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The global level of entrepreneurial energy

The global level of entrepreneurial energy

entrepreneurship Bloomberg Businessweek reports that U.S. business students are behind on entrepreneurial determination. Louis Lavelle, associate editor, writes that although US business students are typically known to be entrepreneurial, a recent study conducted by Universum may just prove otherwise (Lavelle 2013).

Lavelle makes reference to Universum’s survey, from which 135,000 business majors in 23 countries where asked a question on their post-graduation plans. He points out that only 7.24% of U.S. business students want to start their own business and that 3.38% want to join a startup. Combined the figure is 10.62%.

On an international level, the U.S. ranks 16th out of 23 countries, when combining the percentage of students that plan to join a startup with those that wish to create a company. At the top of the list are India (25.57%), the UK (19.64%) and Mexico (18.79%).On the bottom of the list are China (8.05%), Japan (7.85%) and Austria (7.47%). The full list appears in the Businessweek article.

Petter Nylander, Universum’s CEO, gives three reasons to explain the US ranking. Firstly, work-life balance is an important career goal for business undergrads, more so than for students in other countries. Secondly, generation Y is strongly influenced by the so-called helicopter parents who encourage their children to choose job security over risk-taking endeavors. Thirdly, the well-established graduate recruitment market in the U.S., compared to other countries, encourages students to first develop a career — and gain invaluable work experience — before starting their own business venture.

Reference

Lavell, Louis (2013). Study: U.S. Business Students Lag Others in Entrepreneurial Spirit. Bloomberg Businessweek. [Online] Available from:  http://www.businessweek.com/articles/2013-08-15/study-u-dot-s-dot-business-students-lag-others-in-entrepreneurial-spirit [Accessed: 19 August 2013].