gallup poll entreprueners

Indians are Not Risk Takers and India is Worst Country in Asia for Entrepreneurs

According to a New Poll from Gallup India lags behind other Asian countries in promoting Entrepreneurship.

Gallup created a framework for Entrepreneurial ecosystem based on human capital, role of government and individual entrepreneurial traits.

gallup poll entreprueners
From Gallup Report


Based on the latest Gallup World Poll results from March 2012,

  • 16% of Indian adults report that they currently own a business.
  • Of those, 22% say they formally registered their business.

In terms of business size, half of business owners report working alone, and 47% have hired five or fewer employees.

The key barrier to current and aspiring entrepreneurs is the lack of a favorable support system. The analysis based on the Gallup framework shows that India ranked in the bottom quartile particularly on external factors such as government support, culture, social capital, and access to training.

By contrast, intrinsic factors — such as entrepreneurial talents and attitudes — ranked much higher than external factors in enabling support for aspiring entrepreneurs. Improved external factors may help unlock more of the Indian population’s natural entrepreneurial potential.

Indians are Not Risk Takers

More than 60% of the Indian population possesses personality traits that are critical for success as an entrepreneur — such as business thinking (69%), optimism (66%), and persistence (65%) — which suggests a wealth of entrepreneurial capacity.

However, willingness to take the risk of running a business is not a common trait among a majority of Indians.

Yesterday following question was posted in Fanpage.

  • Option 1: Job after BE with 3 lakhs job offer package.
  • Option 2: Start a business with 3 lakhs investment.

What will be your pick and why?

Lets look at some of the answers.

Manas Agrawal

Well i will better do pg(ms,mtech or me), if any one of this then 1 as the package will increase but buisness is risky one..

Fh Yousafzai

Depends what’s the nature and scope of the business first I ll analyze their financial reports if not risky then definitely bzns otherwise

Indirajith Palaniswaamy

i would better do Job for a couple of years and then do a study abroad and then work for some more years and then will think about doing business. The probability of making 3 lakh the first year of the 3 lakh investment is very low at the same time the probability of loosing the 3 lakh is very high. Moreover i personally don’t think 3 lakh investment for a good business is enough*.

Vandit Shah

Job for minimum 3 years in relevant field for gaining experience and then business….I think experience is necessary for starting a business

Dheeraj Reddy

I would prefer business if I fail then I will go for job . Bcoz we have to take risks when there is age So,business 🙂

As the poll results suggest, work risk, risky was also used by couple of folks.

Lack of Support

Starting a business is USA is very simple.  It takes less than 30 minutes of work to submit the paper work and you your business is ready to roll.

It costs like $200 to register a simple business entity online.

But, according to the poll –

  • It is not easy to start a business in India.
  • 46% of Indians say the government makes it hard to start a business.
  • Nearly 3 in 10 (29%) aspirational entrepreneurs who plan to start their business in the next 12 months agree they have access to the money they need.

Indian Entrepreneurs need more access to mentorship and training.

In the article – Why Not Blogging as Career in India shows folks lack awareness that blogging can lead to a great lifestyle.

Poll also states that Indians have the potential. With good support system more small business will flourish.

Don’t you think, colleges should business courses?

Even couple of courses for Engineering  students in busioenss ca open world of possibilities.

Also, parents should encourage their kids to and help them cultivate entrepreneurial thoughts.

I haven’t seen any parent who looks for an school for their son and daughter, where business and entrepreneurship skills are taught.


There are few folks who posted comments like “I would prefer business if I fail then I will go for job . Bcoz we have to take risks when there is age So,business :)”

But, do you think words will turn into actions? 1000’s can actually post a comment, but how many do you think will actually take business route after completing college degree?

If you are looking for motivation then read this –   Why Your Goals are Not Bigger and SMARTer.

So, do you agree to this?

Willingness to take the risk of running a business is not a common trait among a majority of Indians.

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  1. Infosys, yea right.

    On what base do you say infosys never gave bribe to anyone? You may be to only person on the planet to think infosys never bribed.

  2. hi, I can understand your desperation but i hope as team anna is becoming part of system, we will get better system. Look we have to be part of system to change system. We have to start from somewhere whatever bad situation is there. And we know Infosys never gave bribe to any one. if they can go this far then that means its not impossible.

  3. Do you remember how government treated Anna Hazare’s agitation last month?

    There is no possibly practical way that you could ever get support bigger than what team Anna had. I appreciate your enthusiasm but the fact remains that India has gone way too ahead in terms of corruption and there is no return path anymore.

    Indian public welcomes people like A Raja, look for news for the heroic welcome he got out of Jail. People like foolan devi become ministers. We can’t hang people who kill Indian PM, or the people who kill Indian CM or attack on Indian parliament. We can’t even punish people like kasab.

    There is a saying in urdu:
    Ek ullu hone se gulshan veeran ho jaate hain, anjaam-e-gulistan kya hoga, har shaakh pe ullu baithe hain.

    1. @Vish
      Sorry I was caught up in some work and couldn’t reply then.
      Yes sir, Indian public welcomes people like A Raja and people like foolan devi, people who can barely speak english or school dropouts become ministers, it is because the educated people are selfish and do not want to bring about that change!

      Infosys may not be the most righteous company but at the same time, no corporate company is, be it anywhere!

      1. People are not only selfish, people have NO choice, if Anna Hazare can’t do anything, NO one can.

        I also must say that schooling or college education has nothing to do with all this. The fact is it’s about the moral quality of people.

        Infosys, well you have no clue what infy has done to the reputation of India in US

  4. My Dear Friend,
    1. Indian population is over 1.2 Billion and a few million supporters sums up to a meager 1 or 2%. .
    2. If I recall it correctly the government did hear the sound but had shown its true colors and did not keep up its promises as usual.
    3. I am not trying to convince you or tell something against you, I just wanted to convey that I believe that it will get better by the considerable efforts of all the people put in together to make it better for it starts with one person taking an initiative, my friend.

  5. Please educate us on how could anyone make sounds louder than Team Anna and a few million supporters did. If I recall it correctly the sound was made for more than a year.

  6. “If the deaf are to hear, the sound has to be very loud”
    If the problems are to be noticed by the Government, more and more people have to shout it out loud and not give up , until they hear it!

  7. its not correct to say that indians are not risk takers.there are lot of issues in human life rather than job and buss.all these other issues had alot of impact on these 2 thingsin ones life.they have to satidfy their family and society with their work.but it not happens in other countries.and moreover in india its not easy to start a buss with a heavy amount.and 1 thing to rember that india is not a wealthy country.but trying to become is complety wrong to say indians are worst .there a lot of people in india who started their life with out slips to walk and reached to crores.and i bad to forget that even in india their is lot of change in al sectors in last 10 years which is not presented till independence.but their might be a dae to sae that indians are better from these survey

  8. No doubt indians are afraid to take risk coz of the culture,background and parental guidence etc..but other side of the coin is safety net in india people who’s parents have good wealth do take risks coz only they have safety net from their parents money……..

    1. represent India,show dey r not cowards,not too safe zone do what others don’t wanna do y wont u do it…..parents won’t walk all the roads of life,if u believe ur aspiring for ur parents wealth u even though after achieving everything u still doing it your money of ur parents their hard work has paid not yours…think in way best culture back ground n good guidance is a boost for successes………..

  9. In USA, there is easy availability of credit. If business do not go well, bankruptcy is an option. Poeple also survive on food stamps or benefits due to their children. Indians have opened gas stations, motels in USA and they are just surviving becoz of low margin of profit. In India you need huge investments in crores of rupees if you want to have a gas station or a hotel. Land is very expensive in India. If you sell 1 acre of land in punjab, you can buy 100 acres of land in Canada.
    but now things are changing as lot of Indians have returned back after exposure to USA and opening their own technology/investment/venture capital companies. Future lies in China and India. e-commerce and a huge upper middle class Indian population with disposable income has opened lot of opportunities for Indian enterpreneurs even with low investment.

    1. I disagree with the line saying Future lies in China and India. I don’t know China well enough, but India, NO WAY.

      I worked out of India and people spend hours talking on cell phone at work, no one shows up on time. People sign offer letters and don’t join (vanish on the last minute), people teach their kids to tell their age wrong to bus conductors to save some money on tickets and think their kids are smart, people get killed in road rages everyday (after fender benders), girls get raped in the capital of the country and half the people comment that it the fault of the girls for wearing provoking clothes.

      A country where people have NO common sense, NO professionalism, NO respect or care for others is not going anywhere.

          1. yup man… i agree wid u @Dev … its bad everyyyywhere…
            were swiss banks opened to harbour Indian money only..??
            n btw, dis article waz about enterpreneurship.. so.. if you are sayin dat india lacks enterpreneurs coz… Girls get raped in Delhi, or a lot of money is stashed abroad, or people arent proffessional at work , or land is expensive in punjab, or our parents are not rich to give us safety.. or watevaa… LAME EXCUSES..

      1. y not decide to change it…..y dont u try being an indian learn our sentiments,our values….some things r grasped by us in wrong eventhough intention is good….few things i am not prod but this is country if its need me i will be ready to answer her but r u????

        1. Read one of the comment posted by him about his family, then you will understand why its tough to understand the sentiments and value.

        2. Change? Seriously? In a country where Anna Hazare with millions, rather billions of supporters can’t do anything, you expect me or you to be able to bring in a change?

          1. if a sculptor decides to lay out a beautiful design ona stone its because he has heart…if all of us unite only by heart not for mass me,u can really change….remember it takes a minutes to declare war,but to maintain peace we need years of understanding,belief,hope but also heart to tolerate…..if others can y cannot me or u or anybody……….

          2. @Vish
            Change does not come overnight, Indian Independence was not acheived in one day isn’t it? Countries are not built in one day, give your best and if not you, atleast hope that the future generations enjoy the fruit of the efforts of all striving people you mentioned rather than running away from the problems.
            I do agree that it is a bit offtopic from the original post sorry if it offends anyone in anyway

          3. I do understand that change doesn’t happen in a day, things improve over time.

            This said, my problem is that the things are getting worse, not improving. I had never heard of so many rapes, killings of Engineers by mafia, people killed in road rashes, people injured over parking, racism.

  10. Totally agree. Asia in general is not the easiest part of the world to start a business since nobody here loves to take risks. It’s always ‘better’ to go the ‘easy’ way.

    1. dont judge me if u havn”t walked my path in my own shoes,under imagination…..a great words frm a pained heart….a person born with a class facilities doesn’t understand the pain,sacrifise,understanding of ppl beneath them…..spend few weeks here with a common man decide y we opt safe way….

      1. What you are saying is exactly what the post was. Indians are not risk takers (and yes your reasons are valid, what you missed here is why do those reasons exist?)


  12. “Starting a business is USA is very simple. It takes less than 30 minutes of work to submit the paper work and you your business is ready to roll.”

    According to my knowledge, you cannot start business in US unless you get its Citizenship. & getting US Citizenship requires atleast 10-12 yrs from PG in US.

    HSB please check & do reply.

  13. my sugesstion… be awesome open a business, register in ur parents name…invest only 10% of wat u earn n go to job just like other employee no harm no foul…be wats ur parents want…do wat u really want…problem solved….if 1 screw ,1 supports….but together u urself dont screw it up…..coz if screwed we all indians r expert in demotivating others….

      1. I must ask hw much honest life ur leading according to our constitution,preamble and of course our own sacred text…..even a government so corrupted,world ridden with machismo and hateful and a pure life form of earth brought down to level one should not speak,in these days you cant commit for grater good….btw i was doing it for my parents an sort of gift for elder how can one say this is fraud……

          1. yes sir coz we r indeed corrupting our own govenment with idea n amends not needed…selecting one who is not a fit profile of leader,casting our precious vote on hope of change,paying tax expecting something in return…..temme r we n government is not everybody corrupted……

        1. I don’t live according to Indian constitution because I live in Boston, but I live according to US constitution and can very proudly say that I am absolutely honest and have very high standards of integrity.

          I understand that the government is corrupted but that does not mean that everyone gets a license to get corrupted. I still remember those lines from my MA drivers manual which say something like, when you are pulled over, you can not tell the officer that others were going faster than that.

          1. wer did ur schooling……….
            wer did did ur bachelour degree……who taught n walked with u by allowing u to [pay only 89%of fees while they suffered loss our government our leaders decline facility by saying do wat u doing to me to a common man by this he will remember both of us……..our leader like lal bahdur shastry,gandhi,patel,think our freedom fighters….once u knw wat they did u love ur country my country India if u loved them,respected them……..

          2. I have real difficulty understanding what you are saying. Feel free to write Hindi if you need to.

            I know about lbs, gandhi, patel and many freedom fighters, I respect them a lot. My not living in India or not investing in India has nothing to do with them. I love the country and have nothing against India, I have my problem against the corruption in India, against insecurity, road rage etc

          3. Hello Vish,

            I do respect your feelings but if everyone runs away from the country due to this fear or hatred of the corruption, when will it even get better? If the greatest leaders of Indian History had to run away or feared for their lives, India wouldn’t have been independent.

          4. if u hav trouble with corruption fight a way no one is capable of….u got media u hav a rite to create a public discussion group…for change u cant demolish a corruption overnight but start with villages,den move to city….show them that u can if others can…….show us the proof that corruption can be overthrown…….

    1. 1. Your employer will kick you if they find out what you’re doing.
      2. You must devote time to run your business, that means low performance in your job and thus employer will surely kick you, even if they do not find what else you’re doing.
      3. If my parents don’t want me to do business, then neither do wish to be involved in it, in any way.
      4. Last, and most important aspect, if you do not give 100% efforts to your business passionately, you’re surely going to FAIL. This is a competitive market, so you shouldn’t expect yourself to simply chuck in and earn money. No, that’s not going to work.

      1. ever heard of known concept of trust worthy partner….if u do u wud be considering every aspect…..employer cant touch me coz i am not doing harm to the company….do ur work properly ,finish the job given to u,never give a reason coz a reason on 89%tym will be related by imagination so in simple words a lie….

  14. Hi HSB,

    I totally agree with wat you said, the thought, the agressiveness should start from an younger age itself. Kids should be exposed to the bigger things and the people who have achived bigger things. I would love to narrate my story.
    During my Engg I was a part of the enterprenual club. I had no idea of starting and thg or i did not even want to take the risk. But We had to start a campus venture for some evaluation. Then club pointed out at me coz i was good in designing. We started a customized gift shop. Then I started breaking my head over it to bring up something that was commercially feasible. We made it finally and wen I had the first 20RS i earned with my own idea I felt like richesst man in the world. then we got big orders from our college and other colls also. I turned down the orders coz we were no able accomodate.

    But as I finished my coll All that came to end. Now am in IT company jus like any other fellow. I MISS those days badly. I would LOVE to relive those days. I Would love to go back to bizz. I will do it soon.

    And for those who complain abt money I will tell you thats not a limit at all. I have a fren of my who is working and parallelly started up his biz.. and is planning jump into it full time ver soon.
    Its all about IDEA , PASSION how we manage the thgs … this wat I feel..

    1. 1. I totally agree with you.. I had similar experience in college.. Once my own people started looking down at me (just because I wasn’t placed), I decided I’d land up in a job. But I will keep the lamp burning. If not today, tomorrow.. If not tomorrow, day after. Minute by minute, I will move towards my goal. As the saying goes, “Try and try till you succeed”..

      2. Infosys Narayan Murthy, Reliance Ambani didnt come from so called “Elite Societies”.. There are hundreds of people out there ready to fund you, if your idea is good. So, whoever is staying back from trying, just because u do not have finance, please Google.. It might surprise you, Indian government has deep pockets to fund on new ventures !!

      3. Wonders do not happen overnight. Newton didn’t discover gravity just because an apple fell on his head.! He had been researching about it all his life.! was an idea that was realized after 10 years !! Constant effort, strong determination, optimism and self-motivation is very much essential to start a new venture.. As long as you are passionate about it, nothing can boggle you down.. πŸ™‚

      4. Entrepreneurship is no fun. It means empty pockets, tiring eyes, critics all around, no success in initial stages(unless u managed to steal an idea like Zuckerberg πŸ˜€ ).. Never lose hope.. Night is at its darkest just before dawn.. So, keep trying.. People who complain, people who wait for help to come from skies above.. They go nowhere πŸ˜€ Be a leader, find solutions !!

      5. Speaking of India, I love my country the way I love my mother.! I would never throw her out just because she’s weak.. And speaking of corruption, any country where people choose money over motherland, ends up in this state.. There will ALWAYS be such people πŸ˜€ Only a country where people are valued for their individuality can grow.. Compliment ur neighbor when she funds an orphan, than when she buys a beautiful red carpet πŸ˜€ India is a country rich in culture and human resource. Be the blessing, you have always prayed for. India is right now in the middle of a huge war. Not the one fought with bombs, but the one fought in mind.. I am sure, people would kill each other to be here, 20 years from now πŸ™‚

  15. The basic problem is our aim generally are to Make Money not to Create Product which Change The Way People do something. I have many ideas in my mind. I am mobile Engineer so i need support from web to create any solution i tried to reach many of my freind to work with me. Initially they will be excited to listen ideas but after that as they are not going to get money immediately they do not take it seriously. I could not find person who have passion towards createing product. That is the biggest problem.

  16. Option 2: Start a business with 3 lakhs investment.

    I m ready to invest, just tell me the idea’s. I am an engineer, jobless, when i can put 10 lacs in engineering and cannot get any job or any type of profit from my degree up-til now , so what i think i could take one more step by expending this much amount of money.
    This article is very useful for us let me tell you specially guys like me who are going for abroad like U.K. degrees which no useful in India(as Indian gov. doesn’t except one year degree) nor we will find job there due to visa which we won’t get. And to be an honest with you all folks, like me there are not just one or hundred people out there but there are thousands in number who can invest this much amount.

    buddy the question is where should we invest that we feel secure??
    And in what business should we put this much money that it will rebate me??

    now we should have Idea haan??

    Well whats the idea then??
    We lack in it??
    My country and its people who are a champ in the whole world lacks in many things that may be because of less financial help by gov., may be laws, may be politician, apart from this ya in my country you have one benefit to have cheap labors though(this benefit employer may have )

    there are many people who just abandon their home with small amount of money, but my friend Dhirubhai ambani is one same way our success in business like millions in one due to lack of ideas and cooperation by government.

    so what i feel is education will lead us somewhere somehow, but expending so much of money u need ideas, innovation, creation, financial support, planning, strategy, spontaneous decision making and so on. if have these qualities its worth to risk.

    1. I like your enthusiasm and drive. But, the challenge is to come up with the idea. When you get idea from someone, you are not starting a business, you are basically working other someone.

      Did you watch the video above? You should come up with an idea and strive to make a business.

      1. very well said sir,

        “When you get idea from someone, you are not starting a business, you are basically working other someone”

        but sir in my views if u will get an idea from someone or from something like the video- is another source of developing ideas, and risk is less πŸ™‚ which is the main point for a business man who will do fresh start in business !!!

    2. Hi,

      You think in the way to make this world better then you will get many ideas. Read something. I have many ideas and i am working in Singapore now. My problem is i do not have much time and resource( Money, Partners) who can work with me. So we both are facing different kind of challange.

      1. Most of us thinks to do something better which indirectly would make world better. If i start with reading then it’s hard to tell that on what age
        will i get such an idea, may be 1 year may be 60 years. if you have an idea please free to share with me.

        1. Look you need to understand that life come with possibility and opportunity it do not come with Gurrany and Warranty. So when you start something do not worry about how much time it will take. I can share my ideas with you but i need to understand person first. Mark Zakarbug started Fb just for Fun so we should not start something to earn million we should start something to be useful to us and society. if you want you can contact me via link. You can click on my name and it will redirect to my FB.

          1. “The basic problem is our aim generally are to Make Money not to Create Product which Change The Way People do something.”

            I think this is ur point that u have mentioned above and still u are asking to me to be clear with my thoughts in sarcastic way, it is little syncing, well i will try to see the other path way…and in f.b there are more than 100 ‘kartik trivedi’ πŸ™

      2. for partner dont run a long way trust someone whom u understand frm u erly days ur school friend,ur family will be helpfull…a good business advice get new customers but dont even think a slight idea of losing ur old customers…an old customers mite hav helped u in way u never guessed….

    3. we never lacked in idea but r u asking the rite person for a sugesstion…its like asking a farmer a idea of trigonometric equation he will look at u like person gone bonkers……gather ur friends ur most trustworthy aide discuss with them grow a network of helping n taking help invest in a chain of helping others n by helping urself……u need not to be rich to enjoy life….however ur born u die n u will be cremated a way with common man…think wat everybody need not wat u need……

  17. People in India don’t have technical skills even though they have the money to start a company/business.India is a big zero when it comes to competencies in engineering/medicine.Indians can only develop, but not conceive.

    1. @OP,

      I do not think so, the problem is not with people in India, it is with the system that is present there. Indians are everywhere, in each and every company at really good positions and developing some really good stuff, if I were you, I would find out the facts before I say anything that is not true.
      For example, as for engineering, Mittal (the steel tycoon), the richest person in the Britain is an Indian and as for medicine the surgery was way ahead in India (refer: Sushruta, the father of modern surgery)
      As in most of the peoples’ case, it is the lack of opportunities, the corrupt government and lack of a platform to showcase their skills that is driving people with immense talent to go and settle else where, not because they do not have the technical skills

    2. i would be happy to tell you sir, India though being developing country yet stands with developed countries in order of technical/engineering/medical knowledge, and when Indians can afford for their expensive education then surely they don’t lack in money. But what is needed is creativity and innovative ideas which Indians have but feels risky to implement due to lack of support.

      1. support them,push ur brother ur friend to expose their ideas……be a true friend than just a friend………

    3. y cant india develop reasons
      -y all Software Engineers run after money in other country…u receive all formal education suddenly u need a degree of other place…if your mother is taking u to school everyday one day by a chance she is sick ur neighbor takes so frm dat day will u call her ur mom its happening world wide u ask for help, receive them n leave the person without even thanking them….a person heart once stung by bad thing cannot be changed,if u change ur surrounding will still despise you………..

      1. What is a person supposed to eat if he/she had no food at home? Won’t they eat out?

        If a country has most schools whose degrees are not recognized any differently from a piece of paper, what could you do?

        Do you have any clue how Indian degrees are recognized out of India? For engineering degrees, there are 2 categories of degrees from India, IITs or non-IITs, if you don’t do IIT, what choices do you have in terms of recognition.

        Leave that for a minute, if you wanted to do some research to make India a better country, how will you do that in India?

        1. good reply kudos to u man…certain things we hav certain we dont…..y dont we use less thing to create more………..thinking is a graet weapon it gave the idea of science and art of geology in old days…..

  18. Ahh… HSB just one question. No doubt this blog is great and highly informative and stuffs like dat,oh yeah it really is. But i have noticed dat dere z a certain tendancy to drag the bad things of INDIA?? M not saying they arent true coz i dont know,but dere are gud things also!! Recently a scientist named Mr. Ashok Sen got YURI MILNER award for is research in STRINGS THEORY and dere are countless oder great people (ARYABHATTA the hero in my opinion coz without him no 0s and probably no no idea of using 0s and 1s and hence no binary and no PC no internet and NO U AND ME CHATTING!!!). So please for god’s sake someday do post something nice about INDIA. US is great but then also dey do IMPORT INDIAN MINDS!! No offense,JUSTVTERRIBLY HURT!!!!!!!!

  19. Hi ..
    I am thinking of my own business for last 2-3 year.I want to do this.
    I have some money to invest and I am sure I can rise some fund.
    I am s/w engg ,I dont have any idea to start with ,and I am not surrounded with people or friend who willing to do so.
    Can any body will help me?


    1. Hi Priya,

      I am also software enginner working in Singapore. I would like to know your vision if we can discuss something. I have some ideas but first disucssing values and vision is more importatn i think. In URl you can get my facebook profile i think. Let me know if you need any other information.

  20. I don’t think its society or any other external factor which diminishes the appetite to take risk. Its the price you pay after failing. You wouldn’t get the same unemployment benefits as in other “entrepreneur friendly countries”. The same Indians with same parents and same family, same relatives turn bold once they reach safe havens for unemployed. India with more than a billion people with so less opportunities is like a horror movie even for the bravest when they think that stakes are highly skewed towards severe punishment if anything goes wrong with your risk.

      1. An entrepreneur should have imagination of an artist, brain of a business man, and hands of craftsman. If you don’t have all three qualities, which is mostly the case, team up with people who have the qualities you don’t, not with your friends.

        Most ventures in India, fail because one feels superior over others, in a team or do not accept others’ points of view.. Just because you seeded the idea, or realized it into a product, or funded/marketed the product, doesn’t make you hero.! Its team work.. You should treat each other with respect and accept them for what they are. Everyone is a winner at the end of the day, if you succeed. Also, the final goal should be to “Do good to people, Bring in a revolution” and “Not Just Make Money”..

        Another biggest challenge is, support from family. Somehow, parents do not like to hear the word “failure”.. Its just NOT ACCEPTABLE.. When you are trying something new, you cant be sure of success. And if you go against them, you are blacklisted for life.. πŸ˜€ Or worse, if you end up with a partner who values money more than passion, you are “doomed” to live “Karan Johar’s Movie”.. πŸ˜€

        In India, people are rated based on “Money”.. Being ambitious is limited to “getting promotions @ work”.. πŸ™‚ And “not having a stable job, being an entrepreneur”, is termed insanity.. It just means you were not good enough to land in a job, or you had a back or two left in college that you ended up working in a company where they don’t pay you” πŸ˜€

        Its high time people in Bollywood took a break from their opulent no-good Love plots and use their wit to do something more useful.. Somehow, parents seem to listen to people on silver screen, more than their own kids.. πŸ˜€ Media people can also cut down on number of accidents reported, add an entrepreneur in news everyday, bring people with ideas and money together etc..

  21. It’s not that every young Indian graduate don’t want to take the risk of starting a business. But there are various reasons behind not taking risk
    1. Society/College/School have never encouraged us for that. They always try to hypnotise people to work for some IT firm. We Indians are never taught or (in many cases) allowed to view the world and our life from a broader perspective. Never given time to try new things, people are always like *this will not work you are wasting time and money, go do a job in TCS/Infosys Blah Blah Blah*. And being a fresher most of the youngsters tend to do what there elders say. So basically there ideas and dreams are trashed by themselves only because of lack of self confidence and presence of blind confidence on their parents/elders/*so called experienced people*.
    2. Few people though go recognize the above problems and want start a business but the next problem is our own emotions. For a middle class Indian family, parents works there ass of to earn enough money to make sure their child get the best possible school/tution/College. And most of such children understand how much hardwaork there parents have gone threw to grow them up. So the child after passing out from college dreams of earning big and giving all the comfort to their parents during there old age.
    In such a scenario, that person even though want to go for entrepreneurship, will never take it. He would think that * MY Parents spent so much on me, and now that I am graduate I should not ask them for more money for business. Instead now its my tern to earn big bucks. That should be the result of my parents hard work and dedication towards me*

    So I think this are the main problems in India for not being business friendly

    1. That’s perfect explanation of scenario with Indian students, family and culture. Lets take a step back and see what students can do to drive entrepreneurship.

      When students have potential, they need exposure to variety of things. College doesn’t provide such opportunity. They are focused on getting IT companies for campus placements.

      Why can’t students explore how successful people have created companies. There are ton of opportunities to try business without much investment. Why not learn from them, connect with them and ask for help?

      Parents are working hard, but it doesn’t mean students can’t be waiting for something to happen? They can make things happen, take initiative. Work with group of friends, form am idea.

      Time and time again, I’m coming across so many folks who are making it big online without any business experience and investment.

      What do you think I can do here in HSB to encourage Entrepreneurship?

      1. HSB,

        I do not know if your reply to my comment (above) is sarcastic or you really mean it, either way, I wanted to add few points to the discussion here
        1. Emphasizing a bit more on Parth’s points, there is a huge culture difference (by culture difference, I mean the way of living and not other stuff) between the Indian Sub Continent and the West (that is where are most of the startups are).
        In India, Parents are responsible for most of the expenses of their kids (until they find a good job that pays them well) and it has been like this for generations, so one wouldn’t expect to take any sort of risks as they are bound by the responsibilities in the future (towards one’s parents and their own family).

        2. This scenario is changing, see the various Successful Startups that have been in India for a while now (Redbus, Flipkart, Snapdeal, Gharpay etc to name a few).
        Not only in startups, people who have shown interest in other uncommon areas (According to Indian Lifestyle over the past) like music or acting etc, they are forming their own bands, own groups and organizing performances and are trying to make it big.

          1. Yes Sir, I agree that it can be much better, but with a Nation that is just 66 years old compared to other Nations that have achieved Independence several hundred years ago, comparing them is not justified in my opinion, it would definitely take some time to get there.

          2. Nice post HSB! In total agreement with this survey!
            Btw, One joke i cracked with my friends today…

            My friend: Why USA has so many start ups that transformed into giant companies while india almost lacks in it?

            Me: well you see, if you observe, almost all giant companies began in the founder’s garage, right?

            My friend: yes, so?

            Me: well, indians doesnt have garages, we need one garage for each house and then see! ours will be the only nation where… Blah blah blah…
            My friend: Speechless!

            Conclusion: We have exceptional observation power, we love to copy things πŸ˜‰ we can deliver softwares as per customer’s demand, but we seriously lack in imagination-vision-innovationrisk-taking quotient, entrepreneural spirit!

  22. This post speaks a lot! More so because of how I can related it to my experiences!

    I had my business since my senior year in school. I failed a couple of times but still managed to work on a new strategy, a new platform. However, one thing I have noticed during my undergrad years is that the environment does have a lot of impact on you. I sold the entity in 3rd year, and now I’m surely regretting it.

    All these years, I owned the business because I didn’t need approval from others to own one. But now, things have possibly changed a lot primarily due to the society being against business. Earlier they didn’t oppose because they didn’t have to contribute, even financially. However, now I’m prepared to run a business even better, and have plans to do so again whenever I’d have gathered adequate resources to do so, in a few years. πŸ™‚

    Hopefully we’d be able to see a lot of startups in coming years. That’s the only way to develop. Biggest companies are not 1000’s years old, but they’ve been started by someone unknown years ago to be the one of the biggest now!

    You’ve got only one life to live, go out and take risks so you don’t regret later.

    1. People always assume that lot of investment is required to start a business. But, in reality, all big name companies were started with few driven people.

      1. You just need an idea! There are a lot, really a LOT of people willing to invest in startups. For us, it’s vital capital to run business. For the investors, it’s just another investment.

      2. Adding an aspect.

        Many of those companies were started by driven people in their garages but…

        There a few things that help you being a entrepreneur which we lack in India.
        — Social security infrastructure: Will the government help me buy atleast food if I mess up in my business? Will the local food pantry help me?
        — Ability to recover: What if I mess up? Can I do a small job to atleast feed myself. In the US, even a McD job will do that.
        — Ease of setting up a business
        — Credit mess: to me this is the biggest, I don’t want to do anything in India because if I messed up and can’t pay the card bills or other EMI’s, the freaking Indian bank rowdies will stop me over on the road and beat the crap out of me.

        I will never want to do business in India, my dad tried that, he was virtually a entrepreneur and our family business had a few things done first time in the region. I agree, it was not a software business, but when the whole ambitious plans fell on the floor, my dad was getting scary calls from the banks a few times a day for loans and offcourse some embarrassing situations happened. Final result, my dad killed himself.

        I will hate to have to do anything which may need me to borrow a single penny ever or risk even a penny of my own.

        1. I have read so many comments you have posted helping others and over 40,000 comments in the blog. But, this one hurts.

          Report from Gallup pretty much says the problems what you have listed in decent way. Sorry for your loss.

          1. It was probably pent up anger against the broken system.

            Think of it, violence is a part of life in India. Road rage, people beaten in police station, people beaten in mumbai, toll employees beaten, students beaten by some moral policing group in mangalore, bank employees (or hired rowdies) beating defaulters, mob beating the thieves. Add to this, in many cases beating to death.

            Most of the times people just think this is all absolutely fine. I have to say this won’t work.

          2. Vish is true. One of my relatives has ended up in a mental asylum and nw his wife and daughter are struggling to have lunch and dinner, her father is helping her. PATHETIC GOVT. OF INDIA

        2. I’m really sorry for your loss.

          Yes, things do (and will) go wrong. This is the sole risk factor, which has so many negative aspects. And besides, where one intends to do business is his own choice, and being certainly aware of the inflexible laws and dictatorial system in certain prospects, I won’t mention India.

          One of the important things I’ve learned is to invest only whatever you can afford to lose.

          1. Find me a single person who has a single penny which he/she can afford to lose.

            Take this scenario. Let’s say someone has some money has 10k INR and also has some property worth say 100k INR

            Now he starts a business and takes out a credit of 20k knowing that he has a backup, things don’t work out and he is stuck and need to pay his 20k loans. The EMI bounces, 2k in penalties. He is trying hard to sell the property but it takes time. If 2-3 months passby, the bank guys will be beating him on the streets mercilessly.

            India as a society needs to first stop violence to recover money, to teach people lessons, to prove supremacy etc etc.

            People can take the risk of money, but being beaten up on the road is just too much. Having people beaten up in a police station or by bank guys is not even considered a real crime. I have seen cases when the news is show on TV about someone being beaten by the bank and people thought it was fair. (This violence thing is one of the key reasons I don’t want to go back to India ever)

  23. Totally agree with you. Infact, I tried to convince people on the same but no one cared including my own friends & family. All they want is a secure middle class life. The problem is with the mindset of the entire society, solving the problem from its root is the only solution i.e. imparting these skills right from childhood and schools should play a major part in this. “Dream High Live High”

    1. Well said. Parents want their kids to have better life, but why settle down for a lifestyle that is within middle class?

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