Future of Work is in Startups says GoDaddy Survey

The rising tide of Entrepreneurship

A global survey was conducted by GoDaddy in collaboration Morar Consulting this year. It was a global survey in which 7,291 professionals participated from countries like Australia, Brazil, Canada, China, Hong Kong, India, Mexico, Singapore, Turkey, the United Kingdom and the United States. The main motto of this survey is to examine different generation views of entrepreneurship and coming future of work.

Who all they surveyed?

2,399 Millennials, individual who are aged around 18-30 years old
2, 435 Gen Xers, coined term for people who are around 31- 50 years old.
2,189 Baby Boomers who are around 51-70 years old.
4,537 Future entrepreneurs and 2,474 small business owners
3,805 Male and 3,218 Female

Here’s what they found out.

There are more than 400 million small business, startups and independent ventures around all over the world and we have witnessed most of these startups have grown in cities like Beijing, Bangalore and Brasilia. The research conducted over all these 7, 291 people out of 36% professional are planning to open up either small business to be self-employed in the coming next 10 years and out of this 45 % want this new venture as their secondary job or as moonlight job.

What’s the thirst behind this drive?

The force compelling these people to start their own venture is Flexibility (41%), money (17%) and not to fret about corporate layoffs says another 17%.

Global Customers: 53% of Entrepreneurs want their business to have global customers.

Who are actually the Role Models for these upcoming Entrepreneurs?

When asked these people who they look up to as their role models

39% says parents are best role models
27% said Mark Zuckerberg out of these
22% look up to small business owner.
1% even looks up to Kim Kardashian.
Millennial:40% vouched for Mr. Zuckerberg and other 30% for Mom and Dad.
Gen X:21% for Zuckerberg vs 39% for Mom and Dad
Baby Boomers:24% for Zuckerberg vs 41% for Mom and Dad

What does Indian have say in this?

From India 1,200 people were also surveyed on behalf of this and here’s what we got from them

70% of Indians want to start their own business even if they are working, after graduation or in college itself.
45% thinks it’s necessary to have work experience for being an entrepreneur
12% thinks education is also necessary
67% said upcoming technologies have led to newer opportunities
72% think online media plays a big role for gaining customers.
62% Indian entrepreneur want their business to expand globally.

With Bangalore being the innovation hub in India and the trend of startup exponentially rising, Do you think such change in culture will cascade entrepreneurship at remote levels? Leave your thoughts in our comment section below

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