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>Entrepreneurship doesn’t always run in the family. More than half (51.9 percent) of respondents were the first in their families to launch a business. the con
by prat 17y ago
>Entrepreneurship doesn’t always run in the family. More than half (51.9 percent) of respondents were the first in their families to launch a business.
the converse of this is more surprising. The ball-park null hypothesis is that only 0.29% (290 for every 100,000 individuals) should come from family with history of entrepreneurs - but observed figure is ~50%. From this one should conclude that entrepreneurship does run in families.
- jwhitlark 17y agoI also found this interesting. My father has run his own business full time for 20 years, and did it part time before that. I think that's a big reason I started my own business ~2000, though it certainly was not a startup as we think of the term. A lot of the reluctance to do a startup is simply fear of the unknown, or thinking there's some "secret sauce" that one doesn't know. Like most things in life that don't have a prospect of being immediately fatal, often the best advice is "Just do it"
- prat 17y ago"Fear of the unknown" - very well said. In fact, there are some communities (sindhis, marwaris, parsis in India for example) where the culture of entrepreneurship has been handed down through generations. Like getting a job is a way of life and not "unknown" in common families, entrepreneurship is not an "unknown" in families of these communities.
- prat 17y agoWould also like to point out that culture driven entrepreneurship may be slightly of a different kind than we are acquainted with (startups/VCs/business plans etc.). These people may have for example started with being a taxi driver and grown to be the owner of travel company.