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Amway releases Global Entrepreneurship Report

November 24, 2014
TAGS Amway
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Amway employees treated after disinfectant leak
Amway’s global headquarters is in Ada. Courtesy Amway

Amway has released its Global Entrepreneurship Report — which examines whether entrepreneurs are born or made and what drives someone to launch a business.

Amway conducted the report in partnership with Isabell Welpe, the chair of strategy and organization at the School of Management at TUM in Munich, Germany.

Fieldwork was completed by the market research company Gesellschaft fuer Konsumforschung, or GFK, in Nuremberg, Germany from April through July 2014.

Views on entrepreneurship

Amway said last week that there are several key findings in this year’s report: the prevalent opinion that entrepreneurs can be made; a firm belief in the importance of education; the correlation between a positive attitude towards entrepreneurship and the ability to imagine oneself becoming an entrepreneur; and a greater positivity toward entrepreneurship from younger respondents.

According to the report, sixty-three percent of survey respondents “believe entrepreneurship can be taught.” Respondents 35 or younger believe most strongly that entrepreneurship can be taught, with 70 percent in agreement.

In line with the belief that entrepreneurship can be taught is a strong belief in the importance of an education in business skills. Forty-two percent of respondents described the “most-crucial aspect of entrepreneurship education as basic business skills.”

The next most-crucial aspects are “leadership and management skills” and “entrepreneurship in practice,” at 37 percent each.

Places where entrepreneurship is viewed positively are also the places where people are more likely to imagine starting a business.

The survey also found the key reasons why someone would want to start a business to be “independence from an employer, being my own boss" (46 percent) and "self-fulfillment, possibility to realize own ideas” (43 percent).

“Growing economies”

Amway hopes the study’s findings will foster global discussion on entrepreneurship and raise awareness of the role entrepreneurs play in modern economies.

"Entrepreneurs play an important role in growing economies," said Steve Van Andel, chairman, Amway. "They create jobs, encourage competition and help communities grow and flourish.”

Van Andel noted that the business environment has evolved and with it “the reasons people decide to venture out on their own.”

Van Andel said Amway hopes the report “leads to a deeper understanding of what can be done to encourage and better prepare more people around the world to start businesses of their own.”

Welpe added that “promoting entrepreneurship supports the development of national economies.”

“Entrepreneurs advance ideas that enrich our society and our lives,” Welpe said. “Policymakers should seize this chance by initiating entrepreneurship education targeted at younger generations."

Global study

Amway released its first Global Entrepreneurship Report in 2010.

The inaugural survey was focused on the European market. In 2013, the survey was expanded worldwide, encompassing 24 countries.

This year's report spans a record 38 markets, with face to face and telephone interviews conducted with 43,902 men and women ages 14-99.

Amway said the survey’s results are shared with the academic community, including the report’s 38 academic advisors and all interested think tanks and academic and public institutions. 

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