Disclosure: Legatum is a funder of Global Integrity
The Legatum Institute’s latest survey dives into India’s expanding field of start-up businesses, asking Indian entrepreneurs where their motivation comes from and what the top hindrances are to business creation.
The results show a group of enthusiastic and creative individuals who attribute their success more to their families than to market forces or government policies. Responses from more than 2000 individuals highlight social impact as a top reason for starting a business. Meanwhile, government regulation and the likelihood of paying bribes were cited as barriers (and sometimes deal-breakers) to success: 40 percent of respondents have been pressured to pay a bribe and 93 percent identify corruption as a major problem, according to the data.
We don’t want to run any spoilers here, but Global Integrity will release a national-level assessment of India in February, as part of the Global Integrity Report: 2009. Stay tuned for more anecdotes on how regulatory frameworks impact the ease of doing business in India, as told by in-country experts.
— Norah Mallaney