At a time when fears are doing the rounds about the economic condition of the country, findings of a latest survey have indicated that an astounding 82 per cent of the respondents between 18 -30 years are likely to start their own business. Global talent investor Entrepreneur First (EF) has released the Ambition Research report that determines the response of the ‘most talented 18-30-year-olds’ to questions regarding their ambition, aspirations and factors limiting the country’s young minds from achieving their potential.
EF said it had identified the importance of encouraging ambition among society’s brightest minds as a path to creating a culture of high-end entrepreneurialism. In India, it said, 82 per cent of those interviewed mentioned setting up their own businesses was a way to achieve their ambition. However, over 52 per cent of the youth believe they are experiencing or are worried about a ‘Quarter – Life Career Crisis’, where they feel a growing sense of disillusionment with their current career trajectory and a desire to do something beyond the realms of corporate convention.
In the Indian context, the research has thrown up some interesting data. While 82 per cent of the young respondents wish to set up a company, only about 28 percent amongst them are certain that they will become entrepreneurs. The rest of them are discouraged by factors such as financial insecurity, fear of failure, societal pressures and so on. Now, those concerned should encourage talented individuals to choose entrepreneurship as a primary career option by supporting, guiding and funding their dreams. Also, youngsters should make use of available government schemes, loans, incubators and angel investors to realise their business dreams.