More new research is out showing the impact of corruption and government regulation on business opportunities in a key emerging market.
Our friends at the Legatum Institute have put together an impressive survey of more than 2,500 entrepreneurs in India, asking them about their motivation, aspirations, and the challenges they face in launching new ventures.
To quote from the Institute’s key findings:
40 percent of respondents have been pressured to pay a bribe. 93 percent say corruption is a problem. 49 percent of respondents say that “jugaad” is “very important” to succeeding in India.
Those same entrepreneurs’ experience with government regulators is no more encouraging:
Government bureaucracy is cited as one of the 3 main reasons businesses fail in India. The majority have favourable views of how well their state and national governments are promoting business. However, government regulations are one of the biggest barriers to starting and running a business in India and one of the most-cited reasons businesses fail in India.
You can grab the full report and findings on the Institute’s website.