Jamaican Entrepreneurs are not in it solely for the money!
September 19 1 Comment
Only about 1 in 10 Jamaican entrepreneurs saw the possibility of great financial reward as the main driver (impetus) for starting their own business – The Jamaica SMEs Survey Report 2013.
Jamaican entrepreneurs were more motivated by the mindset of actually owning a business – it was a “personal goal” (35%). In addition, there were some who “saw the market opportunity” (34%) and those who wanted to find the “freedom that owning a business allows” (16%). More males were in it for the freedom, while more females saw it as a personal goal.
Entrepreneurs are social beings who are not fully understood based on their complete and blatant need for actualizing the possibility of a business idea. This is what we found to be the main fiber that connects the Jamaican entrepreneur to those of the world, not the money!
Written by: Shanna Kaye Wright (Balcostics’ Team Member)
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- Cross – tabs looking at the distribution of results by all sub- groups (gender, age, years in operation).
- Correlations and significant relationships identified between sub- groups.
- Executive summary of the main finds and trends found.
- General analysis of the findings from the survey.
- Specific services/ products offered by respondents’ businesses
- Questionnaire used for data collection
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![Understanding sampling methods [Animation]](https://i1.wp.com/balcostics.files.wordpress.com/2014/03/sampling-methods.gif?resize=40%2C40){kind=small}
Having been an entrepreneur for many years, I find this report a little surprising. As with most of the people I know that have started businesses, see making big money as a by product of the more tangible goals the report alludes to.
I would also note that for most entrepreneurs in my experience, the hours worked for the total income gleaned, most often make them quite poorly paid comnpared to those on a payroll.
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