A new survey has revealed the entrepreneurial attitudes in Africa; it depicts that despite the economic struggles of the European Union (EU), African entrepreneurs still see the region as the most lucrative for African business.
The survey which was conducted by British qualifications body, Association of Business Executives (ABE) on its 12,000 African business students on their attitudes to entrepreneurship revealed that 32 percent of them believes EU has the most profit potential for new African business followed by East Asia (24 percent) while Africa (18 percent) itself came in third place despite the recent growth in the continent’s economies.
Head of Business Development and Publishing for ABE, Jonathan Swindell, said: “ABE’s entrepreneurial African students are recognising their continent’s role on the international business stage, and the largest proportion of Africa’s future business leaders have their eyes firmly set on trade with the EU.”
The survey also shows that Bill Gates is the most admired business person by African entrepreneurs while Africa’s richest man Alhaji Aliko Dangote received just 3 percent of the vote.
Innovation and creativity are considered the most important qualities of an entrepreneur as only seven percent of entrepreneurs are primarily motivated by wealth attainment.
The study also revealed that the 95 percent of the entrepreneurs plan to start a business – two third of the bunch planning to start their business within the next five years while one in seven will do so within the next 12 months.
Two-fifths of students surveyed said education must improve to support current economic growth while one in five feels that governments should introduce new policies to improve education to support the growth of new businesses.
ABE provides a range of business management qualifications to more than 50,000 students worldwide every year. It is improving the available education for entrepreneurially-minded Africans by launching its new Diploma in Entrepreneurship.
Makini College in Nairobi, Kenya is the first accredited college in Africa to offer the qualification, Africa Business Review reported.
The diploma is specifically designed to enhance young Africans’ business understanding while focusing on identifying business opportunities, understanding customers, clarifying market demand, conducting market research and constructing a business plan.
Anne Kathambara-Omware, from Makini College in Kenya, said: “The Diploma in Entrepreneurship will help people who want to start their own business, but it will also help people to find jobs or obtain promotions as all organisations will gain from employing someone with an entrepreneurial outlook.”
