Breaking news:
We were interested to see that research has been done globally , surveying the impact of having a mentor on the intent of men and women across the world to start a business. The results, collected by Gallup, confirm what we at Mowgli know to be true: mentoring increases confidence and entrepreneurial intent.
Gallup surveys in 83 countries indicate that adults who have access to a mentor are three times more likely to say they are planning to start a business (14%) than those who do not have a mentor (5%).
In the Middle East, mentoring clearly has an impact on the likelihood of those who will start a business- with 15% of those planning to start a business saying they have a mentor. In Europe, entrepreneurial intent was much lower, but the mentor’s influence still increased the likelihood of entrepreneurial intent by about the same significant percentage. See the table below:
Gallup data table. 'Mentor support key to starting a business'
It’s clear, as the report states, that access to social capital is key to motivating business startups.
“…Gallup’s consulting work with more than 1,000 entrepreneurs in Mexico and the U.S. shows that pairing an entrepreneur with a mentor increases confidence and self-awareness as well as enhances business thinking and risk taking among the entrepreneurs.”
If you’re interested in the full data set, click here to access it on the Gallup site.
