Press about RVC

Test: More Than 80% of Russians are Positive about the Idea of Working for Themselves

Source: TASS

Russian Venture Company (RVC) and the Institute for National Projects research and consulting center conducted a study according to which 83% of Russians are positive about entrepreneurship, and more than half of those surveyed would advise children to start their own business. The press service of the company informed about it on Friday.

The survey involved eight thousand Russians from different regions of Russia. Its results were also discussed with experts and tested on focus groups. The study aimed to assess the influence of socio-cultural characteristics of Russians on the innovative potential of the country, including the prospects for the implementation of the National Technological Initiative, whose project office is RVC.

“RVC and the Institute of National Projects present the results of the study “Sociocultural Factors of Innovative Activity of the Population”. According to the results, 83% of Russians believe that entrepreneurship is a good career choice, and 63% would advise their child to develop his own business rather than work for hire. In addition, the study showed that for the development of entrepreneurship, it is essential to form a “tolerance for failure” in society, which will allow reconciling with a possible failure and launching a new project that can bring success,” the report said.

At the same time, the respondents believed that others were less positive about entrepreneurs than themselves — only 66% agreed that Russian residents were positive about entrepreneurs. The authors of the survey also identified the essential qualities that people endowed with their business owners.

“They are mostly positive. The three most common answers are “smart”, “purposeful”, “honest”. Only 5% of respondents used at least one word with a negative connotation when describing an entrepreneur,” the RVC press service also said.

About 30% of respondents said that they were planning to open a new business in the following three years. Researchers suggest that Russians take the idea of working for themselves positively for the reason that the income from this method of earning depends mainly on their efforts, and there is no risk of dismissal. At the same time, in the minds of most people, entrepreneurship is associated with wealth and independence.

Business Restrictions

The study also identified the main limitations that, according to respondents, prevent them from starting their own business; 74% called the deficit of financial resources a barrier, 65% — complicated administrative procedures, 63% — the lack of knowledge and skills. More than half of the survey participants (54%) believe that they should not start their own business if there is a risk of failure.

“For comparison, in the US, this figure is only 28%. The study makes assumptions about the possibilities of overcoming such barriers with the help of educational and ecosystem work,” RVC reports.

It is traditionally believed that well-off and well-educated residents of large cities possess the highest potential for a successful business, including innovation. According to the study, it is educated youth aged 18–30 who live in large cities that demonstrate psychological attitudes that are useful in their work. Thus, 86% of Russian residents aged 18–30 believe that new situations should not be avoided; 92% of them believe that entrepreneurship is the right career choice.

“The RVC strategy recorded the main gaps in the development of Russian and foreign venture capital markets. One of these gaps is the differences in the socio-cultural environment, which includes such fundamental principles as, for example, tolerance for failures and the level of social approval of the entrepreneurial activity. Work on bridging such sociocultural gaps is an important task for any development institution interested in expanding the funnel of technological projects in Russia,” Mikhail Antonov, the General Director of RVC Innovation Infrastructure Development Director, quoted in the message.

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