The majority of Australians are interested in having a go at entrepreneurship, according to a new global report into attitudes towards self-employment and entrepreneurship.
The 2013 Amway Global Entrepreneurship Report surveyed over 26,000 people across 24 countries and Australia had the third highest rate of positive sentiment towards entrepreneurship with 84% of respondents. That was 3% behind world leaders Finland and Denmark and 14% above the international average.
The study found the leading reason for pursuing entrepreneurship was independence and the opportunity to be one’s own boss. In Australia, 62% of respondents listed those as key attractions.
Pro-entrepreneurial spirit was especially high among Generation Y respondents, with 83% saying they were keen to become their own bosses.
Fear of failure was cited by two thirds of the respondents globally as an obstacle to starting their own business with just over half of Australian respondents (53%) reporting it as an issue.
For Australians reporting a fear of failure as an obstacle to launching a business, the leading concerns were financial burdens up to bankruptcy (38%), threat of an economic crisis (20%), threat of unemployment (15%) and legal consequences such as lawsuits (12%).