Survey reveals entrepreneurship is on the rise

A survey of New Zealand business professionals reveals 82% think entrepreneurship has risen in the past five years.

Regus released the results of a worldwide survey that canvassed the views of more than 19,000 senior business executives.

It showed the best way to foster innovative entrepreneurs in business, revealing that mixing staff from different functions and having access to senior managers were perceived as the best ways to accomplish this.  

The survey outlines sectors identified as holding the highest potential for new business ideas.

IT systems and software topped the list and 75% of business professionals surveyed thought this was the sector with the richest potential.

Talent International managing director Richard Earl says entrepreneurship is essential to the health of any economy.

There has been tremendous growth in the technology sector and it now contributes a significant proportion to New Zealand’s GDP, he says.

“It’s the vital lifeblood of any economy; new companies tend to be launched by entrepreneurs who are risk-takers, get things moving and create employment.”

BusinessNZ chief executive Phill O’Reilly has welcomed the findings.

“The research relates to entrepreneurship inside firms, now that’s very good and that’s just one part of entrepreneurship," he says.

“There has definitely been an increase in understanding the importance of entrepreneurship and innovation inside firms and there has also been an increase in confidence about putting it into action.”

Mr O’Reilly says he can only see this area of business expanding over the next few years and adds he does not see an end to the rapid increase.

Despite the massive increase in entrepreneurship, there is a perceived to be a lack of growth when it comes to women in entrepreneurial roles. 

The research revealed only 7% of respondents believed there has been an improvement in this area.

Regus NZ country manager Nick Bradshaw says there is a long road ahead to change this.

“This research shows that business perception is that entrepreneurialism is high and growing in New Zealand but low among females. Whether that’s accurate or not is arguable, however it shows what businesses think.

“Businesses should be promoting all types of entrepreneurialism, particularly among women, in order to help turn things around and to foster innovation."

Jason Walls is an AUT journalism student