SINGAPORE
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Herbalife Nutrition polled 4,093 people in the Generation Z and
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“Many aspiring entrepreneurs are driven by the prospect of following
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However, a desire for entrepreneurship does not mean respondents are
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“Most respondents feel intimidated by their lack of experience, are
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Aspiring young entrepreneurs
87% of
Key reasons for entrepreneurship
When asked about the motivations for their entrepreneurship aspirations,
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Cost, lack of financial and market
Respondents said the main challenges to starting a
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Training, financial resources
Among the respondents who already started their own business, 63% said
\n–\u00a0Media OutReach<\/a>\u00a0–\u00a023 June 2021 –\u00a0Premier global nutrition company,
\n<\/b>Herbalife Nutrition<\/a>, unveiled
\nfindings from its 2021 Asia Pacific Young Entrepreneurs Survey<\/i> today, which
\nfound that 72% of Generation Zs and Millennials in Asia Pacific aspire to have their
\nown businesses. The survey showed that almost 9 out of 10 (87%) respondents believe that the best
\nage to start a business is under 40 years old, with the average best age
\nidentified at 27 years old.<\/p>\n![](\"https:\/\/release.media-outreach.com\/release.php\/Images\/Thumb\/500x0\/158179\/Entrepreneurship-Infographic.jpg#image-158179\")
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\nMillennial (aged 18 \u2013 40) groups to examine entrepreneurship trends across eight
\ncountries i.e. Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea,
\nTaiwan and Vietnam. <\/p>\n
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\ntheir passions, and desire to become their own bosses. They see their youth as
\na strength, especially when it comes to being technology savvy and having fresh
\nideas,” said Stephen Conchie, Senior Vice President and Managing Director,
\nHerbalife Nutrition Asia Pacific. <\/p>\n
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\njumping into it: the average respondent said they believe someone should have
\nfive years of experience before starting their own business.<\/p>\n
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\nconcerned about business start-up costs, and the necessary financial and market
\nknowledge. This is where learning good business fundamentals; having mentors,
\nthe right resources and a supportive community can help budding entrepreneurs
\nto better navigate the uncertainties ahead. These important steps can improve
\ntheir chances of success,” added Conchie.<\/p>\n
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\nbelieve their age will help their chances for business success<\/b><\/p>\n
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\nrespondents believe that the best time to start a business is when they are
\nstill under the age of 40, with average prime age for starting a business at 27
\nyears old. In addition, 54% of respondents believe that their age will help
\ntheir chances of business success due to the following reasons:<\/p>\n\n
\nbetter at adapting to new technology (61%)<\/li>\n
\nmore likely to embrace new technology (51%)<\/li>\n
\nhave fresh, unexplored ideas (44%)<\/li>\n<\/ul>\n
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\nthe top reasons include following their passion (40%), becoming their own boss
\n(39%), wanting more flexibility in their jobs (37%), supporting their families
\n(36%), and wanting a career change (33%). <\/p>\n
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\nknowledge holding entrepreneur hopefuls back<\/b><\/p>\n
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\nbusiness are the initial costs (38%) and lack of financing and market knowledge
\nsupport (35%). 68% said now is the best time to start their own business but they
\nare intimidated by their own inexperience (70%) and feel overwhelmed by the
\nprospect of starting a business (77%).<\/p>\n
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\nand business tools can boost success<\/b><\/p>\n
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\nthey are still open during the pandemic. They listed more training and
\neducation (55%), additional financial resources (52%) and access to business
\ntools (45%) as factors that will help them be more successful.<\/p>\n
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