Get All Access for $5/mo

More Than Half of Adults Think They Have What It Takes to Start Their Own Business A new report examines how people view entrepreneurship around the world.

By Nina Zipkin

Veronika Sulinská | StockSnap

Are you confident you have what it takes to be an entrepreneur?

You aren't the only one.

More than half of working-age adults believe they have the ability to start their own company, according to a new report from the Global Entrepreneurship Monitor, which surveyed people working in 60 countries around the world. What's more, 21 percent of those polled said they intend to start a business within the next three years, 66 percent think entrepreneurship is a solid career move and 68 percent say that they view business owners as having a "high status" in society.

Related: Why Single Women Are Quicker to Jump Into Entrepreneurship

Of the respondents who are already business owners and live in highly-developed economies, 78 percent said they choose to launch their ventures because they saw opportunities, not because they were forced to by economic necessity. For entrepreneurs living in less-developed economies, 69 percent reported the same.

"It is often a misperception that most entrepreneurs in less-developed economies are necessity-motivated," Donna Kelley, a professor of entrepreneurship at Babson College and the report's lead author, said in a statement. "The reality is that entrepreneurial opportunities of all types exist in every part of the world, and there are ambitious entrepreneurs everywhere with the aspirations to pursue them."

Related: Becoming an Entrepreneur Might Not Be as Risky As You Thought

The report found people at the beginning and middle of their careers, aged 25 to 35 and 35 to 44, have the highest participation rates when it comes to entrepreneurship. The average total entrepreneurial activity among women was highest in less-developed economies, which often heavily rely on agriculture and natural resources. In Indonesia, Malaysia, Peru, Philippines, Vietnam and Thailand, women had "equal or higher entrepreneurship rates than men."

The United States, meanwhile, fell in the middle of the pack in terms of gender parity in entrepreneurship rates, ranking 31 out of the 60 countries that were surveyed.

Related: The 5 Characteristics of True Entrepreneurs

Nina Zipkin

Entrepreneur Staff

Staff Writer. Covers leadership, media, technology and culture.

Nina Zipkin is a staff writer at Entrepreneur.com. She frequently covers leadership, media, tech, startups, culture and workplace trends.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.

Business News

Homeowners in These 10 States Pay the Most in 'Hidden' Upkeep Costs

Hidden home costs pile on top of mortgage payments.

Growing a Business

5 Books to Help You Motivate, Unify and Build Perspective

In a post-Covid world, check out these must-read books to help build a more resilient organization, create a modern work culture and maintain a powerful growth mindset.

Money & Finance

Avoid These 10 Mistakes Entrepreneurs Make with Money

Despite the challenging statistic that only 5% of startups survive beyond five years, common financial pitfalls often contribute to their failure. Through personal observation, I've identified the prevalent financial mistakes made by entrepreneurs.

Growing a Business

How Visionary Leaders Transform Curiosity Into Groundbreaking Ideas

Lee Brian Schrager, founder of the South Beach Wine & Food Festival, discusses the spark that launched FoodieCon, his best practices for running popular food events, and why all business owners need to adapt to social media trends.

Making a Change

Learn All of Rosetta Stone's Languages for $152

A lifetime subscription is nearly $250 off for a limited time.