Entrepreneurialism alive and well in the time of the pandemic

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Entrepreneurial spirit is up among women and younger adults.

One-third of adults across the world show a very high level of entrepreneurial spirit, according to a new Ipsos survey of more than 20,000 men and women in 28 countries.

Ipsos’ proprietary Entrepreneurial Spirit Index tracks the prevalence of 18 key entrepreneurial characteristics globally. Characteristics measured range from having a strong work ethic to a liking to take calculated risks.

Entrepreneurialism alive and well in the time of the pandemic

The survey, conducted in late 2020, shows that entrepreneurial spirit varies widely by country. Colombia tops the list, followed by South Africa and Peru. Belgium, Great Britain, France, Netherlands, South Korea, and Japan rank lowest.

Why does this matter?

Many pundits and economists have noted that entrepreneurialism is central to a sustained recovery as the pandemic drags on. The small business specifically has been devastated by the pandemic, particularly by rolling lockdowns. A renewed economy will depend in large part on entrepreneurial activity among citizens.

Key findings

1. Entrepreneurial spirit is growing in non-traditional groups; the pandemic has spurred entrepreneurial activity

  • The entrepreneurial spirit is highest among expected groups – Millennials, and Gen X, as well as those with higher education and income levels.
  • But importantly, entrepreneurial spirit has increased most (since November 2018) among women, Gen Z, Millennials and Gen X, and among those with lower education income.
  • And, a full three-in-ten of entrepreneurs who have started a business in the last year say that they were motivated to do so by the pandemic.

2. Women are seen at a disadvantage

  • Most global citizens do not think that women are treated fairly when they try to start a business. A majority in only 5 of the 28 countries surveyed – China, Saudi Arabia, India, Malaysia and Turkey – perceive women are treated fairly, while it is a minority in all remaining 23 countries.

3. Neither government nor the private/business sector are seen as doing a good job in actively assisting entrepreneurs globally.

  • Globally, only 29% give positive ratings to their government assisting entrepreneurs. Government is seen to be doing a better job in India, Poland, Malaysia and Mexico, lowest in Belgium, Italy, Peru, Hungary and Japan.
  • A similar proportion, 32%, give business generally and banks/financial institutions in their country specifically, positive scores for assisting entrepreneurs.
Read Also:  10 Things To Never Say To Your Boss.

4. Barriers to starting a business vary widely by country

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While funding is a top barrier to starting a business in most countries…

  • Lack of interest is the top barrier in Canada, Belgium, US, Australia, Germany, Sweden, Great Britain and Netherlands.
  • The economy is a higher barrier in Chile, South Korea, Malaysia, Brazil, Argentina, Turkey, France, Spain, China, Italy, Poland and Hungary.
  • Knowledge is a higher barrier in Saudi Arabia, Chile, India, Malaysia, Russia, China and Japan.

5. Business entrepreneurialism is challenged by social entrepreneurialism

Entrepreneurialism is being manifested mostly in its traditional form – by business creation (business entrepreneurialism). However, it is also being manifested, sometimes in conjunction with business creation but not always, in social entrepreneurialism (the creation of interest groups).

Indeed, social entrepreneurialism (those who say they’ve started an interest group) tends to be a more recent phenomenon than business entrepreneurialism.

  • Among the 30% of worldwide citizens who say they have started a business in the past, 29% say they did so in the past year.
  • But, among the 13% who have started an interest group in the past, 43% say they did so in the past year.

This reflects the reality of who current and likely entrepreneurs are as people – they are much more likely than non-entrepreneurs to be participating/active in society generally.

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“Those interested in supporting and facilitating business entrepreneurialism will need to widen their scope to include a growing interest in social entrepreneurialism,” Mike Colledge, President Ipsos Public Affairs Canada notes.

“Successful promotion of business entrepreneurship among citizens must also include a recognition of the increasing importance of socio-political issues to entrepreneurs.”

These are the findings of a 28-country Ipsos survey conducted between November 20 and December 4, 2020, among 20,504 adults aged 18-74 in the United States, Canada, Malaysia, South Africa, and Turkey and 16-74 in 23 other countries, via Ipsos’ Global Advisor online survey platform.
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Entrepreneurialism alive and well in the time of the pandemic - Brand SpurEntrepreneurialism alive and well in the time of the pandemic - Brand Spur

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Entrepreneurialism alive and well in the time of the pandemic - Brand SpurEntrepreneurialism alive and well in the time of the pandemic - Brand Spur

Latest News

Kinaxis Named a Leader in the 2021 Gartner Magic Quadrant for Supply Chain Planning Solutions Report

Kinaxis evaluated on both execution and vision with furthest placement for completeness of vision in the Leaders quadrant


OTTAWA, CANADA - Media OutReach - 4 March 2021 - Kinaxis® Inc. (TSX:KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, today announced it has been named a Leader in the 2021 Gartner Magic Quadrant for Supply Chain Planning Solutions. The company is recognized for both the ability to execute and its completeness of vision. Kinaxis is positioned furthest on the Completeness of Vision axis amongst those in the Leaders quadrant 1.

A complimentary copy of the report can be downloaded from Kinaxis. This is the seventh consecutive time Kinaxis has been named a Leader in a Gartner Magic Quadrant related to supply chain planning 1 .

"In the face of the unprecedented level of disruption over the past year, corporate supply chains have never been more relevant and doing nothing to improve planning has become the biggest risk. Supply chain leaders at companies of all sizes have recognized a need for a transformational shift to agility and resiliency based on a new planning technique -- concurrent planning, that only Kinaxis can provide," said John Sicard, CEO of Kinaxis. "Kinaxis uniquely combines AI, analytics and human intelligence to empower innovative manufacturers to eliminate functional silos and cost-effectively optimize the potential of their supply chains in just a few weeks."

Continued Sicard, "We believe we are the leading innovator based on vision in the market and are thrilled with our positioning for our current, proven RapidResponse platform. Kinaxis takes pride in our talented team, the collaborative relationships we have with our customer and partner community and helping advance the craft of supply chain planning for the benefit of the planet."

Read Also:  Ipsos Revenue Drops By 8.3% to €1.8Bn in 2020

Top-tier manufacturers around the world use Kinaxis in the aerospace and defense, automotive, consumer products, high-tech and electronics, industrial, life sciences and retail industries, including Unilever, Schneider Electric, Flex, Merck, Technicolor, Alstom and Honda, and many others.

"Schneider Electric's supply chain digitalization journey, including our work with Kinaxis, has allowed us to function as a truly global enterprise," said Mourad Tamoud, Chief Supply Chain Officer at Schneider Electric. "Through our engagement with Kinaxis, we have found them to be industry-leading, and the partnership has enabled us to have greater transparency, wider collaboration and increasingly autonomous high-quality decision-making throughout the organization."

Kinaxis RapidResponse® is a cloud-based software-as-a-service (SaaS) platform purpose-built for planning, leveraging patented in-memory database technology and always-on algorithms. Combined with Kinaxis' unique concurrent planning technique and AI, RapidResponse helps global manufacturers gain agile and resilient supply chains. The Kinaxis suite of ready-to-deploy planning applications (S&OP / IBP, Demand, Supply, Command & Control Center, Inventory, Live Lens Insights) is optimized with industry best practice processes and robust analytics that are synchronized across long and short-term planning and across the end-to-end network from customers to suppliers. The RapidResponse platform is uniquely extensible to build, access or connect to custom applications, algorithms and external systems across the supply network ecosystem.

Kinaxis helps customers accelerate value realization with multiple deployment options to go-live in as little as six weeks. These seamlessly expandable options allow companies to start now and focus on the most important initiatives. All based on RapidResponse, these options can grow over time to meet budget, team and change management needs along the digital transformation journey.

"Gartner defines a supply chain planning (SCP) solution as a platform that provides technology support which allows a company to manage, link, align, collaborate and share its planning data across an extended supply chain. It supports demand creation through to the detailed supply-side response and from strategic planning through tactical-level planning. An SCP solution is the planning decision repository for a defined end-to-end supply chain and is the environment in which end-to-end integrated supply chains are managed. It establishes a single version of the truth for the plan data and decisions, regardless of the underlying execution technology environment." 1

The SCP market was worth $5.2 billion in 2019 and is projected to grow at a five-year compound annual growth rate (CAGR) of 7.5% according to the Gartner Forecast: Enterprise Application Software, Worldwide, 2018-2024, 4Q20 Update. 2

According to Gartner, "Leaders demonstrate strong SCP solution vision and execution capabilities. They have a broad, deep and differentiated functionality that addresses a broad range of user requirements. Their coverage across the three categories of planning capability -- configure, optimize and respond -- is good enough, with a good balance across the categories now and/or planned for the future. They have a reasonable range of features to support a user's maturity journey. Their visions for supporting the three paradigms of SCP -- algorithmic SCP, digital supply chain planning and resilient planning -- align with Gartner's vision. When these three paradigms are blended together, they build the foundation to support a Level 5 SCP environment. Leaders anticipate where customer demands and markets are moving and identify how innovative technologies can be applied to planning applications. They have strategies to support these emerging requirements to build a future-proof SCP solution. Because leaders are well-established in leading-edge complex user environments, they benefit from a user community that helps them remain in the forefront of emerging needs." 1

For further information, you can access a complimentary copy of the full Magic Quadrant for Supply Chain Planning Solutions report here.

1 Gartner, Magic Quadrant for Supply Chain Planning Solutions, A. Salley, T. Payne, P. Orup Lund, Feb. 22, 2021

Gartner, Magic Quadrant for Sales and Operations Planning System of Differentiation, T. Payne et al, May 7, 2019; Gartner, Magic Quadrant for Supply Chain Planning System of Record, Payne, Tim, Pradhan, Alex, & Salley, Amber, 21 August 2018

2 Gartner, Forecast: Enterprise Application Software, Worldwide, 2018-2024, 4Q20 Update, Amarendra, N. Gupta, B. Abbabatulla, A. Woodward, C. Pang, C. Roth, E. Hunter, J. Hare, K. Quinn, J. Poulter, Y. Dharmasthira, J. Kostoulas, December 22, 2020

Gartner Disclaimer:

Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Kinaxis Inc.

Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, visit Kinaxis.com or follow us on LinkedIn or Twitter.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include statements as to Kinaxis' growth opportunities and the potential benefits of, and demand for, Kinaxis' products and services. These statements are subject to certain assumptions, risks and uncertainties, including our view of the relative position of Kinaxis' products and services compared to competitive offerings in the industry. Readers are cautioned not to place undue reliance on such statements. Kinaxis' actual results, performance, achievements and developments may differ materially from the results, performance, achievements or developments expressed or implied by such statements. Risk factors that may cause the actual results, performance, achievements or developments of Kinaxis to differ materially from the results, performance, achievements or developments expressed or implied by such statements can be found in the public documents filed by Kinaxis with Canadian securities regulatory authorities. Kinaxis assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

Entrepreneurialism alive and well in the time of the pandemic - Brand Spur
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