Monday, 26 April 2021 13:24

Australia and New Zealand leading APAC in entrepreneurial spirit and confidence, study finds

By

A new study found that Australian and New Zealand entrepreneurs are “feeling confident about their businesses” despite the threats imposed by the COVID-19 pandemic, and stressed the difference between why Australian and New Zealand entrepreneurs start their business, and regards technology as key to success.

Entrepreneurs in Australia and New Zealand (ANZ) emerged last year “feeling confident about their businesses”, a new study conducted by Frost & Sullivan and Oracle NetSuite revealed.

The study surveyed 233 entrepreneurs in ANZ, and almost 300 entrepreneurs across six other APAC economies, and examined their attitudes, beliefs, and aspirations following the COVID-19 pandemic.

The study found “Australian entrepreneurs have a number of key differences to their peers in other economies, as they are starting businesses later in life, are more likely to be serial entrepreneurs, and are more motivated by a better work-life balance.”



The study pointed that APAC entrepreneurs regard “technology as an important factor in their business success.”

Mark Dougan, Frost & Sullivan director, said “the results show we can feel confident about the state of entrepreneurship in the Asia-Pacific region.”

“Entrepreneurship is a lifelong journey of learning, and following the uncertainties of last year, the most important lesson learned is having a flexible business model”, he added.

“Most entrepreneurs feel they have managed to respond well and feel confident in their own success, as well as in the growth and future success of their businesses”, he explained.

ANZ entrepreneurs are confident about their next stage of growth

Entrepreneurs in ANZ are more confident about their businesses than their peers in other APAC markets.

• Australian and New Zealand entrepreneurs emerged from the last year feeling confident about their businesses and next stage of growth (83% and 75% respectively).

• The study disclosed “entrepreneurs in China (98%) were the most positive, followed by India (87%), while Japan were the least confident (67%).”

Entrepreneurs from ANZ are not your typical APAC entrepreneur

Australian entrepreneurs are starting businesses later in life, while entrepreneurs from ANZ are more likely to start multiple businesses.

61% of Australian entrepreneurs were 35 or older when they started their business, compared to nearly half being under 35 across APAC.

ANZ entrepreneurs are more likely to be serial entrepreneurs than their peers in other APAC countries, with 63 percent starting three of more businesses.

Entrepreneurs in ANZ start businesses for very different reasons

Australians turned to “entrepreneurship to gain control and flexibility, while entrepreneurs in New Zealand started businesses to earn money for themselves and their families.”

• 37% of Australian entrepreneurs said the biggest driver to becoming an entrepreneur was a better work-life balance or the opportunity to be their own boss.

• 36% of New Zealand entrepreneurs said the biggest driver to becoming an entrepreneur was to make money for themselves and their families.

Entrepreneurs across APAC agree: Technology is key to success

Entrepreneurs across the region regard “technology an important factor in their business success.”

Australian (58%) and New Zealand (66%) entrepreneurs ranked “their core business software as important or very important for business success.”

The study highlighted “57% of entrepreneurs are now using SaaS for most or all of their key business applications.”

Following last year, 52% of entrepreneurs across the region “are planning to make investments and improvements in their core business software.”

Jason Toshack, General Manager, Oracle NetSuite ANZ, declared: “Entrepreneurs are the engine-room of the business eco-system and are vital for a healthy economy here in Australia, New Zealand and across APAC.”

Toshack said they found “Australian entrepreneurs are encouragingly posivtive, not only for their grit and determination, but also the tools and software they now have to manage their businesses and adapt to change.”

“2020 dealt a challenging set of cards, but with Australia leading in serial entrepreneurship, female entrepreneurship, and most importantly showing confidence, there’s a feeling that anything is now possible”, he concluded.


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Kenn Anthony Mendoza

Kenn Anthony Mendoza is the newest member of the iTWire team. Kenn is also a contributing writer for South China Morning Post Style, and has written stories on Korean entertainment, Asian and European royalty, Millionaires and Billionaires, and LGBTQIA+ issues. He has been published in Philippine newspapers, magazines, and online sites: Tatler PhilippinesManila BulletinCNN Philippines LifePhilippine StarManila Times, and The Daily Tribune. Kenn now covers all aspects of technology news for iTWire.com.

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments