Recent survey conducted by wisdomjobs.com found that both the employees of public sector and private sector employees to start their own businesses. The survey mentioned that nearly 68 percent of Hyderabad residents would like to be entrepreneurs. Entrepreneurship in the Hyderabad 2016 found that, 68 percent of employees are planning to start their own business, 20 percent mentioned that they have tried past and failed for different reasons and only 10 percent professionals are not yet all interested to start their own business.
Among them 15 percent mentioned that starting a new business is extremely easy with the T-Government initiations such as T-Hub and others and 60 percent mentioned that starting a new business in Hyderabad is a difficult process. In Hyderabad many private sector and public sector employees prefer to start own company revealed by the surveyed participants. More than 50% of the people are interested in IT companies and followed by finance, BPO, recruitment and other related fields.
However, only 69 percent people are ready to start IT companies and 34 percent people interested to start engineering companies and 21 percent are interested to start Pharmacy Company and educational institutions and very few people are interested in remaining sectors. Many people believe that their educational qualities make them to think about starting a company and they will acquire new skills required to run a company. Great pay and work life balance are the major reasons for starting a company.
The survey also found some interesting facts for setting up a new company that 67 percent mentioned for more income, nearly 52 percent mentioned to be self employed and 49 percent will start for personal fulfillment and 38 percent candidate will start for work-life balance.