Indian entrepreneurs are highly optimistic about the future of India and opportunities for entrepreneurship. Over half believe India will be the most important global economic power in 20 years, and 86% think India will be a stronger global power than now within 5 years. Entrepreneurs also believe that hard work leads to financial success (78%) and see India as a good place to succeed (84%). However, younger entrepreneurs aged 18-34 are less optimistic about India's direction than older entrepreneurs. While optimism is high, concerns about corruption are also significant, with over 90% seeing it as a problem and 80% believing it is getting worse.
The document describes an entrepreneurship program called Afterschoool that aims to develop social entrepreneurs. The program offers a 3-year and 18-month course in social entrepreneurship that can be taken fully online or in a blended format. It covers topics like business planning, research projects, workshops on leadership and more. The pedagogy is based on top B-schools and includes case studies, group projects, and visits to entrepreneurs. The goal is to promote entrepreneurship and social development.
probability ,and its terminologies full descriptionAMRITGUPTA2345
This document presents information on probability and its uses. It defines probability as the chances of an event occurring from a sample space. Probability is expressed as a number from 0 to 1, with 0 meaning an event will not occur and 1 meaning it will definitely occur. The document discusses types of probability such as mathematical, statistical, and subjective probabilities. It also defines key probability terminology like sample space, outcomes, events, and complementary events. Finally, it discusses how probability is useful for business decision making, risk evaluation, and predicting demand and markets.
Do you have what it takes to become an entrepreneur? Check out our quiz. It's just for fun, but we're sure you'll learn a few facts about the characteristics needed to start your own business.
This document provides an entrepreneurship quiz that discusses several famous historical figures and entrepreneurs. It then discusses common traits among successful entrepreneurs like having a vision, experimenting, and not being deterred by setbacks. The document also summarizes the entrepreneurship process, rewards of being an entrepreneur like independence and potential financial rewards, and challenges like risk and uncertainty. Key entrepreneurs discussed include Bill Gates, Walt Disney, and others.
The document appears to be a quiz containing multiple choice or fill-in-the-blank style questions across various topics including current affairs, brands and logos, and business. It includes questions about inflation rates, salary cuts at Jet Airways, Arvind Adiga's Booker Prize winning book, the ranking of Jaipur in BPO industry, the hospital Amitabh Bachchan was initially admitted to, the winner of the 2008 Nobel Prize in Economics, and more.
Entrepreneurship short question and answerShyam Raj
1. A business plan outlines business goals, reasons for attainability, and plans for reaching goals. It provides background on the organization attempting to reach goals.
2. An opportunity analysis reviews prospects for a product in a potential market. For example, analyzing demand conditions to help decide launching a product.
3. A market survey collects information on business aspects like minimizing risks. It is an important requirement for any successful business.
The document describes an entrepreneurship program called Afterschoool that aims to develop social entrepreneurs. The program offers a 3-year and 18-month course in social entrepreneurship that can be taken fully online or in a blended format. It covers topics like business planning, research projects, workshops on leadership and more. The pedagogy is based on top B-schools and includes case studies, group projects, and visits to entrepreneurs. The goal is to promote entrepreneurship and social development.
probability ,and its terminologies full descriptionAMRITGUPTA2345
This document presents information on probability and its uses. It defines probability as the chances of an event occurring from a sample space. Probability is expressed as a number from 0 to 1, with 0 meaning an event will not occur and 1 meaning it will definitely occur. The document discusses types of probability such as mathematical, statistical, and subjective probabilities. It also defines key probability terminology like sample space, outcomes, events, and complementary events. Finally, it discusses how probability is useful for business decision making, risk evaluation, and predicting demand and markets.
Do you have what it takes to become an entrepreneur? Check out our quiz. It's just for fun, but we're sure you'll learn a few facts about the characteristics needed to start your own business.
This document provides an entrepreneurship quiz that discusses several famous historical figures and entrepreneurs. It then discusses common traits among successful entrepreneurs like having a vision, experimenting, and not being deterred by setbacks. The document also summarizes the entrepreneurship process, rewards of being an entrepreneur like independence and potential financial rewards, and challenges like risk and uncertainty. Key entrepreneurs discussed include Bill Gates, Walt Disney, and others.
The document appears to be a quiz containing multiple choice or fill-in-the-blank style questions across various topics including current affairs, brands and logos, and business. It includes questions about inflation rates, salary cuts at Jet Airways, Arvind Adiga's Booker Prize winning book, the ranking of Jaipur in BPO industry, the hospital Amitabh Bachchan was initially admitted to, the winner of the 2008 Nobel Prize in Economics, and more.
Entrepreneurship short question and answerShyam Raj
1. A business plan outlines business goals, reasons for attainability, and plans for reaching goals. It provides background on the organization attempting to reach goals.
2. An opportunity analysis reviews prospects for a product in a potential market. For example, analyzing demand conditions to help decide launching a product.
3. A market survey collects information on business aspects like minimizing risks. It is an important requirement for any successful business.
Haygroup Help Wanted: Averting The Talent Famine Oct2012Nidthia C
Will 2025 be a feast or famine for companies in Indonesia?
That will depend on the kinds of talent management strategies that they implement now.
Find out more about the risks and challenges of business sustainability in Indonesia.
The document summarizes recent research from the OECD Development Centre, including their flagship publications on shifting global wealth and relative poverty rates. It discusses China's growing economic influence as its share of global GDP and the world's economic center of gravity shift eastward. Research shows China has diversified its exports and become a dominant supplier in global supply chains. Business cycles in China are increasingly synchronized with ASEAN countries. The document also analyzes gender inequality in China using the Social Institutions and Gender Index. Possible areas of collaboration with the Development Research Centre of China are mentioned.
The monthly business letter from MIB discusses the success of Mi'bytes, a student initiative at MIB that allows for the sharing of information. The editor hopes this will earn the students dividends of knowledge and enrich readers. He wishes the students success in their efforts contributing to the business letter.
The document also provides summaries on topics such as the end of the Hero Honda partnership, the success of Indigo Airlines, India's role in helping world economies recover from recession, corporate social responsibility and personal philanthropy, emerging video technologies beyond 3G, and economic indicators from 2010.
The urban population in India has grown rapidly from 285 million in 2001 to over 400 million currently, and is projected to reach 700 million by 2020. To cope with this urban growth and infrastructure demands, the Indian government is launching a $40 billion second phase of its urban renewal plan. This plan will support infrastructure development over the next 5 years in India's towns and cities. Ensuring adequate infrastructure is a challenge given the fast pace of urbanization, which has exceeded the growth of infrastructure. Public-private partnerships will be important for implementing large infrastructure projects under the new plan.
China digital media scene by the end of 2012nana lin
1) The digital media document discusses trends in the global and Chinese digital media and advertising markets.
2) It notes that while internet advertising spending is growing steadily, it still has significant room for growth compared to time spent on digital media.
3) In China specifically, the document outlines trends showing growing digital media usage and buying power among Chinese consumers, despite some economic challenges. It also describes how internet advertising is filling in as traditional media advertising declines.
The document provides an overview of the Indus Valley startup ecosystem in India. It introduces the term "Indus Valley" as a catch-all name for the Indian startup sector spread across various cities. The report highlights that India's startup sector has evolved through distinct phases of technology adoption and customer evolution. It notes that Indus Valley is emerging as a new engine of job and wealth creation, on par with the role previously played by the IT sector. The report also examines the impact of sectors like e-commerce, fintech, and SaaS on India and how they have transformed how Indians shop, pay and do business.
Why india is hot, hot, hot - the development of the digital ecosystem - India...Peter Kabel
India is developing to one of the most dynamic digital ecosystems. Already today numbers are impressive - and it is just the beginning. Smart phones and e-commerce are among the driving forces.
Vibrant Gujarat Summit Profile on Financial services Opportunity in GujaratVibrant Gujarat
1. Growing importance of emerging markets like Asia and Africa
2. IT Platform sharing: Immediate access to information and integration along product lines and geography are a must for future success
3. E‐ Banking: With increasing penetration of the internet services and increasing number of people with cell phones; an expected 10‐20 percent year over year growth, personal and business banking transactions will be conducted phones more and more
4. Mobile Money: The increase of mobile phone usage in emerging markets makes mobile money a safe, low cost initiative for the financial sector. Customer questions and concerns should be addressed more quickly. This will result in improved service delivery and greater customer.
Unleash the Power of Project Management for a Better TomorrowVSR *
V. Srinivasa Rao discusses his vision for building "A Better Tomorrow" in India through large-scale national projects and the power of project management. He outlines several challenges currently facing project success in India. His proposed solutions center around creating "Next Generation Communities" to prioritize, align and group projects, and ensure stakeholder involvement. He also advocates for an "Execution Excellence" culture to realize the ambitious goal of transforming India by 2020 through the successful completion of thousands of projects across 12 identified areas.
This document discusses Vietnam's shifting consumer landscape. It summarizes recent economic indicators showing GDP and export growth in Vietnam. It also discusses Vietnam's young and growing population, and how wealth is shifting in the country. Over the next decade, millions of new young consumers will enter the market, and Vietnam's population is aging and becoming wealthier overall. This changing demographic is creating a more mature and savvy consumer base in Vietnam.
Ground Zero 4.0 | Scaling Up - Event ReportRedSeer
Executive Summary
The report is compiled of all the topics that were discussed at Ground Zero 4.0 and has been
segregated based on RedSeer’s research and panel inputs.
Key Findings:
1. Digital India
2. Retail
3. D2C
4. Education
5. Healthcare
6. Grocery
7. Etailing
The document discusses strategies for engaging Chinese consumers through social media and a strong online presence. It notes that China has over 450 million internet users, many of whom are active on social media. Popular Chinese social platforms include QZone, RenRen, Kaixin001 and Sina Weibo. The document recommends companies understand Chinese user preferences through research, identify local social media experts for content creation, and consider machine versus human translation to engage the large Chinese online audience.
Social Recruiting for IT Consulting Made Simple | by Bullhorn Reach Evangelis...Steven Duque
WATCH THE RECORDED WEBINAR TO HEAR THE TALKING POINTS HERE: https://www1.gotomeeting.com/register/708185208
Maybe you’re looking for better ways to target good java developers, infrastructure architects or other candidates with specialized skill sets. Or, perhaps you’re trying to convey your consultancy’s unique workplace culture to set yourself apart from the competition.
This document is the 2017 annual letter from iSPIRT Foundation, an activist think tank in India. It discusses how iSPIRT works to strengthen the Indian technology ecosystem to support entrepreneurs and help lift India out of poverty over the next 20 years. Key points made include:
- iSPIRT is working to develop public technology platforms in India like India Stack to promote innovation and prevent "digital colonization" by foreign companies.
- These platforms will support a wave of new software products that can help solve major problems in areas like financial inclusion, healthcare access, and education.
- However, Silicon Valley has a head start, so iSPIRT focuses on improving the Indian ecosystem through initiatives that help startups with
Public-Private Partnerships in Housing and Urban DevelopmentOswar Mungkasa
The document provides an overview of public-private partnerships (PPPs) in housing and urban development. It discusses the importance of PPPs, noting that they can provide cost savings, manage projects across their whole life-cycle, use output-based contracts to share risks between public and private partners. The document also outlines some key advantages of PPPs, such as delivering projects on-time and freeing up public funds. However, it also notes some potential disadvantages, such as increased costs, reduced public control over assets, and differing goals between public and private partners. Overall, the document examines both benefits and challenges of the PPP model for investment in infrastructure.
CLSA AsiaUSA Forum takeaways: USA paving way for ChinaKantar Media CIC
1) Three expert speakers presented on the global internet and media space at CLSA's AsiaUSA forum, painting optimistic views of consumer spending growth in China and the prospects of Chinese social media.
2) An Ogilvy executive said that urbanization in China will drive wealth creation and consumer spending, especially online. A Chinese social media expert characterized Sina Weibo as the dominant social platform in China and said leading indicators suggest promising monetization.
3) A Facebook expert said the company followed a path from free user aggregation to paid advertising, providing a model for Chinese social platforms to eventually monetize through fan retargeting.
Haygroup Help Wanted: Averting The Talent Famine Oct2012Nidthia C
Will 2025 be a feast or famine for companies in Indonesia?
That will depend on the kinds of talent management strategies that they implement now.
Find out more about the risks and challenges of business sustainability in Indonesia.
The document summarizes recent research from the OECD Development Centre, including their flagship publications on shifting global wealth and relative poverty rates. It discusses China's growing economic influence as its share of global GDP and the world's economic center of gravity shift eastward. Research shows China has diversified its exports and become a dominant supplier in global supply chains. Business cycles in China are increasingly synchronized with ASEAN countries. The document also analyzes gender inequality in China using the Social Institutions and Gender Index. Possible areas of collaboration with the Development Research Centre of China are mentioned.
The monthly business letter from MIB discusses the success of Mi'bytes, a student initiative at MIB that allows for the sharing of information. The editor hopes this will earn the students dividends of knowledge and enrich readers. He wishes the students success in their efforts contributing to the business letter.
The document also provides summaries on topics such as the end of the Hero Honda partnership, the success of Indigo Airlines, India's role in helping world economies recover from recession, corporate social responsibility and personal philanthropy, emerging video technologies beyond 3G, and economic indicators from 2010.
The urban population in India has grown rapidly from 285 million in 2001 to over 400 million currently, and is projected to reach 700 million by 2020. To cope with this urban growth and infrastructure demands, the Indian government is launching a $40 billion second phase of its urban renewal plan. This plan will support infrastructure development over the next 5 years in India's towns and cities. Ensuring adequate infrastructure is a challenge given the fast pace of urbanization, which has exceeded the growth of infrastructure. Public-private partnerships will be important for implementing large infrastructure projects under the new plan.
China digital media scene by the end of 2012nana lin
1) The digital media document discusses trends in the global and Chinese digital media and advertising markets.
2) It notes that while internet advertising spending is growing steadily, it still has significant room for growth compared to time spent on digital media.
3) In China specifically, the document outlines trends showing growing digital media usage and buying power among Chinese consumers, despite some economic challenges. It also describes how internet advertising is filling in as traditional media advertising declines.
The document provides an overview of the Indus Valley startup ecosystem in India. It introduces the term "Indus Valley" as a catch-all name for the Indian startup sector spread across various cities. The report highlights that India's startup sector has evolved through distinct phases of technology adoption and customer evolution. It notes that Indus Valley is emerging as a new engine of job and wealth creation, on par with the role previously played by the IT sector. The report also examines the impact of sectors like e-commerce, fintech, and SaaS on India and how they have transformed how Indians shop, pay and do business.
Why india is hot, hot, hot - the development of the digital ecosystem - India...Peter Kabel
India is developing to one of the most dynamic digital ecosystems. Already today numbers are impressive - and it is just the beginning. Smart phones and e-commerce are among the driving forces.
Vibrant Gujarat Summit Profile on Financial services Opportunity in GujaratVibrant Gujarat
1. Growing importance of emerging markets like Asia and Africa
2. IT Platform sharing: Immediate access to information and integration along product lines and geography are a must for future success
3. E‐ Banking: With increasing penetration of the internet services and increasing number of people with cell phones; an expected 10‐20 percent year over year growth, personal and business banking transactions will be conducted phones more and more
4. Mobile Money: The increase of mobile phone usage in emerging markets makes mobile money a safe, low cost initiative for the financial sector. Customer questions and concerns should be addressed more quickly. This will result in improved service delivery and greater customer.
Unleash the Power of Project Management for a Better TomorrowVSR *
V. Srinivasa Rao discusses his vision for building "A Better Tomorrow" in India through large-scale national projects and the power of project management. He outlines several challenges currently facing project success in India. His proposed solutions center around creating "Next Generation Communities" to prioritize, align and group projects, and ensure stakeholder involvement. He also advocates for an "Execution Excellence" culture to realize the ambitious goal of transforming India by 2020 through the successful completion of thousands of projects across 12 identified areas.
This document discusses Vietnam's shifting consumer landscape. It summarizes recent economic indicators showing GDP and export growth in Vietnam. It also discusses Vietnam's young and growing population, and how wealth is shifting in the country. Over the next decade, millions of new young consumers will enter the market, and Vietnam's population is aging and becoming wealthier overall. This changing demographic is creating a more mature and savvy consumer base in Vietnam.
Ground Zero 4.0 | Scaling Up - Event ReportRedSeer
Executive Summary
The report is compiled of all the topics that were discussed at Ground Zero 4.0 and has been
segregated based on RedSeer’s research and panel inputs.
Key Findings:
1. Digital India
2. Retail
3. D2C
4. Education
5. Healthcare
6. Grocery
7. Etailing
The document discusses strategies for engaging Chinese consumers through social media and a strong online presence. It notes that China has over 450 million internet users, many of whom are active on social media. Popular Chinese social platforms include QZone, RenRen, Kaixin001 and Sina Weibo. The document recommends companies understand Chinese user preferences through research, identify local social media experts for content creation, and consider machine versus human translation to engage the large Chinese online audience.
Social Recruiting for IT Consulting Made Simple | by Bullhorn Reach Evangelis...Steven Duque
WATCH THE RECORDED WEBINAR TO HEAR THE TALKING POINTS HERE: https://www1.gotomeeting.com/register/708185208
Maybe you’re looking for better ways to target good java developers, infrastructure architects or other candidates with specialized skill sets. Or, perhaps you’re trying to convey your consultancy’s unique workplace culture to set yourself apart from the competition.
This document is the 2017 annual letter from iSPIRT Foundation, an activist think tank in India. It discusses how iSPIRT works to strengthen the Indian technology ecosystem to support entrepreneurs and help lift India out of poverty over the next 20 years. Key points made include:
- iSPIRT is working to develop public technology platforms in India like India Stack to promote innovation and prevent "digital colonization" by foreign companies.
- These platforms will support a wave of new software products that can help solve major problems in areas like financial inclusion, healthcare access, and education.
- However, Silicon Valley has a head start, so iSPIRT focuses on improving the Indian ecosystem through initiatives that help startups with
Public-Private Partnerships in Housing and Urban DevelopmentOswar Mungkasa
The document provides an overview of public-private partnerships (PPPs) in housing and urban development. It discusses the importance of PPPs, noting that they can provide cost savings, manage projects across their whole life-cycle, use output-based contracts to share risks between public and private partners. The document also outlines some key advantages of PPPs, such as delivering projects on-time and freeing up public funds. However, it also notes some potential disadvantages, such as increased costs, reduced public control over assets, and differing goals between public and private partners. Overall, the document examines both benefits and challenges of the PPP model for investment in infrastructure.
CLSA AsiaUSA Forum takeaways: USA paving way for ChinaKantar Media CIC
1) Three expert speakers presented on the global internet and media space at CLSA's AsiaUSA forum, painting optimistic views of consumer spending growth in China and the prospects of Chinese social media.
2) An Ogilvy executive said that urbanization in China will drive wealth creation and consumer spending, especially online. A Chinese social media expert characterized Sina Weibo as the dominant social platform in China and said leading indicators suggest promising monetization.
3) A Facebook expert said the company followed a path from free user aggregation to paid advertising, providing a model for Chinese social platforms to eventually monetize through fan retargeting.
A Visual Guide to 1 Samuel | A Tale of Two HeartsSteve Thomason
These slides walk through the story of 1 Samuel. Samuel is the last judge of Israel. The people reject God and want a king. Saul is anointed as the first king, but he is not a good king. David, the shepherd boy is anointed and Saul is envious of him. David shows honor while Saul continues to self destruct.
🔥🔥🔥🔥🔥🔥🔥🔥🔥
إضغ بين إيديكم من أقوى الملازم التي صممتها
ملزمة تشريح الجهاز الهيكلي (نظري 3)
💀💀💀💀💀💀💀💀💀💀
تتميز هذهِ الملزمة بعِدة مُميزات :
1- مُترجمة ترجمة تُناسب جميع المستويات
2- تحتوي على 78 رسم توضيحي لكل كلمة موجودة بالملزمة (لكل كلمة !!!!)
#فهم_ماكو_درخ
3- دقة الكتابة والصور عالية جداً جداً جداً
4- هُنالك بعض المعلومات تم توضيحها بشكل تفصيلي جداً (تُعتبر لدى الطالب أو الطالبة بإنها معلومات مُبهمة ومع ذلك تم توضيح هذهِ المعلومات المُبهمة بشكل تفصيلي جداً
5- الملزمة تشرح نفسها ب نفسها بس تكلك تعال اقراني
6- تحتوي الملزمة في اول سلايد على خارطة تتضمن جميع تفرُعات معلومات الجهاز الهيكلي المذكورة في هذهِ الملزمة
واخيراً هذهِ الملزمة حلالٌ عليكم وإتمنى منكم إن تدعولي بالخير والصحة والعافية فقط
كل التوفيق زملائي وزميلاتي ، زميلكم محمد الذهبي 💊💊
🔥🔥🔥🔥🔥🔥🔥🔥🔥
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
This presentation was provided by Rebecca Benner, Ph.D., of the American Society of Anesthesiologists, for the second session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session Two: 'Expanding Pathways to Publishing Careers,' was held June 13, 2024.
Gender and Mental Health - Counselling and Family Therapy Applications and In...PsychoTech Services
A proprietary approach developed by bringing together the best of learning theories from Psychology, design principles from the world of visualization, and pedagogical methods from over a decade of training experience, that enables you to: Learn better, faster!
This presentation was provided by Racquel Jemison, Ph.D., Christina MacLaughlin, Ph.D., and Paulomi Majumder. Ph.D., all of the American Chemical Society, for the second session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session Two: 'Expanding Pathways to Publishing Careers,' was held June 13, 2024.
How Barcodes Can Be Leveraged Within Odoo 17Celine George
In this presentation, we will explore how barcodes can be leveraged within Odoo 17 to streamline our manufacturing processes. We will cover the configuration steps, how to utilize barcodes in different manufacturing scenarios, and the overall benefits of implementing this technology.
1. The Legatum Institute Survey of Entrepreneurs
INDIA 2011
Nathan Gamester
September 2011
2. QUIZ!
1. What percentage of Indian entrepreneurs believe 6. What percentage of Indians state that the global
that India’s economy will be a “much stronger economic crisis has had a “large negative impact” on
global power” in five years time than it is now? the willingness of individuals to start and run their
own business?
a) 92%
a) 50%
b) 42%
b) 33%
c) 15%
c) 80%
d) 60%
d) 17%
2. What percentage of 18-34 year olds think that the
Indian government is currently doing a “very 7. According to business owners, what percentage
good job”? answered that it has become “much easier” to
access finance over the last 12 months?
a) Almost none
a) One-half
b) Roughly one in ten
b) One-quarter
c) Roughly a quarter
c) Three-quarters
d) Roughly a half
d) Almost none
3. What proportion of business owners believe that
the Indian public places “a lot” of value on the 8. Which group of business owners were the most
contribution entrepreneurs make to the economy? positive that India’s economy will be a much stronger
global power in five years time than it is now?
a) 12%
a) Those with annual revenue of less than or equal to
b) 70%
300,000 rupees
c) 47%
b) Those with annual revenue of 300,001 to 750,000
d) 4% rupees
c) Those with annual revenue of 750,001 to
4. Residents of which major city are most positive
1,200,000 rupees
about generally trusting others?
d) Those with annual revenue of 1,200,001 or more
a) Delhi
rupees
b) Chennai
9. In which major city have the highest percentage of
c) Kolkata
people paid a bribe?
d) Mumbai
a) Delhi
5. When asked if Indian society is more welcoming b) Chennai
of entrepreneurs now than 10 years ago, what
c) Kolkata
percentage of business owners responded with “yes,
much more”? d) Mumbai
Answers: 1b, 2b, 3c, 4c, 5b, 6d, 7b, 8c, 9a, 10c
a) 90%
10. What percentage of entrepreneurs believe that
b) 49% India will become the most important global power
in 20 years time?
c) 10%
a) 10%
d) 2%
b) 93%
c) 56%
d) 74%
3. The Legatum Institute Survey of Entrepreneurs:
INDIA 2011
Nathan Gamester
THE LEGATUM INSTITUTE IS AN INDEPENDENT NON-PARTISAN ORGANISATION BASED IN LONDON.
WE STAND FOR GROWTH AND GOOD GOVERNANCE. OUR RESEARCH, PUBLICATIONS,
AND PROGRAMMES ADVANCE IDEAS AND POLICIES IN SUPPORT OF FREE AND PROSPEROUS
SOCIETIES AROUND THE WORLD. VISIT US AT WWW.LI.COM.
Author’s Note: The author would like to thank Greg Gardner of the Legatum Institute for his assistance in writing and editing this
report, as well as Edo Omic and Freneka Mumford (both of the Legatum Institute) for their contributions towards this report.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 1
4. CONTENTS
OVERVIEW 3
SUMMARY FINDINGS 4
OPTIMISM 5
MOTIVATION, INSPIRATION, AND OPPORTUNITY 8
NETWORKS, FAMILY, AND SOCIETY 10
CORRUPTION AND “JUGAAD” 13
FINANCE AND THE ECONOMY 16
GOVERNMENT 19
ENTREPRENEURIAL ENVIRONMENT 22
SAMPLE 24
QUIZ INSIDE FRONT COVER
DATA COMPARISON 2010 VS. 2011 INSIDE BACK COVER
This report is part of a wider series on entrepreneurship that includes surveys on India, China,
and Nigeria. To download these surveys and for further information visit www.li.com
Page 2
5. OVERVIEW
Over the last 12 months, the political and economic landscape of
most Western economies has been dominated by the fear of a double-dip THIS SURVEY PROVIDES SUCH
recession, rising debt levels, and credit rating downgrades. Yet, in India, INSIGHT AS IT AIMS TO ‘GET
the outlook remains largely positive as the country continues its rise as INSIDE THE MINDS’ OF INDIA’S
an increasingly important global economic power. India’s population now LARGE AND GROWING POOL
exceeds 1.2 billion1 and its economy continues to grow at one of the fastest
OF ENTREPRENEURS
rates in the world: GDP growth was 10.4% in 2010 and is predicted to be
slower – but still impressive – at 8.2% in 20112.
However, several high-profile corruption scandals over the last year
have caused widespread protests and created a sense of public disillusion
with the current government. Add to this the fact that double-digit
inflation has proved more forthcoming than double-digit growth in recent
forecasts, and it is easy to see why question marks have arisen regarding the
inevitability of India’s ascent.
Whichever path the Indian economy takes, it is sure that its entrepreneurs
– the lifeblood of any thriving economy – will have a significant role to play.
Whether they are a sole-trader of a tea stall or a CEO of a multi-billion
rupee manufacturing firm, entrepreneurs in all their forms have been
instrumental in India’s rapid development since the economic liberalisation
20 years ago. Their decision to take risks, invest in ideas, and develop the
goods and services of tomorrow are the reason India is the diversified
market economy it is today.
There exists today a multitude of objective data about entrepreneurship.
For example we know the average time it takes to start a business in India
(29 days)3, the total tax rates faced by Indian entrepreneurs (63%)4, and the
number of mobile phones they possess (45 per 100 people)5. But this only
provides us with part of the full picture. What is missing is data on how
and why Indian entrepreneurs make the decisions they do. What motivates
them? Who do they turn to for advice? What is it really like ‘on the
ground’ for an entrepreneur in India?
This survey provides such insight as it aims to ‘get inside the minds’
of India’s large and growing pool of entrepreneurs. For the third
consecutive year, the Legatum Institute, in conjunction with YouGov,
has surveyed a panel of over 2,000 Indian business owners and
entrepreneurs to provide insight into the characteristics of India’s
current and future growth, as an economy and as a nation.
1
Census of India 2011, Provisional Population Totals, (New Delhi: Government of India, 2011)
2
International Monetary Fund, World Economic Outlook 2011, (Washington DC: IMF, 2011)
3
International Finance Corporation and World Bank, Doing Business 2011, (Washington DC: World Bank, 2011)
4
Ibid.
5
World Bank, World Development Indicators 2011, (Washington DC: World Bank 2011)
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 3
6. SUMMARY
Pervasive optimism is the dominant theme in this year’s survey,
although paradoxically it is clear that there are growing concerns INDIA’S REPUTATION
regarding corruption. The outlook among India’s entrepreneurs is AS A BEACON OF
generally positive and extremely so on several fronts: almost 70 per cent ENTREPRENEURSHIP WILL
think India is currently heading in the right direction and even more BE JUSTIFIED FOR SOME
are confident their country will be a stronger economic power in five
YEARS TO COME
years time. A considerable majority of Indian entrepreneurs are equally
positive about trust in society and their government’s policies to make
India business friendly.
Despite such optimism, a note of caution: compared to their elder
counterparts, India’s younger generation of entrepreneurs are consistently
less optimistic about the future, less trusting of society, and less approving
of government. However, this 18-34 year old group still see a positive
future for India, indicating more an empowered generation willing to speak
out, rather than a cohort of discontented revolutionaries.
The second major finding was that not only is dissatisfaction concerning
corruption very high – more than nine in 10 entrepreneurs think it is
a problem – but 80% believe the problem to be getting worse. Should
such a trend continue, the prospects for entrepreneurs may diminish
and the aforementioned optimism could wane.
Regardless, for now entrepreneurship in India is in good shape and it
is not only the abundant optimism that indicates growth will continue.
The communications and IT sector is viewed as having the best growth
prospects, but several other sectors are also viewed very positively. The
evidently strong motivation of “being your own boss”, reports of easier
access to finance, and the fact that 84 per cent of Indian entrepreneurs
view their country as a good place to succeed are all reasons to believe
India’s reputation as a beacon of entrepreneurship will be justified for
some years to come.
Page 4
7. OPTIMISM
Indian entrepreneurs show deep levels of optimism
both for the future of their country and for the
economic possibilities available to them. Perhaps
most strikingly, over half of all Indian entrepreneurs
believe that India will be the most important global
economic power in 20 years time.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 5
8. OPTIMISM
More than two-thirds of Indian entrepreneurs believe India is heading in the right direction: 69 per cent
said things in India are currently going in the right direction, while only 27 per cent of entrepreneurs think
things are heading in the wrong direction.
Do you think things in India are currently going in the right or wrong direction?
3%
27% 69% right direction
27% wrong direction direction
Right 69%
69% 5% don’t know
Wrong direction 27%
Don’t know 3%
100%
80% 73%
66% This optimism seems to grow with
62%
age. While 62 per cent of 18-34
percentage
60%
year olds think India is heading in
the right direction, this increases
to 66 per cent in the 35-54 age
40%
bracket, and even more so to 73
per cent for over 55 year olds.
0%
18-34 years
35-54 years
over 55 years
age bracket
Most Indian entrepreneurs believe that hard work will get them ahead financially: 78 per cent said “yes” –
a higher percentage than in 2010 – while only 21 per cent of entrepreneurs believe that hard work won’t
get you ahead financially.
Page 6
9. [q9] Looking ahead, where do you see India’s economy headed in the next 5 years? %
India’s economy will be a much stronger global power than it is now 42
India’s economy will be a stronger global power than it is now 44
India’s economy will be about the same in global terms as it is now 11
India’s economy will be a weaker global power than it is now 2
India’s economy will be a much weaker global power than it is now 1
Don't know 1
Getting access to finance over the last 12 months
Easier: 68 per cent of entrepreneurs
25 per cent “much easier”
3 per cent “much harder”
15 per cent “somewhat harder”
Looking ahead to the next five years, India’s Looking further ahead, most Indian entrepreneurs
entrepreneurs are optimistic about their believe India will be the most important global
country’s standing on the world stage with 86 economic power in 20 years (56 per cent),
per cent believing India will be a stronger power followed by China (26 per cent). The US is not
than it is now, and 42 per cent of those believing regarded highly here, with only eight per cent
it will be “much stronger”. Only 11 per cent of entrepreneurs believing it will be the most
believe it will be about the same as it is now and important economic power in 20 years. Brazil,
just three per cent believe it will be a weaker Germany, Japan, Russia, and the UK are barely
power than it is now.
[q9] Looking ahead, where do you see India’s economy headed in the next 5 years?
India’s economy will be a much stronger global power than it is now
% considered, receiving just 10 per cent, combined.
[q11] And looking further ahead, which country do you think will be the most important global economic power in 20 years time?
(Please tick one option)
42
%
Brazil 1
India’s economy will be a stronger global power than it is now 44
China 26
India’s economy will be about the same in global terms as it is now 11
India’s economy will be a weaker global power than it is now
India
2
Germany
56
2
India’s economy will be a much weaker global power than it is now 1
Japan 4
Don't know 1
Russia 1
United Kingdom 2
United States 8
Other 0
Looking ahead, where last 12you see India’s economy
Getting access to finance over the do months And looking further ahead, which country do you think
Don't know 1
Easier: 68 per cent of entrepreneurs
headed in the next five years?
25 per cent “much easier” will be the most important global economic power in 20
3 per cent “much harder”
15 per cent “somewhat harder”
years time?
11% US
China
42%
44% India
India’s economy will be a much stronger global power Brazil 1% Russia 1%
[q11] And looking further ahead, which country do you think will be the most important global economic power in 20 years time?
than it is now
(Please tick one option) 42% %
China 26% United Kingdom 2%
Brazil 1
China 26
India’s economy will be a stronger global power than it is now
India 44% 56 India 56% United States 8%
Germany 2
India’s economy will be about the same
Japan
Russia
4
1 Germany 2% Don’t know 1%
in global terms as it is now
United Kingdom
11% 2
United States
Other
8
0 Japan 4%
India’s economy will be a weaker global power than it is now
Don't know 2% 1
India’s economy will be a much weaker global power than it is now 1%
Don’t know 1%
In assessing the overall level of opportunity available in India, entrepreneurs perceive India to be a good
place to succeed. When asked whether India overall is a good or bad place for entrepreneurs to succeed,
84 per cent state that they think it is a good place, with one-third of respondents claiming it is a “very
good” place. This optimism remains consistent across all age categories, all growth rates of business, and
all sizes of business, both in terms of the number of employees and annual revenue.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 7
10. MOTIVATION,
INSPIRATION, AND
OPPORTUNITY
The desire for independence is cited as the main
motivation for starting a business, while having suitable
access to finance is cited as the most helpful factor.
Page 8
11. MOTIVATION, INSPIRATION, AND OPPORTUNITY
When asked the reason they became entrepreneurs, 12 per cent of respondents stated that they had no
other employment options, so became an entrepreneur out of necessity in order to get by. The overwhelming
majority, 88 per cent, had employment options but chose to pursue their entrepreneurial aspirations.
When asked for the main motivation for starting their own business, Indian entrepreneurs primarily cite
being independent (46 per cent) followed by the desire to make more money (25 per cent). Interestingly,
these are also the top two reasons cited by aspiring entrepreneurs for wanting to start a business. Only
14 per cent of Indian entrepreneurs cite their main motivation for starting their business as the desire to
exploit an opportunity to develop a product or service, and only eight per cent do it to be innovative.
WHAT WAS YOUR MAIN MOTIVATION IN ASPIRING
ENTREPRENEURS
STARTING YOUR OWN BUSINESS? ENTREPRENEURS
To make more money 25 17
To be independent and “be my own boss” 46 49
To exploit an opportunity to develop a product or service 14 12
To be innovative 8 12
To make a difference for society 6 10
Other 1 0
The most helpful factor in becoming an entrepreneur is the ability to access finance. This is cited by 31 per
cent of entrepreneurs as the most helpful factor followed by knowing another entrepreneur which 24 per
cent state is the most helpful factor.
Most Indian entrepreneurs believe that Indians tend to be more entrepreneurial people compared to
the people of other countries: 73 per cent think Indians are more entrepreneurial, with 34 per cent of
those stating Indians are “a lot more” entrepreneurial. Only 12 per cent think that Indians are equally
entrepreneurial compared to other nationalities, with a further 14 per cent thinking that Indians are less
entrepreneurial.
When asked where entrepreneurs gain their desire to become entrepreneurs, the highest response was
that of knowing another entrepreneur (32 per cent), closely followed by family (30 per cent). The other
most frequent responses were social networks and previous business experience both of which were
cited by 11 per cent of entrepreneurs. Interestingly, in responding to the same question, a much higher
percentage of 18-34 year olds cite the influence of school/university than elder entrepreneurs.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 9
12. NETWORKS, FAMILY,
AND SOCIETY
Levels of trust have risen in the past year but
are not yet as high as two years ago and the
social impact of business is still very important
for Indian entrepreneurs.
Page 10
13. NETWORKS, FAMILY, AND SOCIETY
When asked if in general people can be trusted, 60 per cent of Indian entrepreneurs answered “yes”. This
is higher than 2010 (54 per cent) but not as high as 2009 (74 per cent).
Do you generally think people can be trusted?
80
74%
70
60
percentage of respondents
60%
54%
50
40 41%
37%
30
20 22%
10
0
Yes No Yes No Yes No
2009 2010 2011
survey year
Interestingly, when looking at the total respondents, females are far less trusting than males: equal
numbers of women answered “yes” and “no” to this question, whereas significantly more males answered
“yes” (58 per cent) compared to “no” (37 per cent).
The proportion of over 55 year olds who think people cannot be trusted is just 20 per cent, which is
less than half the percentage of 18-34 year olds who believe people cannot be trusted (42 per cent),
signifying a more sceptical and distrusting younger generation.
Just under half (49 per cent) of Indian entrepreneurs believe that Indian society is “much more” welcoming
of entrepreneurs than it was 10 years ago. A further 43 per cent believe it is “somewhat more” welcoming,
while only five per cent think it is “about the same” as it was 10 years ago.
As already mentioned, the most helpful factor to starting a business is having access to finance (31
per cent). However, the second and third highest responses are, knowing another entrepreneur (24
per cent) and having support from family (18 per cent), signifying a reliance on networks and family in
becoming an entrepreneur.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 11
14. When it comes to seeking advice and help, there is a difference in response from entrepreneurs compared
to senior managers. Entrepreneurs primarily consult family and friends (29 per cent) as well as other
entrepreneurs (26 per cent), while senior managers consult professional consultants and business journals
(30 per cent).
WHEN YOU HAVE QUESTIONS OR NEED
INFORMATION TO MAKE IMPORTANT BUSINESS ENTREPRENEURS SENIOR MANAGERS
DECISIONS, WHO DO YOU TURN TO FOR ADVICE?
Consult other entrepreneurs 26 14
Read business journals, publications, and websites 23 30
Consult family and/or friends 29 13
Consult your colleague(s) in your company 6 10
Professional consultants 13 30
Don't know 1 2
When asked about the social impact of their work, 92 per cent of Indian entrepreneurs say that it is
important with 65 per cent stating that it is “very important” and is a main motivation for what they do.
Female respondents consider the social impact of their work more than their male counterparts do – 71
per cent of women citing it as a main motivation, compared to 62 per cent of men.
When asked what entrepreneurs believe is the biggest positive effect of their business on others besides
creating value and satisfying customers, 40 per cent say it is improving the quality of life in the community
where they work. The next most common answer was making an impact on the standards and ethics in the
entrepreneur’s profession (29 per cent).
Page 12
15. CORRUPTION
AND “JUGAAD”
Corruption continues to be a serious problem
that hurts business in India and the proportion of
entrepreneurs who think corruption is getting worse
has risen in the past 12 months.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 13
16. CORRUPTION AND “JUGAAD”
When asked whether corruption was a problem that hurts business, 91 per cent of Indian entrepreneurs
said that it was a problem, with 65 per cent of those stating it was a “serious problem”. This has not
changed since 2010 but it is an increase from 2009 when only 56 per cent cited corruption as a “serious
problem” that hurts business in India.
Of India’s six largest cities (Bangalore, Chennai, Delhi, Kolkata, Hyderabad and Mumbai), the capital city Delhi is
where the biggest percentage of resident entrepreneurs report corruption as being a “serious problem”.
Most worryingly for Indian business, 80 per cent of entrepreneurs say that overall corruption is getting
worse. Furthermore, the number of entrepreneurs who think corruption is getting “much worse” has risen
by five per cent since 2010. Now, more than half (52 per cent) of Indian entrepreneurs view corruption as
getting “much worse”, with an additional 28 per cent stating it is getting “somewhat” worse.
HOW WOULD YOU SAY THE LEVEL OF CORRUPTION
2011 TOTAL % 2010 TOTAL %
HAS CHANGED OVER THE LAST FEW YEARS?
It is getting much worse (i.e. it is more of a problem) 52 47
It is getting somewhat worse 28 28
It is about the same 11 17
It is getting somewhat better 8 7
It is getting much better (i.e. it is less of a problem) 1 1
Cleaning up corruption is cited among Indian entrepreneurs as the most important factor for ensuring
India’s future economic growth – 30 per cent cited this as the most important factor.
Despite the importance entrepreneurs place upon cleaning up corruption, non-entrepreneurs or senior
managers clearly view it as even more urgent, with 40 per cent citing it as the most important factor in
future growth. Entrepreneurs are almost equally concerned with the government becoming more business
friendly (27 per cent) as they are with corruption, whereas only 16 per cent of non-entrepreneurs and
senior managers see business reforms as the priority.
When asked to describe in their own words the types of problems that entrepreneurs think are caused
by corruption, there was a wide range of responses. The frequently cited problems included “having to
pay bribes to obtain licenses” and “delayed and uncertain (business) progress”, although as many as 10 per
cent of respondents said no problems arose from corruption.
Page 14
17. The number of entrepreneurs who say Has your own company ever been pressured to pay a bribe?
they have been pressured to pay a bribe
has also risen sharply to 55 per cent (up
from 44 per cent in 2010). Further, nine 9%
per cent of Indian entrepreneurs stated 4%
they would “rather not say” if they
have been pressured to pay a bribe, 32% 55%
suggesting that the actual number is
higher than reported. Almost two-
thirds of respondents living in Delhi
reported paying a bribe, the highest
proportion of any of the six largest
cities, while less than a quarter say they
have not been pressured to pay a bribe All Entrepreneurs
in the capital.
Yes Don’t know
No Would rather not say
13% 4% 5% 4% 8%
1%
53% 57% 64%
34% 24%
33%
Bangalore Chennai Delhi
7% 9%
6% 11% 2%
60% 51%
46%
27% 39%
43%
Hyderabad Kolkata Mumbai
4% 9%
Jugaad – the Hindi word meaning ingenuity and the ability to improvise to get around, or to deal with,
prohibitive rules and institutions – remains important to Indian entrepreneurs with 48 per cent stating it
55%
32%
is “very” important and 38 per cent stating it is “somewhat” important.
Jugaad is most important among businesses that are earning the most revenue and growing at the fastest
rate. For example, for those companies that grew more than 50% in the last year, Jugaad was considered
“very important” by 72 per cent of respondents.
All Entrepreneurs
When looking at Jugaad across genders, there is an interesting difference: 57 per cent of women find
Jugaad “very important”, whereas only 43 per cent of men said it was “very important”.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 15
18. FINANCE AND
THE ECONOMY
Although still recovering from the negative
effects of the global economic crisis, Indian
entrepreneurs state that access to finance has
become easier in the past 12 months.
Page 16
19. Getting access to finance over the last 12 months
Easier: 68 per cent of entrepreneurs
25 per cent “much easier”
FINANCE AND THE ECONOMY
3 per cent “much harder”
15 per cent “somewhat harder”
The economic crisis has had an overall negative impact on the willingness of Indian’s to start their own
business according to 58 per cent of Indian entrepreneurs, indeed 17 per cent say this has been a “large”
negative impact. Interestingly, 27 per cent of entrepreneurs believe that the financial crisis has had a
positive impact on individuals to start and run their own business.
Gaining access to finance has become easier over the last 12 months according to 68 per cent of
entrepreneurs, with 25 per cent saying it has become “much easier”. Only three per cent say it has
become “much harder” and 15 per cent say it has become “somewhat harder”.
Has access to finance become easier or more difficult over the last 12 months?
3%
15%
25%
Much easier 25%
14% Somewhat easier 43%
Neither easier nor more difficult 14%
43% Somewhat harder 15%
Much harder 3%
Indian entrepreneurs state that gaining access to finance is the most important factor needed for success,
when listing their top three priorities. Accessible finance tops the list with 51 per cent followed by the
ability to take risks (45 per cent) and possessing creativity and invention (43 per cent).
When asked for the main source of finance used to start their business, most Indian entrepreneurs cited a
bank loan (38 per cent), followed by personal savings (31 per cent) or a personal loan from a family member
(17 per cent).
Of those who used a bank loan, 69 per cent used a state run bank while 31 per cent received their loan
from a private bank.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 17
20. 50
When asked which three sectors of the Indian
economy offer the greatest prospect of growth
right now, Indian entrepreneurs listed as their
top three: communication and IT (46 per cent);
40
banking and financial services (45 per cent); and
technology (27 per cent).
Which three sectors of the Indian economy present
the greatest growth opportunity right now?
(Please tick up to 3 options)
30
percentage %
20
10
0
Banking and financial services
Technology (products and services)
Consumer products
Real Estate
Educational services
Healthcare products and services
Agriculture
Sciences
Environmental products and services
Professional Services
Construction
Legal services
Defence products
Transportation and Infrastructure
Media/Entertainment
Retail
Manufacturing
Hospitality
Communication and IT
sector
Page 18
21. GOVERNMENT
Overall, Indian entrepreneurs are positive about
their government’s performance in making India a
business-friendly place although data reveals that
government can do more to encourage an increase
in entrepreneurial activity.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 19
22. GOVERNMENT
Overall, Indian entrepreneurs are more positive than negative about the Indian government’s current
performance. When asked if the government is currently doing a good or a bad job, more respondents
selected “very good” and “fairly good” than selected “very bad” and “fairly bad”. However, this is
hardly a ringing endorsement of the current government particularly when you consider that a quarter
of respondents selected “neither good nor bad”, which suggests a high degree of lethargy among
entrepreneurs about the government’s performance.
DO YOU THINK THE INDIAN GOVERNMENT
ENTREPRENEURS %
IS CURRENTLY DOING A GOOD OR BAD JOB?
Very good job 17
Fairly good job 32
Neither good nor bad job 24
Fairly bad job 15
Very bad job 13
Generally, younger Indians are showing higher levels of discontent with their government’s performance
than citizens aged 35 and above.
When asked to name the most important factor for India’s future economic growth, the top responses
all have direct implications for government: cleaning up corruption was cited as the most important by 30
per cent of Indian entrepreneurs; government becoming more business friendly was next with 27 per cent;
while one in four believe a better-equipped workforce from an improved education system is the priority.
A strong majority (60 per cent) of under 35 year olds do not think the government is doing a good job.
Yet, exactly half of over 35 year olds believe the current Indian government is doing either a “fairly good”
or “very good” job.
Page 20
23. When asked more specifically about the government’s performance in making India a business-friendly
country, Indian entrepreneurs are more positive. A total of 67 per cent believe the government is doing a
good job, indeed 22 per cent say is it doing a “very good” job. Only 14 per cent said the government was
doing a “bad job”, while 19 per cent said its performance was “neither good nor bad”.
There is a high level of positivity for state governments’ performance on this metric. A total of 63 per cent
believe their state government is doing a good job, and 28 per cent say it is doing a “very good” job.
How would you rate the present government’s performance in making India a business-friendly country?
Indian government
Very good
State government
Fairly good
Neither bad nor good
Fairly bad
Very bad
0 10 20 30 40 50
percentage %
With regards to the perception of whether the respondents’ state is a good place for entrepreneurs
to succeed, the situation looks more positive. Three-quarters think their state is a good place for
entrepreneurs to succeed, with 31 per cent of those saying it is a “very good” place. Only four per cent
think their state is a “very bad” place for this.
Delhi scores highest (of the six largest cities) in this regard as 38 per cent think the capital is a “very good”
state in which to succeed, while just a quarter of respondents in Bangalore rate their state (Karnataka) as
a “very good” place for entrepreneurs to succeed.
When it comes to understanding which factors provide most assistance when starting-up as an
entrepreneur, the Indian government performs poorly. For example, when asked to name the most helpful
factor in becoming an entrepreneur, only four per cent cited pro-business actions by the government.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 21
24. ENTREPRENEURIAL
ENVIRONMENT
In general Indian entrepreneurs believe that India is
a good place to be successful and indeed businesses
have experienced an increase in growth over the
past 12 months.
Page 22
25. ENTREPRENEURIAL ENVIRONMENT
When asked to assess the value the wider public places on the contribution entrepreneurs make to the
economy, Indian entrepreneurs are very positive: a total of 85 per cent believe that the public value the
contribution they make, indeed 47 per cent believe the public place “a lot” of value on their contribution
to the economy.
As previously mentioned, entrepreneurs perceive that India is a good place for entrepreneurs to succeed.
When asked whether India overall is a good or bad place for entrepreneurs to succeed, 84 per cent state
that they think it is a good place, with 33 per cent of those stating it is a “very good” place.
When asked to state the growth rate of their business over the last year, only eight per cent reported
growth of “less than 5%”. A high 35 per cent of entrepreneurs experienced annual growth “between 5%-
10%”, closely followed by 31 per cent of entrepreneurs who experienced “between 10% - 15%” growth.
Only eight per cent of entrepreneurs experienced annual growth upwards of 25%.
When compared with 2010 data, some differences emerge. The most obvious difference (see table) is that
the median growth rate for Indian businesses has increased. This means that in 2011 more businesses have
moved out of the lowest bracket of growth, and now occupy the slightly higher brackets of growth.
AND WHAT WAS THE GROWTH 2011 2010 500
1-49
RATE OF YOUR COMPANY OVER ENTREPRENEURS ENTREPRENEURS EMPLOYEES
EMPLOYEES
THE PAST YEAR? % % OR MORE
Less than 5% 8 18 0 7
Between 5% and 10% 35 36 18 39
Between 10% and 15% 31 20 33 31
Between 15% and 25% 17 12 22 15
Between 25% and 50% 6 6 15 5
More than 50% 2 4 11 1
Don’t know 1 5 1 1
When you look at the growth data in terms of business size, it becomes clear that big companies are
growing faster than small companies. Nearly half (48 per cent) of all companies with 500 employees or
more grew at a rate of 15% or more in the last year, with 26 per cent of those companies growing at more
than 25% growth in the last year. Whereas, only six per cent of companies with 1-49 employees grew at a
rate of 25% or higher.
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 23
26. SAMPLE
This survey is part of a series published by the Legatum Institute, in
conjunction with YouGov – the world’s leading online polling research
firm. The results were gathered in June 2011 from a panel of entrepreneurs,
senior managers, and aspiring entrepreneurs from across India. The total
number of respondents who completed the survey was 2,012, of which
50 per cent were classed as entrepreneurs*, 40 per cent as aspiring
entrepreneurs**, and the remaining 10 per cent identified themselves
as senior managers*.
Of the total respondents, 78 per cent were male, 68 per cent were in
the 18-34 age bracket, 85 per cent were still in education at the age
of 20, 81 per cent identified themselves as belonging to the Hindu
religion (only one per cent say they do not belong to a religion), and 60
per cent answered the survey from home (33 per cent from work).
The reason for running a panel survey is to enable year-on-year comparisons
and to track changes over time. Where interesting changes have occurred
since last year, they have been highlighted in this report. For certain
questions, comparison is not possible because the question has been
modified over the past year in order to improve the quality and clarity of
the data collected.
Entrepreneus are categorised by answering Option (a) to the following question and Senior
Managers by answering Option (b):
* Entrepreneurs and senior managers are categorised by their answer to the following
question:
Which of the following applies to you?
(a) I run my own business
(b) I am employed as a senior manager
** Aspiring Entrepreneurs are those who answered with option (a) to the following
question:
And which of the following best applies to you?
(a) I am the type of person who would like to start their own business
(b) I am the type of person who would prefer to be employed by an existing business
Page 24
27. DATA COMPARISON 2010 VS. 2011
This table tracks some key differences and similarities between the findings from our 2011 survey and the
findings from our 2010 survey:
2011 2010
69% believe India is heading in the right direction 64% believe India is heading in the right direction
56% believe that India will become the most important 50% believe that India will become the most important
global power in 20 years global power in 20 years
Sector perceived as having the highest growth potential: Sector perceived as having the highest growth potential:
Communication and IT (46%) Banking and Financial (49%)
67% think that the government is doing a good job in 63% think that the government is doing a good job in
making India business friendly making India business friendly
29% consult a family member or friend when making an 42% consult a family member or friend when making an
important business decision important business decision
55% of entrepreneurs have been pressured to pay a bribe 44% of entrepreneurs have been pressured to pay a bribe
60% of entrepreneurs believe people can be trusted 54% of entrepreneurs believe people can be trusted
78% think that people in India can get ahead financially 74% think that people in India can get ahead financially
by working hard by working hard
49% believe India is “much" more welcoming of 49% believe India is “much" more welcoming of
entrepreneurs than 10 years ago entrepreneurs than 10 years ago
65% cite corruption as a serious problem for business 63% cite corruption as a serious problem for business
Entrepreneurs with 500+ employees who say “Jugaad” is Entrepreneurs with 500+ employees who say “Jugaad” is
very important: 48% very important: 61%
31% think their local/regional governments need to 17% think their local/regional governments need to
reduce the time and costs associated with enforcing reduce the time and costs associated with enforcing
contracts contracts
80% believe that corruption has got worse over the last 74% believe that corruption has got worse of over the
few years last few years
51% think access to finance is the most important factor 43% think access to finance is the most important factor
in helping an entrepreneur succeed in helping an entrepreneur succeed
30% think cleaning up corruption is an important factor 30% think cleaning up corruption is an important factor
for India's future economic growth for India's future economic growth
47% believe the Indian public place a lot of value on 35% believe the Indian public place a lot of value on
entrepreneurship entrepreneurship
17% cite family as their initial source of start-up capital 39% cite family as their initial source of start-up capital
65% indicate that the social impact is the main 61% indicate that the social impact is the main
motivation of their work motivation of their work
8% think school/university is where others gain their 6% think school/university is where others gain their
desire to become entrepreneurs desire to become entrepreneurs
75% think their state is a good place for entrepreneurs 71% think their state is a good place for entrepreneurs to
to succeed succeed
86% believe India will be in a stronger economic position 84% believe India will be in a stronger economic position
in five years time in five years time
THE 2011 LEGATUM INSTITUTE SURVEY OF ENTREPRENEURS: INDIA Page 25