Johannesburg – It is encouraging to note that 78% of women in the country remain positive about entrepreneurship. This insight was shared in the Amway Global Entrepreneurship Report (AGER) in November that for the first time included South Africa. The report fosters global discussion on entrepreneurship and raises awareness of the significant role entrepreneurs play in modern economies.
With 43,902 men and women aged 14-99 surveyed across 38 markets, the report provides a deeper understanding of what motivates entrepreneurs.
Following local attention being placed on SMME development and support, expressed in both the South African State of the Nation address and the 2015 Budget Speech in February, it is clear that the the countries growth is dependent on the growth and sustainability of entrepreneurs.
Women in business play a critical role in the economy, according to Raj Parshotam, General Manager for Amway in Southern Africa. He went on to point out that in AGER over 73% of women believe that South Africa provides a ‘friendly’ environment for entrepreneurs to thrive, with a further 70% of respondents agreeing that entrepreneurship can be taught.
Parshotam added by saying that this positive outlook on owning your own business mirrors the Amway business locally, where 80% of business owners are in fact women. He continued by saying that the report highlighted that 34% of the women asked believed learning leadership and management skills was critical to their success.
This compared to 37% of men believing that basic business skills, for example financial control, marketing or computer applications, were more important to focus on as a skill for business owners.
Encouraging to see as International Women’s month dawns, is the shift towards a more balanced split of female vs. male entrepreneurs. The AGER highlights that 45% of women are likely to start up their own business, while 53% of men are more likely, a 10% difference. In the future these figures may well change as women start to see the real benefits of being their own boss. Respondents agreed that entrepreneurship meant freedom for them, with 31% noting that they had a better work life balance and 37% agreeing that self-fulfilment was a possibility.
Parshotam concluded by saying, “This year’s report offered even further encouragement with the younger generation’s optimism for becoming business owners. With this insight in mind, it is important for the business sector to help foster the spirit of entrepreneurship among young women that will become the future business leaders of our country.”
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About the AGER
The 2014 AGER was conducted by Amway, in partnership with the Chair of Strategy and Organisation of the School of Management, TUM in Munich, Germany. Fieldwork was completed by the Gesellschaft fuer Konsumforschung (GfK) Nuremberg from April through July 2014. Results are shared with the academic community, including the 38 AGER academic advisors and all interested think tanks, academic and public institutions. Please visit AmwayEntrepreneurshipReport.com for more information.
Amway is one of the leading family-owned consumer goods companies worldwide, selling more than 400 high quality products in the categories beauty, wellness and home care exclusively through independent distributors to the end consumer. The company was founded in 1959 in Ada, United States and operates in more than 100 countries and territories generating revenue of 10.8 billion USD in 2014.
Amway’s top selling brands are Nutrilite™ vitamin, mineral and dietary supplements, Artistry™ skincare and colour cosmetics, and eSpring™ water treatment systems.
For company news, visit www.amway.co.za
Amway South Africa FleishmanHillard
Corporate Affairs Trevor Chueu
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