The Amway India released the Amway India Entrepreneurship Report (AIER) 2017. The report was launched by its president at the Global Entrepreneurship Summit (GES) 2017 held in Hyderabad Doug DeVos.
The AIER is an annual report compiled by the Amway since 2014, that promotes and facilitates entrepreneurship in the country and globally. AIER 2017 chronicles the perception of students in four distinct areas namely perception on entrepreneurship, entrepreneurship as a career choice, entrepreneurial environment and entrepreneurial education.
The AIER findings are from a study conducted by Nielsen for Amway India under which they surveyed 10,809 final year undergraduate students, including 6,269 male and 4,540 female students covering 28 cities, 28 small towns and students hailing from rural areas across 21 States of India in 2016. The report focuses on scrutinizing and understanding the student community’s attitude towards entrepreneurship in India.
From AIER 2017, it was derived that over 60 per cent students in the country consider entrepreneurship as a good prospect for earning a livelihood. 75 per cent want entrepreneurial courses to be included in the curriculum. 60 per cent students gain social/family support to become entrepreneurs. 71 per cent respondents cited ‘fear of failure’ as the biggest obstacle in starting one’s own business. Customer satisfaction was identified as a key attribute of a successful entrepreneur. Wealth creation is the most important inducement for entrepreneurship among students. Gujarat, Punjab, Madhya Pradesh, Karnataka, and Rajasthan ranked the highest in terms of State climate for entrepreneurship.