For those looking to enter the field of entrepreneurship in Australia, maybe start a marquee hire in Sydney business? Global Entrepreneurship Monitor may have some bad news for you.
According to a survey recently held by the GEM, a global entrepreneurship consortium, found that Australia did not find entrepreneurship as a viable industry to set up a career around, ranking a fairlow low 46th on the global list on GEM’s survey, which was aimed to measuring the perception of the world towards the field as a career choice. The GEM survey is part of its over 18 years of tracking entrepreneurship, both participation and reception throughout the globe. The survey does have its limitations, as with all studies.
Out of the survey’s Australian sample respondent population, only 54 considered starting their own business as a good career choice, which is low when compared to countries such as the Netherlands (78%), Canada (66%), and the US (64%). This means that the country lags behind in its perceptions regarding entrepreneurship.
Since the attitude of the community can determine a lot for entrepreneurs, with reception from the community encouraging or discouraging potential entrepreneurs. Entrepreneurship is a culture-based field, reliant on things such as role models, examples, community acceptance and the like in order to fully function and thrive. One of Australia’s leading researchers in the field, La Trobe Business School’s Professor Alex Maritz even stated such outright. The professor also pointed out that entrepreneurship could be a viable asset for the country, but in order for that to be realized, the country must embrace the field in their culture. Even if such embrace are just small yet meaningful means and acts of support towards entrepreneurship.
In either case, the noted main problem is that the country doesn’t particularly have high regard for local entrepreneurs. This isn’t a very good sign, seeing as entrepreneurship is heavily influenced by the attitudes, outlook and ambition of entrepreneurs, both current and those that have yet to come. In order for a marquee hire in Sydney business to seem like a good venture, entrepreneurial ventures much like it should appear as profitable and worthwhile.