: EDII leads the largest study on entrepreneurial dynamics #FinanceIndia #StockMarketNEWS EDII leads the largest study on entrepreneurial dynamics Ahmedabad, Dec 24 (KNN) The Global Entrepreneurship

@StockMarketNEWS Tue 28 Dec, 2021

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EDII leads the largest study on entrepreneurial dynamics #FinanceIndia #StockMarketNEWS
EDII leads the largest study on entrepreneurial dynamics Ahmedabad, Dec 24 (KNN) The Global Entrepreneurship Monitor (GEM) Survey is the largest annual study of entrepreneurial dynamics in the world. Entrepreneurship Development Institute of India (EDII), Ahmedabad leads the GEM India Survey with Dr. Sunil Shukla, Director General, EDII as the National Team Leader and the Lead Author of the Report.

The GEM India 2020-21 report which was released recently, explains the key aspects of entrepreneurship among Indians by measuring their attitudes, activities and aspirations. The findings of the report provide the policy makers a foundation for reviewing the current and prospective policies. The major findings and recommendations for policy making are appropriately highlighted. The report has used a sample survey of 3,317 adults and national Level Experts.

The nationwide survey on entrepreneurial dynamics carried out by the Entrepreneurship Development Institute of India (EDII) provides that 82 per cent of the population believes that there is a good opportunity to start a business in their area despite the hardships caused by the COVID-19 pandemic.

The Global Entrepreneurship Monitor (GEM) Report 2020-21 also provides that 82 per cent of youngsters believe that they have the required skills and knowledge to start a business. Out of 47 economies, India ranks 3rd for perceived opportunities.

The report also provides insights into the impact of the pandemic on the entrepreneurial ecosystem in the country. It provides that the fear of failure among youth has increased by 1 per cent, i. e. from 56 % in 2019-20 to 57 per cent in 2020-21. It also suggests that entrepreneurial intentions have declined from 33. 3 per cent in 2019-20 to 20. 31 per cent in 2020-21.

Similarly, total early-stage entrepreneurial activity (TEA) was also severely affected due to the pandemic and declined to 5. 34 per cent in 2020-21 compared to 15 per cent in the previous year. Notably, TEA is the total percentage of individuals in the 18-64 age group who are either nascent entrepreneurs or owners/managers of new businesses.

Also, the findings reveal that pandemic has negatively impacted total entrepreneurial activities in the country. However, it is more severe in the case of young women. Female entrepreneurial activities declined by 79 per cent, whereas male entrepreneurial activities declined by 53 per cent. The report also indicates that the pandemic had a negative impact on household income. In India, about 44 per cent of youth were of the view that the pandemic affected their household income.

The report also provides some key policy suggestions that would sustain and promote the entrepreneurial ecosystem in the country.