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DEFINING THE ENTREPRENEURIAL SPIRIT AGER2015 Latvia

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DEFINING THE ENTREPRENEURIAL SPIRIT

AGER2015

Latvia

Amway Global Entrepreneurship Report

#AGER2015 2

SURVEY DESIGN

• Edition 6th edition

• Partner Chair of Strategy and Organization of the School of Management,

Technische Universität München in Munich, Germany.

• Fieldwork May to August 2015

• Sample 49.775 respondents – 25,814 women, and 23,961 men aged 14-99

• Countries 44

Australia, Austria, Belgium, Brazil, Bulgaria, Canada, China, Colombia, Croatia, Czech Republic, Denmark,

Estonia, Finland, France, Germany, Great Britain, Greece, Hungary, India, Ireland, Italy, Japan, Korea, Latvia,

Lithuania, Malaysia, Mexico, Netherlands, Norway, Poland, Portugal, Romania, Russia, Slovakia, Slovenia,

South Africa, Spain, Sweden, Switzerland, Thailand, Turkey, Ukraine, USA, Vietnam

In China, Colombia, India, Mexico, and South Africa, Thailand, and Vietnam only people in metropolitan

areas participated.

• Method Face-to-face / telephone interviews

• Institute GfK Nuremberg, Germany

Attitude and Potential QUESTION 1

Amway Global Entrepreneurship Report

#AGER2015 4

QUESTION 1: HOW DO YOU SEE ENTREPRENEURSHIP?

OF LATVIAN RESPONDENTS HAVE A

POSITIVE ATTITUDE TOWARDS

ENTREPRENEURSHIP

83 % • Entrepreneurial attitude: 83% of Latvian respondents have a positive

attitude towards entrepreneurship while only 15%

show a negative attitude.

Latvian respondents show a much more positive

attitude than the global (75%) and European

(72%) averages.

• Attitude by gender: Female respondents (85%) show a little more

positive attitude towards entrepreneurship than

male respondents (80%).

Global average: men 76%, women 74%.

• Attitude by age groups: Latvians are slightly less positive with increasing

age.

• Under 35 years: 87%

• 35 to 49 years: 83%

• Over 50 years: 80%

Amway Global Entrepreneurship Report

#AGER2015 5

QUESTION 1: HOW DO YOU SEE ENTREPRENEURSHIP?

OF LATVIAN RESPONDENTS CAN

IMAGINE STARTING A BUSINESS

51 % • Entrepreneurial potential: Entrepreneurial potential in Latvia is on a

high level: 51% of Latvian respondents can

imagine starting his or her own business.

Latvian respondents are much more likely to

start up their own business than the

international average (43%). European

respondents show a much lower

entrepreneurial potential than Latvian (38%).

• Potential by gender: Men (57%) are more willing to start a

business (female: 45%). Global average: men

47%, women 38%.

• Potential by age groups: Respondents under 35 years show highest

entrepreneurial potential (under 35 years:

62%; from 35 and 49 years: 57%; over 50

years: 37%).

Amway Global Entrepreneurship Report

#AGER2015 6

QUESTION 1: HOW DO YOU SEE ENTREPRENEURSHIP?

Entrepreneurial gap Entrepreneurial gap = Total of respondents

answering „I can imagine to start up my own

business“ minus total of respondents

answering „I am self-employed“

40% MY ATTITUDE TOWARDS ENTREPRENEURSHIP IS...

...POSITIVE

...NEGATIVE

83%

15%

Amway Global Entrepreneurship Report

#AGER2015 7

QUESTION 1: HOW DO YOU SEE ENTREPRENEURSHIP?

A SELECTION OF BALTIC AND CEE COUNTRIES

Positive

I can imagine

starting my own

business

Negative

I cannot imagine

starting my own

business

Don’t know Self-employed

Bulgaria 54% 24% 35% 65% 11% 8%

Croatia 61% 25% 30% 66% 9% 3%

Czech Republic 66% 37% 29% 58% 5% 7%

Estonia 91% 47% 8% 52% 1% 10%

Hungary 61% 35% 33% 59% 6% 2% Latvia 83% 51% 15% 47% 2% 11% Lithuania 83% 48% 15% 50% 2% 13% Poland 71% 38% 22% 55% 7% 5% Romania 54% 26% 33% 61% 13% 5% Slovakia 55% 33% 39% 61% 6% 6% Slovenia 83% 45% 16% 54% 1% 6%

Baltics & CEE 69% 37% 25% 57% 6% 7% Global 75% 43% 21% 53% 4% 10%

Amway Global Entrepreneurship Report

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QUESTION 1: HOW DO YOU SEE ENTREPRENEURSHIP?

Positive

I can imagine

starting my own

business

Negative

I cannot imagine

starting my own

business

Don’t know Self-employed

Australia 85% 44% 11% 52% 4% 12%

Austria 51% 29% 44% 66% 5% 5%

Belgium 73% 33% 24% 64% 3% 5%

Brazil 85% 58% 14% 41% 1% 24%

Bulgaria 54% 24% 35% 65% 11% 8%

Canada 86% 43% 12% 55% 2% 14%

China 91% 62% 9% 38% 0% 4%

Colombia 90% 77% 9% 22% 1% 27%

Croatia 61% 25% 30% 66% 9% 3%

Czech Republic 66% 37% 29% 58% 5% 7%

Denmark 96% 45% 2% 53% 2% 7%

Estonia 91% 47% 8% 52% 1% 10%

Finland 89% 43% 10% 56% 1% 6%

France 77% 36% 20% 61% 3% 8%

Germany 60% 25% 37% 72% 3% 5%

Global 75% 43% 21% 53% 4% 10%

Amway Global Entrepreneurship Report

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QUESTION 1: HOW DO YOU SEE ENTREPRENEURSHIP?

Positive

I can imagine

starting my own

business

Negative

I cannot imagine

starting my own

business

Don’t know Self-employed

Great Britain 84% 41% 13% 56% 3% 8%

Greece 69% 52% 30% 47% 1% 29%

Hungary 61% 35% 33% 59% 6% 2%

India 70% 52% 28% 46% 2% 17%

Ireland 68% 37% 18% 49% 14% 7%

Italy 73% 42% 27% 58% 0% 12%

Japan 63% 13% 35% 85% 2% 14%

Korea 66% 48% 22% 40% 12% 14%

Latvia 83% 51% 15% 47% 2% 11%

Lithuania 83% 48% 15% 50% 2% 13%

Malaysia 76% 48% 22% 50% 2% 4%

Mexico 90% 81% 8% 17% 2% 15%

Netherlands 84% 40% 15% 59% 1% 8%

Norway 94% 33% 3% 64% 3% 7%

Poland 71% 38% 22% 55% 7% 5%

Global 75% 43% 21% 53% 4% 10%

Amway Global Entrepreneurship Report

#AGER2015 10

QUESTION 1: HOW DO YOU SEE ENTREPRENEURSHIP?

Positive

I can imagine

starting my own

business

Negative

I cannot imagine

starting my own

business

Don’t know Self-employed

Portugal 57% 39% 43% 61% 0% 8%

Romania 54% 26% 33% 61% 13% 5%

Russia 71% 37% 18% 52% 11% 5%

Slovakia 55% 33% 39% 61% 6% 6%

Slovenia 83% 45% 16% 54% 1% 6%

South Africa 79% 53% 14% 40% 7% 9%

Spain 69% 37% 31% 63% 0% 11%

Sweden 90% 38% 9% 61% 1% 3%

Switzerland 88% 42% 9% 55% 3% 11%

Thailand 72% 60% 28% 40% 0% 10%

Turkey 58% 39% 25% 44% 17% 11%

Ukraine 63% 29% 20% 54% 17% 4%

USA 86% 51% 13% 48% 1% 11%

Vietnam 88% 71% 11% 28% 1% 26%

Global 75% 43% 21% 53% 4% 10%

Appealing Aspects QUESTION 2

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26%

BETTER COMPATIBILITY

OF FAMILY, LEISURE

TIME, AND CAREER

QUESTION 2: WHICH OF THE FOLLOWING ASPECTS APPEAL TO YOU?

37%

SELF-

FULFILLMENT

16%

RETURN TO JOB

MARKET

45%

INDEPENDENCE

FROM AN

EMPLOYER

39%

SECOND INCOME

PROSPECTS

Amway Global Entrepreneurship Report

#AGER2015 13

QUESTION 2: WHICH OF THE FOLLOWING ASPECTS APPEAL TO YOU?

„INDEPENDENCE“ AND

„SELF-FULFILLMENT“

STAY MOST IMPORTANT

REASONS FOR ENTRE-

PRENEURSHIP

• Aspects by age groups: All age groups agree on:

• “independence” is the most appealing aspect to

start an own business throughout all age groups

(under 35 years: 49%; from 35 to 49 years: 44%;

over 50 years: 43%)

• “better compatibility of family, leisure time and

career” declines with rising age (under 35 years:

31%; from 35 to 49 years: 27%; over 50 years:

20%),

as the most appealing factors to start an own

business.

• Aspects by gender: Men and women agree on “independence from an

employer” (male: 47%; female: 44%), however

women strive more for “second income propects”

than women (male: 34%; female: 43%).

Amway Global Entrepreneurship Report

#AGER2015 14

QUESTION 2: WHICH OF THE FOLLOWING ASPECTS APPEAL TO YOU?

A SELECTION OF BALTIC AND CEE COUNTRIES

Better

compatibility of

family, leisure

time, and career

Second income

prospects

Self-fulfillment;

possibility to

realize own ideas

Independence

from an employer,

being my own

boss

Return to job

market,

alternative to

unemployment

None of the above

Bulgaria 15% 35% 28% 35% 11% 24% Croatia 19% 40% 35% 51% 29% 12% Czech Republic 14% 30% 37% 41% 25% 20% Estonia 29% 41% 46% 54% 19% 6%

Hungary 20% 32% 31% 37% 13% 21% Latvia 26% 39% 37% 45% 16% 4% Lithuania 29% 46% 38% 51% 18% 3%

Poland 23% 40% 37% 47% 25% 8%

Romania 14% 49% 24% 40% 9% 23% Slovakia 21% 39% 36% 44% 16% 20% Slovenia 33% 46% 61% 53% 47% 3%

Baltics & CEE 22% 40% 37% 45% 21% 13% Global 30% 37% 44% 48% 26% 12%

Amway Global Entrepreneurship Report

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QUESTION 2: WHICH OF THE FOLLOWING ASPECTS APPEAL TO YOU?

Better

compatibility of

family, leisure

time, and career

Second income

prospects

Self-fulfillment;

possibility to

realize own ideas

Independence

from an employer,

being my own

boss

Return to job

market,

alternative to

unemployment

None of the above

Australia 44% 44% 64% 66% 38% 7%

Austria 25% 25% 33% 43% 17% 23%

Belgium 41% 44% 70% 63% 44% 13%

Brazil 19% 30% 33% 47% 14% 3%

Bulgaria 15% 35% 28% 35% 11% 24%

Canada 67% 73% 86% 84% 69% 4%

China 84% 84% 82% 78% 56% 1%

Colombia 33% 29% 33% 35% 15% 14%

Croatia 19% 40% 35% 51% 29% 12%

Czech Republic 14% 30% 37% 41% 25% 20%

Denmark 35% 41% 74% 67% 36% 3%

Estonia 29% 41% 46% 54% 19% 6%

Finland 13% 22% 52% 36% 13% 12%

France 16% 11% 43% 47% 15% 19%

Germany 26% 34% 42% 54% 18% 21%

Global 30% 37% 44% 48% 26% 12%

Amway Global Entrepreneurship Report

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QUESTION 2: WHICH OF THE FOLLOWING ASPECTS APPEAL TO YOU?

Better

compatibility of

family, leisure

time, and career

Second income

prospects

Self-fulfillment;

possibility to

realize own ideas

Independence

from an employer,

being my own

boss

Return to job

market,

alternative to

unemployment

None of the above

Great Britain 30% 16% 39% 50% 12% 13%

Greece 16% 24% 34% 39% 29% 6%

Hungary 20% 32% 31% 37% 13% 21%

India 31% 53% 42% 49% 21% 2%

Ireland 17% 16% 31% 36% 14% 27%

Italy 21% 23% 41% 46% 18% 1%

Japan 20% 25% 28% 15% 4% 36%

Korea 26% 17% 40% 27% 21% 12%

Latvia 26% 39% 37% 45% 16% 4%

Lithuania 29% 46% 38% 51% 18% 3%

Malaysia 62% 52% 56% 57% 38% 2%

Mexico 30% 30% 32% 43% 19% 4%

Netherlands 22% 26% 54% 64% 36% 5%

Norway 37% 41% 55% 43% 30% 10%

Poland 23% 40% 37% 47% 25% 8%

Global 30% 37% 44% 48% 26% 12%

Amway Global Entrepreneurship Report

#AGER2015 17

QUESTION 2: WHICH OF THE FOLLOWING ASPECTS APPEAL TO YOU?

Better

compatibility of

family, leisure

time, and career

Second income

prospects

Self-fulfillment;

possibility to

realize own ideas

Independence

from an employer,

being my own

boss

Return to job

market,

alternative to

unemployment

None of the above

Portugal 13% 15% 30% 45% 30% 19%

Romania 14% 49% 24% 40% 9% 23%

Russia 19% 33% 26% 26% 11% 28%

Slovakia 21% 39% 36% 44% 16% 20%

Slovenia 33% 46% 61% 53% 47% 3%

South Africa 31% 31% 39% 45% 26% 11%

Spain 17% 18% 35% 51% 25% 11%

Sweden 46% 69% 83% 72% 69% 3%

Switzerland 35% 28% 57% 49% 23% 10%

Thailand 34% 45% 31% 43% 11% 1%

Turkey 22% 33% 32% 40% 19% 17%

Ukraine 10% 31% 22% 13% 10% 39%

USA 62% 62% 72% 75% 50% 7%

Vietnam 52% 51% 50% 68% 45% 2%

Global 30% 37% 44% 48% 26% 12%

AESI QUESTION 3

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QUESTION 3: THE AMWAY ENTREPRENEURIAL SPIRIT INDEX (AESI)

• The 2015 AGER introduces the Amway Entrepreneurial Spirit Index (AESI). The AESI builds on the theory of planned behavior

• The AESI builds on the theory of planned behavior. It incorporates three dimensions:

1. Desirability

2. Feasibility

3. Stability against social pressure

• The AESI score may range from 0 to 100. The score is calculated as the mean of its three sub dimensions.

• The AESI indicates how inclined individuals are to start a business. Measuring results by country allows for comparisons with

neighboring countries and by geographic or economic regions. To ensure relevant comparison, countries must be comparable

culturally or economically.

Amway Global Entrepreneurship Report

#AGER2015 20

QUESTION 3: THE AMWAY ENTREPRENEURIAL SPIRIT INDEX (AESI)

45 Social Control

Feasability

Desire

44% 54%

AESI SCORE

38%

• Overall score: The AESI score of Latvia is at 45. The international average (51) reaches a higher score. With its

AESI score, Latvia is on a similar level to the European average (45).

• Score by gender: In Latvian male respondents reach a higher AESI score (50) than female respondents (41). Global

average: male (54), female (47)

• Score by age groups: Comparing the age groups, the Latvian respondents under 35 years have the highest AESI score

with (54), followed by those aged between 35 and 49 years (46) and over 50 years (38).

Global average: under 35 years: 56; from 35 to 49 years: 54; over 50 years: 44).

Amway Global Entrepreneurship Report

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QUESTION 3: THE AMWAY ENTREPRENEURIAL SPIRIT INDEX (AESI)

• Overall dimensions: Latvian respondents rank the desire to become an entrepreneur (Europe: 47%) first, followed by

the confidence in their own abilities (Europe: 41%). The stability against social pressure ranks

third for Latvian respondents (Europe: 48%). The international average ranks the desire to

become an entrepreneur first (world: 55%). Almost equally important follow stability against

social pressure (world: 49%) and feasibility (world: 47%).

• Dimensions by gender: Men have a bigger desire (female: 49%; male: 60%) and are more confident of their own

capabilities (female: 40%; male: 48%). Further, men are also more stable against social

pressure (female: 35%; male: 42%)

• Dimensions by age groups: Respondents under 35 years have a much bigger desire to start a business (under 35 years:

71%; from 35 to 49 years: 56%; over 50 years: 39%). Furthermore, respondents under 35 years

are more confident of their own abilities (under 35 years: 50%; from 35 to 49 years: 41%; over

50 years: 40%). Additionally, respondents under 50 years are more stable against social

pressure (under 35 years: 40%; from 35 to 49 years: 41%; over 50 years: 35%).

Amway Global Entrepreneurship Report

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QUESTION 3: THE AMWAY ENTREPRENEURIAL SPIRIT INDEX (AESI)

47% 41% 48%

45

EUROPE

55% 47% 49%

51

GLOBAL

52% 60% 43%

52

NORTH AMERICA

82% 66% 53%

67

LATIN AMERICA

76% 58% 59%

64

ASIA

DESIRE

FEASIBILITY

SOCIAL CONTROL

Amway Global Entrepreneurship Report

#AGER2015 23

QUESTION 3: THE AMWAY ENTREPRENEURIAL SPIRIT INDEX (AESI)

A SELECTION OF BALTIC AND CEE COUNTRIES

Desirability Feasibility Social control Index

Bulgaria 42% 27% 36% 35 Croatia 18% 28% 38% 28 Czech Republic 62% 38% 56% 52 Estonia 46% 37% 49% 44

Hungary 38% 22% 52% 37 Latvia 54% 44% 38% 45 Lithuania 82% 41% 56% 60 Poland 24% 34% 28% 29 Romania 39% 24% 51% 38 Slovakia 53% 37% 49% 46 Slovenia 71% 63% 77% 70

Baltics & CEE 48% 36% 48% 44 Global 55% 47% 49% 51

Amway Global Entrepreneurship Report

#AGER2015 24

QUESTION 3: THE AMWAY ENTREPRENEURIAL SPIRIT INDEX (AESI)

Desirability Feasibility Social control Index

Australia 54% 56% 44% 51

Austria 27% 37% 40% 35

Belgium 41% 40% 42% 41

Brazil 77% 63% 67% 69

Bulgaria 42% 27% 36% 35

Canada 47% 59% 43% 50

China 85% 81% 71% 79

Colombia 85% 60% 33% 59

Croatia 18% 28% 38% 28

Czech Republic 62% 38% 56% 52

Denmark 64% 53% 41% 53

Estonia 46% 37% 49% 44

Finland 57% 43% 62% 54

France 29% 42% 45% 39

Germany 26% 29% 38% 31

Global 55% 47% 49% 51

Amway Global Entrepreneurship Report

#AGER2015 25

QUESTION 3: THE AMWAY ENTREPRENEURIAL SPIRIT INDEX (AESI)

Desirability Feasibility Social control Index

Great Britain 44% 55% 45% 48

Greece 65% 39% 51% 52

Hungary 38% 22% 52% 37

India 94% 68% 76% 79

Ireland 47% 55% 53% 52

Italy 54% 44% 51% 50

Japan 29% 8% 19% 19

Korea 62% 34% 37% 44

Latvia 54% 44% 38% 45

Lithuania 82% 41% 56% 60

Malaysia 82% 69% 67% 73

Mexico 85% 76% 60% 74

Netherlands 48% 51% 59% 53

Norway 40% 54% 39% 44

Poland 24% 34% 28% 29

Global 55% 49% 47% 51

Amway Global Entrepreneurship Report

#AGER2015 26

QUESTION 3: THE AMWAY ENTREPRENEURIAL SPIRIT INDEX (AESI)

Desirability Feasibility Social control Index

Portugal 45% 42% 45% 44

Romania 39% 24% 51% 38

Russia 43% 23% 30% 32

Slovakia 53% 37% 49% 46

Slovenia 71% 63% 77% 70

South Africa 76% 73% 73% 74

Spain 46% 42% 45% 44

Sweden 50% 52% 44% 49

Switzerland 46% 50% 44% 47

Thailand 89% 72% 76% 79

Turkey 66% 55% 64% 62

Ukraine 42% 28% 32% 34

USA 57% 60% 43% 53

Vietnam 89% 75% 67% 77

Global 55% 47% 49% 51

Fear of Failure QUESTION 4

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QUESTION 4: THE FEAR OF FAILURE

OF LATVIAN RESPONDENTS

PERCEIVE THE FEAR TO FAIL

AS OBSTACLE TO STARTING

A BUSINESS

58 % • Overall fear: For more than every second respondent in Latvia (58%) fear

of failing is an obstacle to starting a business.

Even if this is more than every second respondent, the

averages of international (70%) and European (69%)

respondents perceive the fear to fail as a much stronger

obstacle to starting a business.

• Overall factors: The fear of failure is composed by different factors.

The outstanding main burden, Latvians fear most, are

“financial burdens up to bankruptcy” (41%). Far behind

follow “threat of the economic crisis” (25%), and “legal

consequences such as law-suits” (20%).

The international average of respondents agrees “financial

burdens up to bankruptcy” (41%), and the “threat of the

economic crisis” (29%) as most crucial aspects of the fear to

fail.

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QUESTION 4: THE FEAR OF FAILURE

• Factors by gender: Latvian female respondents see the ”fear of failing” as a bigger obstacle to starting a business

(female: 65%; male: 49%). Women especially fear ”financial burdens” (female: 47%; male: 34%) and

an “economical crisis” (female: 30%; male: 20%) more than their male counterparts.

Globaly: men and women fear “financial burdens” (female: 43%; male: 40%), and the “threat of the

economic crisis” (female: 31%; male: 28%) most.

• Factors by age groups: Age does not seem to have an influence on the perception of fear of failure as an obstacle to starting

a business (under 35 years: 58%; from 35 to 49 years: 58%; over 50 years: 57%). Approval rates for

single factors are on a similar level across all age groups.

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QUESTION 4: THE FEAR OF FAILURE IN LATVIA

IN YOUR OPINION, IS THE FEAR

TO FAIL AN OBSTACLE TO

STARTING A BUSINESS?

RESPONDENTS FEAR MOST... 58%

YES NO

… FINANCIAL

BURDENS UP TO

BANKRUPTCY

… THREAT OF THE

ECONOMIC CRISIS

…LEGAL

CONSEQUENCES

…THREAT OF

UNEMPLOYMENT

41%

25%

20%

12%

41%

… PERSONAL AND FAMILY

DISAPPOINTMENT 8%

Amway Global Entrepreneurship Report

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QUESTION 4: THE FEAR OF FAILURE

A SELECTION OF BALTIC AND CEE COUNTRIES

Yes No No Answer Financial

burdens

Disappointing

my family

Reputation

loss

Personal

disappointment

Take over the

responsibility

Legal

consequences

Not to be

given a second

chance

Threat of the

economic

crisis

Threat of

unemployment Others

Bulgaria 78% 11% 11% 51% 14% 8% 24% 16% 20% 6% 36% 14% 3% Croatia 85% 7% 8% 56% 7% 7% 17% 16% 17% 7% 43% 15% 4%

Czech

Republic 88% 8% 4% 50% 14% 13% 25% 24% 23% 10% 17% 14% 7%

Estonia 53% 46% 1% 36% 9% 7% 12% 6% 15% 2% 23% 12% 1%

Hungary 86% 6% 8% 57% 13% 7% 20% 19% 22% 6% 42% 24% 8% Latvia 58% 41% 1% 41% 8% 5% 8% 6% 20% 3% 25% 12% 0%

Lithuania 64% 34% 2% 40% 10% 5% 11% 8% 18% 5% 20% 12% 2%

Poland 71% 22% 7% 33% 9% 8% 16% 17% 19% 10% 26% 21% 0% Romania 85% 4% 11% 65% 14% 8% 23% 24% 21% 9% 36% 6% 4% Slovakia 82% 11% 7% 47% 11% 5% 11% 25% 17% 6% 47% 14% 4% Slovenia 54% 45% 1% 34% 5% 4% 11% 11% 18% 5% 20% 11% 3%

Baltics & CEE 73% 21% 6% 46% 10% 7% 16% 16% 19% 6% 30% 14% 3% Global 70% 26% 4% 41% 12% 8% 15% 13% 16% 8% 29% 16% 3%

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QUESTION 4: THE FEAR OF FAILURE

Yes No No

Answer

Financial

burdens

Disappointing

my family

Reputation

loss

Personal

disappointment

Take over the

responsibility

Legal

consequences

Not to be given

a second

chance

Threat of the

economic

crisis

Threat of

unemployment Others

Australia 55% 41% 4% 38% 10% 10% 17% 7% 14% 3% 16% 15% 2%

Austria 80% 15% 5% 49% 14% 10% 25% 11% 22% 11% 29% 19% 3%

Belgium 70% 28% 2% 45% 11% 8% 17% 10% 17% 9% 34% 20% 4%

Brazil 51% 49% 0% 28% 6% 4% 7% 4% 8% 5% 25% 8% 1%

Bulgaria 78% 11% 11% 51% 14% 8% 24% 16% 20% 6% 36% 14% 3%

Canada 69% 29% 2% 45% 12% 12% 17% 10% 15% 6% 22% 18% 3%

China 60% 39% 1% 30% 22% 12% 10% 12% 13% 14% 19% 21% 0%

Colombia 42% 58% 0% 24% 7% 5% 10% 11% 7% 9% 24% 11% 2%

Croatia 85% 7% 8% 56% 7% 7% 17% 16% 17% 7% 43% 15% 4% Czech Republic 88% 8% 4% 50% 14% 13% 25% 24% 23% 10% 17% 14% 7%

Denmark 43% 53% 4% 30% 8% 5% 11% 4% 8% 3% 17% 9% 2%

Estonia 53% 46% 1% 36% 9% 7% 12% 6% 15% 2% 23% 12% 1%

Finland 67% 30% 3% 42% 7% 4% 8% 12% 8% 3% 30% 11% 8%

France 74% 23% 3% 53% 5% 2% 8% 11% 13% 5% 40% 18% 6%

Germany 78% 19% 3% 62% 11% 8% 29% 10% 20% 6% 26% 20% 5%

Global 70% 26% 4% 41% 12% 8% 15% 13% 16% 8% 29% 16% 3%

Amway Global Entrepreneurship Report

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QUESTION 4: THE FEAR OF FAILURE

Yes No No

Answer

Financial

burdens

Disappointing

my family

Reputation

loss

Personal

disappointment

Take over the

responsibility

Legal

consequences

Not to be given

a second

chance

Threat of the

economic

crisis

Threat of

unemployment Others

Great Britain 57% 41% 2% 34% 6% 5% 15% 6% 11% 3% 16% 18% 3%

Greece 84% 15% 1% 39% 5% 3% 10% 6% 14% 3% 49% 14% 2%

Hungary 86% 6% 8% 57% 13% 7% 20% 19% 22% 6% 42% 24% 8%

India 90% 7% 3% 46% 30% 30% 28% 25% 26% 20% 42% 22% 3%

Ireland 70% 20% 10% 28% 6% 8% 14% 12% 13% 7% 24% 17% 3%

Italy 90% 7% 3% 39% 15% 7% 19% 14% 14% 8% 46% 18% 3%

Japan 94% 5% 1% 67% 13% 4% 8% 44% 19% 4% 28% 28% 5%

Korea 88% 1% 11% 59% 35% 12% 26% 13% 13% 22% 48% 16% 0%

Latvia 58% 41% 1% 41% 8% 5% 8% 6% 20% 3% 25% 12% 0%

Lithuania 64% 34% 2% 40% 10% 5% 11% 8% 18% 5% 20% 12% 2%

Malaysia 76% 21% 3% 34% 16% 16% 13% 11% 14% 16% 33% 16% 10%

Mexico 87% 12% 1% 32% 16% 13% 18% 14% 19% 15% 32% 20% 1%

Netherlands 32% 65% 3% 17% 2% 1% 5% 6% 4% 3% 13% 9% 1%

Norway 49% 48% 3% 28% 7% 4% 9% 4% 9% 2% 25% 8% 3%

Poland 71% 22% 7% 33% 9% 8% 16% 17% 19% 10% 26% 21% 0%

Global 70% 26% 4% 41% 12% 8% 15% 13% 16% 8% 29% 16% 3%

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QUESTION 4: THE FEAR OF FAILURE

Yes No No

Answer

Financial

burdens

Disappointing

my family

Reputation

loss

Personal

disappointment

Take over the

responsibility

Legal

consequences

Not to be given

a second

chance

Threat of the

economic

crisis

Threat of

unemployment Others

Portugal 70% 23% 7% 38% 6% 4% 8% 9% 14% 6% 46% 25% 3%

Romania 85% 4% 11% 65% 14% 8% 23% 24% 21% 9% 36% 6% 4%

Russia 76% 10% 14% 50% 18% 6% 11% 15% 19% 5% 21% 6% 8%

Slovakia 82% 11% 7% 47% 11% 5% 11% 25% 17% 6% 47% 14% 4%

Slovenia 54% 45% 1% 34% 5% 4% 11% 11% 18% 5% 20% 11% 3%

South Africa 85% 9% 6% 33% 15% 15% 18% 18% 18% 13% 34% 24% 3%

Spain 78% 21% 1% 52% 5% 3% 14% 16% 14% 14% 49% 19% 9%

Sweden 40% 60% 0% 29% 7% 4% 12% 6% 8% 3% 10% 12% 1%

Switzerland 74% 24% 2% 51% 14% 6% 16% 9% 18% 5% 24% 20% 4%

Thailand 83% 15% 2% 41% 18% 21% 20% 20% 16% 20% 47% 19% 4%

Turkey 45% 54% 1% 19% 13% 7% 15% 10% 7% 6% 15% 11% 0%

Ukraine 69% 12% 19% 41% 10% 4% 8% 11% 19% 5% 26% 9% 4%

USA 62% 37% 1% 37% 14% 8% 16% 9% 21% 7% 22% 16% 2%

Vietnam 86% 13% 1% 39% 27% 31% 19% 23% 18% 16% 27% 23% 0%

Global 70% 26% 4% 41% 12% 8% 15% 13% 16% 8% 29% 16% 3%

Friendliness QUESTION 5

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QUESTION 5: ENTREPRENEURSHIP-FRIENDLINESS OF SOCIETY

OF LATVIAN RESPONDENTS RATE

THEIR SOCIETY

ENTREPRENEURSHIP-FRIENDLY

49 %

• Overall friendliness: Almost half of the respondents state their country to be

entrepreneurship-friendly (49%). Globaly: 50%, Europe:

46%.

• Friendliness by gender: Male respondents rate the Latvian society as friendly

as their female counterparts

• female: 49% entrepreneurship-friendly;

• male: 51% entrepreneurship-friendly.

• Friendliness by age groups: The age groups have a similar opinion concerning

the entrepreneurship-friendliness of their country.

• Under 35 years: (50% entrepreneurship-friendly)

• 35 to 49 years: (49% entrepreneurship-friendly)

• Over 50 years: (50% entrepreneurship-friendly)

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55%

61%

47%

34%

QUESTION 5: ENTREPRENEURSHIP-FRIENDLINESS OF SOCIETY

46%

43%

37%

EUROPE

NORTH AMERICA

LATIN AMERICA

63%

ASIA

49% 45%

LATVIA

50% 43%

GLOBAL

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QUESTION 5: ENTREPRENEURSHIP-FRIENDLINESS OF SOCIETY

A SELECTION OF BALTIC AND CEE COUNTRIES

Very friendly Friendly Unfriendly Very unfriendly Sum (friendly) Sum

(unfriendly) No Answer

Bulgaria 1% 7% 38% 42% 8% 80% 12% Croatia 3% 34% 33% 23% 37% 56% 7% Czech Republic 7% 43% 35% 8% 50% 43% 7% Estonia 8% 50% 26% 11% 58% 37% 5%

Hungary 3% 17% 43% 32% 20% 75% 5% Latvia 5% 44% 37% 8% 49% 45% 6% Lithuania 2% 42% 44% 8% 44% 52% 4% Poland 5% 49% 30% 9% 54% 39% 7% Romania 2% 17% 34% 26% 19% 60% 21% Slovakia 5% 29% 38% 18% 34% 56% 10% Slovenia 1% 23% 53% 22% 24% 75% 1%

Baltics & CEE 4% 32% 37% 19% 36% 56% 8% Global 11% 39% 30% 13% 50% 43% 7%

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QUESTION 5: ENTREPRENEURSHIP-FRIENDLINESS OF SOCIETY

Very friendly Friendly Unfriendly Very unfriendly Sum (friendly) Sum (unfriendly) No Answer

Australia 16% 49% 21% 4% 65% 25% 10%

Austria 8% 41% 27% 12% 49% 39% 12%

Belgium 7% 51% 27% 10% 58% 37% 5%

Brazil 5% 28% 48% 17% 33% 65% 2%

Bulgaria 1% 7% 38% 42% 8% 80% 12%

Canada 4% 14% 56% 22% 18% 78% 4%

China 7% 66% 23% 3% 73% 26% 1%

Colombia 4% 24% 32% 38% 28% 70% 2%

Croatia 3% 34% 33% 23% 37% 56% 7%

Czech Republic 7% 43% 35% 8% 50% 43% 7%

Denmark 25% 59% 11% 2% 84% 13% 3%

Estonia 8% 50% 26% 11% 58% 37% 5%

Finland 4% 46% 41% 7% 50% 48% 2%

France 5% 38% 32% 17% 43% 49% 8%

Germany 7% 37% 37% 8% 44% 45% 11%

Global 11% 39% 30% 13% 50% 43% 7%

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QUESTION 4: THE FEAR OF FAILURE

Yes No No

Answer

Financial

burdens

Disappointing

my family

Reputation

loss

Personal

disappointment

Take over the

responsibility

Legal

consequences

Not to be given

a second

chance

Threat of the

economic

crisis

Threat of

unemployment Others

Great Britain 57% 41% 2% 34% 6% 5% 15% 6% 11% 3% 16% 18% 3%

Greece 84% 15% 1% 39% 5% 3% 10% 6% 14% 3% 49% 14% 2%

Hungary 86% 6% 8% 57% 13% 7% 20% 19% 22% 6% 42% 24% 8%

India 90% 7% 3% 46% 30% 30% 28% 25% 26% 20% 42% 22% 3%

Ireland 70% 20% 10% 28% 6% 8% 14% 12% 13% 7% 24% 17% 3%

Italy 90% 7% 3% 39% 15% 7% 19% 14% 14% 8% 46% 18% 3%

Japan 94% 5% 1% 67% 13% 4% 8% 44% 19% 4% 28% 28% 5%

Korea 88% 1% 11% 59% 35% 12% 26% 13% 13% 22% 48% 16% 0%

Latvia 58% 41% 1% 41% 8% 5% 8% 6% 20% 3% 25% 12% 0%

Lithuania 64% 34% 2% 40% 10% 5% 11% 8% 18% 5% 20% 12% 2%

Malaysia 76% 21% 3% 34% 16% 16% 13% 11% 14% 16% 33% 16% 10%

Mexico 87% 12% 1% 32% 16% 13% 18% 14% 19% 15% 32% 20% 1%

Netherlands 32% 65% 3% 17% 2% 1% 5% 6% 4% 3% 13% 9% 1%

Norway 49% 48% 3% 28% 7% 4% 9% 4% 9% 2% 25% 8% 3%

Poland 71% 22% 7% 33% 9% 8% 16% 17% 19% 10% 26% 21% 0%

Global 70% 26% 4% 41% 12% 8% 15% 13% 16% 8% 29% 16% 3%

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QUESTION 5: ENTREPRENEURSHIP-FRIENDLINESS OF SOCIETY

Very friendly Friendly Unfriendly Very unfriendly Sum (friendly) Sum (unfriendly) No Answer

Portugal 2% 14% 42% 31% 16% 73% 11%

Romania 2% 17% 34% 26% 19% 60% 21%

Russia 9% 47% 24% 4% 56% 28% 16%

Slovakia 5% 29% 38% 18% 34% 56% 10%

Slovenia 1% 23% 53% 22% 24% 75% 1%

South Africa 44% 34% 10% 4% 78% 14% 8%

Spain 7% 26% 43% 23% 33% 66% 1%

Sweden 8% 62% 23% 5% 70% 28% 2%

Switzerland 11% 55% 22% 4% 66% 26% 8%

Thailand 30% 48% 17% 4% 78% 21% 1%

Turkey 15% 38% 26% 7% 53% 33% 14%

Ukraine 10% 33% 28% 8% 43% 36% 21%

USA 28% 39% 18% 13% 67% 31% 2%

Vietnam 22% 51% 21% 4% 73% 25% 2%

Global 11% 39% 30% 13% 50% 43% 7%

Characteristics QUESTION 6

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QUESTION 6: CHARACTERISTICS OF ENTREPRENEURS

ENTREPRENEURS...

„... LIKE TO LEARN

THINGS.“

90%/82%/84%

LATVIA/EUROPE/GLOBAL

„... WANT TO ENJOY

LIFE.“

„... LIKE TO BE IN

CHARGE, AND TELL

OTHERS WHAT TO

DO.“

90%/80%/78%

LATVIA/EUROPE/GLOBAL

83%/74%/75%

LATVIA/EUROPE/GLOBAL

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QUESTION 6: CHARACTERISTICS OF ENTREPRENEURS

A SELECTION OF BALTIC AND CEE COUNTRIES

“…like to be in

charge”

“…like to

impress”

“…want to enjoy

life”

“…like to take

risks”

“…like to learn

things”

“…want justice

for everybody”

“…want to help

people”

“… are

traditional”

“…think people

should follow

rules”

“…think safety is

very important”

Bulgaria 89% 81% 84% 74% 75% 40% 40% 40% 44% 56% Croatia 70% 82% 86% 64% 71% 32% 40% 46% 47% 62% Czech Republic 84% 82% 85% 73% 70% 41% 49% 45% 57% 73% Estonia 77% 71% 85% 62% 91% 46% 66% 51% 61% 77%

Hungary 59% 77% 88% 73% 72% 55% 35% 28% 38% 41% Latvia 83% 72% 90% 60% 90% 53% 60% 64% 53% 79% Lithuania 79% 62% 92% 70% 89% 70% 54% 57% 65% 75% Poland 72% 73% 78% 65% 71% 47% 49% 53% 64% 59% Romania 79% 73% 79% 62% 79% 48% 49% 45% 69% 61% Slovakia 81% 82% 84% 74% 65% 40% 46% 41% 55% 64% Slovenia 84% 71% 84% 71% 93% 50% 65% 57% 59% 75%

Baltics & CEE 78% 75% 85% 68% 79% 47% 50% 48% 56% 66% Global 75% 68% 78% 70% 84% 54% 62% 48% 60% 70%

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QUESTION 6: CHARACTERISTICS OF ENTREPRENEURS

“…like to be in

charge”

“…like to

impress”

“…want to enjoy

life”

“…like to take

risks”

“…like to learn

things”

“…want justice

for everybody”

“…want to help

people”

“… are

traditional”

“…think people

should follow

rules”

“…think safety is

very important”

Australia 72% 71% 89% 82% 87% 47% 61% 35% 41% 65%

Austria 71% 57% 63% 61% 66% 44% 53% 55% 51% 57%

Belgium 77% 68% 77% 66% 88% 49% 64% 47% 56% 70%

Brazil 72% 68% 68% 63% 95% 64% 69% 53% 80% 87%

Bulgaria 89% 81% 84% 74% 75% 40% 40% 40% 44% 56%

Canada 73% 76% 91% 86% 95% 57% 77% 39% 54% 71%

China 82% 82% 81% 84% 93% 64% 75% 36% 80% 83%

Colombia 64% 62% 95% 76% 98% 81% 88% 52% 70% 92%

Croatia 70% 82% 86% 64% 71% 32% 40% 46% 47% 62%

Czech Republic 84% 82% 85% 73% 70% 41% 49% 45% 57% 73%

Denmark 64% 63% 74% 92% 97% 59% 72% 22% 49% 61%

Estonia 77% 71% 85% 62% 91% 46% 66% 51% 61% 77%

Finland 72% 57% 79% 57% 91% 47% 69% 56% 57% 79%

France 76% 61% 75% 68% 83% 40% 53% 53% 63% 68%

Germany 86% 56% 60% 61% 73% 31% 39% 51% 49% 55%

Global 75% 68% 78% 70% 84% 54% 62% 48% 60% 70%

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QUESTION 6: CHARACTERISTICS OF ENTREPRENEURS

“…like to be in

charge”

“…like to

impress”

“…want to enjoy

life”

“…like to take

risks”

“…like to learn

things”

“…want justice

for everybody”

“…want to help

people”

“… are

traditional”

“…think people

should follow

rules”

“…think safety is

very important”

Great Britain 69% 73% 87% 82% 85% 42% 62% 40% 45% 58%

Greece 77% 65% 87% 70% 88% 56% 62% 57% 76% 64%

Hungary 59% 77% 88% 73% 72% 55% 35% 28% 38% 41%

India 94% 82% 91% 68% 89% 84% 90% 85% 90% 91%

Ireland 66% 70% 84% 75% 87% 70% 76% 58% 70% 74%

Italy 78% 73% 76% 76% 83% 53% 46% 44% 63% 67%

Japan 68% 40% 51% 41% 69% 21% 29% 15% 30% 24%

Korea 70% 62% 54% 60% 73% 47% 50% 41% 56% 62%

Latvia 83% 72% 90% 60% 90% 53% 60% 64% 53% 79%

Lithuania 79% 62% 92% 70% 89% 70% 54% 57% 65% 75%

Malaysia 72% 66% 91% 77% 93% 77% 87% 54% 76% 88%

Mexico 72% 69% 80% 71% 80% 74% 74% 68% 70% 76%

Netherlands 74% 71% 78% 82% 85% 47% 64% 37% 67% 64%

Norway 73% 54% 57% 69% 94% 52% 67% 20% 57% 70%

Poland 72% 73% 78% 65% 71% 47% 49% 53% 64% 59%

Global 75% 68% 78% 70% 84% 54% 62% 48% 60% 70%

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QUESTION 6: CHARACTERISTICS OF ENTREPRENEURS

“…like to be in

charge”

“…like to

impress”

“…want to enjoy

life”

“…like to take

risks”

“…like to learn

things”

“…want justice

for everybody”

“…want to help

people”

“… are

traditional”

“…think people

should follow

rules”

“…think safety is

very important”

Portugal 79% 64% 76% 79% 88% 61% 67% 61% 79% 79%

Romania 79% 73% 79% 62% 79% 48% 49% 45% 69% 61%

Russia 80% 71% 80% 63% 75% 41% 47% 46% 39% 62%

Slovakia 81% 82% 84% 74% 65% 40% 46% 41% 55% 64%

Slovenia 84% 71% 84% 71% 93% 50% 65% 57% 59% 75%

South Africa 82% 83% 88% 86% 91% 82% 85% 67% 83% 86%

Spain 62% 55% 82% 60% 87% 67% 72% 47% 58% 77%

Sweden 52% 61% 78% 77% 93% 43% 68% 32% 47% 62%

Switzerland 84% 48% 54% 64% 85% 38% 50% 45% 55% 76%

Thailand 82% 78% 68% 61% 82% 78% 81% 61% 82% 85%

Turkey 73% 66% 61% 58% 63% 57% 59% 53% 59% 62%

Ukraine 78% 72% 77% 58% 65% 47% 48% 49% 46% 62%

USA 64% 70% 96% 89% 95% 66% 80% 40% 61% 80%

Vietnam 67% 55% 67% 67% 94% 72% 82% 48% 85% 82%

Global 75% 68% 78% 70% 84% 54% 62% 48% 60% 70%