Research: Half of the Country’s Population Want their Children to Become Entrepreneurs

48% of Lithuanians wish their children a career in entrepreneurship; yet, the same people associate entrepreneurship with risk, innovation and hard work, show the results of a representative population survey carried out by “Spinter Research” on behalf of the Lithuanian Free Market Institute.

Reportedly, one in three Lithuanians or 36% of the respondents wants to start their own business; these are mainly young people under 25 with higher education and income.

“One’s own business to most people firstly associates with self-realization and a desire to take their lives into their own hands, which is especially characteristic of young people. Young adults are not afraid of risks or becoming ‘stranded in shallows’. Only those older people that have already gotten their feet wet are willing to start their own business: such people are well educated, have advanced career and relatively higher income. They do not romanticize the idea of a private enterprise and understand that their unrealized ideas, accumulated experience, savings and wide circle of friends and acquaintances is what allows them to undertake entrepreneurship and firmly grasp the rudder of their lives in their own hands”, – comments Ignas Zokas, sociologist.

When asked what the respondents associate with entrepreneurs, 53% of them mentioned risk, 51%  – resourcefulness and innovation, 48% – hard work, and 42% – creativity. To compare, in 2012 Lithuanians mostly associated entrepreneurs with a position in society and hard work.

“The results demonstrate somewhat of a growth of the populace. People have come to better understand how economics work and what the primary source of economic well-being is. This means that a majority of people realise that their own well-being comes not from generosity of the authorities or benefits but from their individual initiative, creativity and economic activities. This is why it is very crucial that the government does not crush this view and instead creates the necessary conditions for it to grow and ensures favourable circumstances for economic activities and autonomy of the people”, – says Žilvinas Šilėnas, President of LFMI.

Much like five years ago, the populace considers creation of jobs the main function of entrepreneurs in society. This is thought by 55% of the respondents. A little less – 48% of the respondents – believe that the main purpose of entrepreneurs is to produce goods and services, 42% think that it is to make profit and as much as one third of all people mentioned paying taxes as one of the main purposes.

“Spinter Research”, a market and public opinion research company, carried out the present public opinion research on 17-24 February 2017. A total of 1011 respondents aged 18 to 75 were surveyed. The aim of the study was to find out how the populace views entrepreneurs.