to start a business.

That percentage falls to 60 percent for the middle-age group and 48 percent for the oldest group.

The question of the feasibility of becoming an entrepreneur follows a different demographic pattern with respect to age. The AESI is lowest for the youngest respondents (58 percent) and highest for the middle-age respondents (64 percent).

Education

Having a university degree was found to have minimal impact on shaping entrepreneurial spirit.

Respondents with and without university degrees exhibited a similar AESI.

Gender

Gender plays a clear role in shaping the entrepreneurial spirit of Americans, according to the report.

While 67 percent of U.S. males reported starting a business would be desirable, 47 percent of U.S. females reported the same.

Similarly, 69 percent of U.S. male respondents felt they have the requisite capabilities to become an entrepreneur, compared to 52 percent of U.S. females.

Internal vs. external factors

In looking at U.S. respondents’ abilities and attitudes regarding starting and running a business, the majority (88 percent) perceive themselves as socially supported, compared to 64 percent globally.

When it comes to taking risks, 74 percent of U.S. respondents consider themselves to be risk-takers, compared to 47 percent of respondents globally.

Respondents rated the entrepreneurial friendliness of the U.S. business environment as follows:

  • 79 percent of U.S. respondents believe their country has the technology available to make entrepreneurship easier, compared to 48 percent of respondents globally
  • 43 percent of U.S. respondents believe the education system in their country teaches the skills they need to start a business, compared to 40 percent globally
  • 57 percent of U.S. respondents believe the economic situation in their country is beneficial, compared to 36 percent globally

The report

The “Amway Global Entrepreneurship Report,” or AGER, began in 2010 as the “Amway European Entrepreneurship Report,” then was re-named and expanded worldwide in 2013.

The 2018 AGER was conducted by Amway, in partnership with Isabell M. Welpe from the Technical University of Munich, Germany.

Fieldwork was completed by the Gesellschaft fuer Konsumforschung (the Association for Consumer Research) in Nuremberg, Germany from April through June 2017.

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