The report said, “More than 60% of the Indian population possesses personality traits that are crucial for success as an entrepreneur - such as business thinking (69%), optimism (66%), and persistence (65%) - which suggests a wealth of entrepreneurial capacity. However, willingness to take the risk of running a business is not a common trait among a majority of Indians.”

Reliable support from honest and efficient government institutions is essential

According to the poll, around 46 percent of Indians say the government is the biggest hindrance in starting a business.  More than seventy percent believed corruption is widespread in the government.  More than sixty percent agreed that corruption is widespread in business. This view was particularly high among current business owners (72 percent) and those planning to start a business in the next 12 months (80 percent).

Entrepreneurs need more diversified, localized funding at the initial stage

The most helpful factor in becoming an entrepreneur in India is access to financial support. The study said, “The key problem for entrepreneurs seems to be less about the availability of funding and more about finding the right type of funding.