63% bizmen see corruption as threat: survey

A new survey published by the Legatum Institute finds that business owners in China and India,feel that their country is welcoming of entrepreneurs.

Written by Agencies | New Delhi | Published:August 20, 2010 4:27 pm

A new survey published by the Legatum Institute finds that business owners in China and India share the following: economic optimism for the future; beliefs that their country is welcoming of entrepreneurs; and,to some extent,perceptions that the global financial crisis has hampered seriously the prospects for new business.

The report,which is one of the largest surveys of entrepreneurs in the world,provides a good understanding of what entrepreneurs themselves think about business,government and the economy. It is published in full by the Legatum Institute on their website

Key findings of the report are:

*62% of respondents in China think China will be the biggest economic power in 20 years,and 48% in India think India will.

*Large majorities in both countries – 81% in China and 65% in India – believe they and their fellow citizens are more naturally entrepreneurial than other societies.

*A majority in both countries believe their lives will be significantly better in 5 years.

*Entrepreneurs in China are more likely to start a business to make more money,whereas Indian entrepreneurs are more likely to start a business for the independence it provides.

*Business owners in both countries place a greater value on improving the quality of life in their communities than senior managers who run companies they do not own.

*The biggest factor driving Indian entrepreneurs to start a business knows another entrepreneur (27%),while in China it’s what one learned at the university or in school (23 %).

*63% of Indian entrepreneurs see corruption as a serious threat to business,compared to 53% in China. 46% in India say it is getting much worse,compared to 38% in China.

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