Entrepreneurship is vital to the Chinese and Indian economies, just as it is with the economies of the United States, UK, Germany, or indeed any of the other leading global powers. Yet while many recognise the valuable work of entrepreneurs in the economy and society at large, little is known about what entrepreneurs actually think. What excites them? Who inspires them? Who do they turn to when they need advice? Two surveys published today by the Legatum Institute shed light on these and many other questions, with both aiming to get ‘inside’ the minds of the entrepreneurial class in two of the world’s most exciting, dynamic, and fastest growing economies in the world.
Optimism
The surveys find that both Indian and Chinese entrepreneurs are full of optimism about the future trajectory of their respective countries. In India, 60 percent of respondents stated they believed their country was headed in the ‘right direction’ (although this was down from 84 percent in 2009), while in China this figure was even higher at 75 percent. In addition, 81 percent of entrepreneurs in both countries said they believed that their country will be a stronger economic power in the next five years. Interestingly, given the current economic conditions, a notable finding among Chinese entrepreneurs was that 64 percent expect their own businesses to grow by 10 percent or more over the next year.
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