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.
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].