1. AMWAY EUROPEAN ENTREPRENEURSHIP REPORT Women's entrepreneurship as a remedy for economic slowdown
Dear… , dear guests:
Let me first of all thank you for giving me the opportunity to present the results of Amway’s 2012 European Entrepreneurship Report to you.
Today, I would like to present several key findings on entrepreneurship in Europe and encourage the discussion on female entrepreneurship.
Candan Corbacioglu
Amway Europe Corporate Affairs
Area Manger
Tallinn, Estonia
February 28th, 2013 1

2. AMWAY EUROPEAN ENTREPRENEURSHIP REPORT
The Amway European Entrepreneurship Report …
provides consistent and high quality data
enhances the discussion on entrepreneurship
provides additional data on varying trend topics
empowers potential entrepreneurs.
16 surveyed markets:
12 EU-Members
+ Russia, Switzerland, Turkey and Ukraine
Respondents:
Europe: individuals, aged 14+
Methodology:
Face-to-face and telephone interviews
Why does Amway conduct the European Entrepreneurship Report?
As a leading provider of a low-risk business model for entrepreneurs, Amway wanted to find out more about people’s attitudes towards self-employment in general and – more in detail - about female entrepreneurship.
The Amway European Entrepreneurship Report provides data on an European scale since In 2012, the survey was conducted in 16 European countries (2010: 11 countries, 2011: 12 countries).
There is no other comparable European study on entrepreneurship that is published on a year-to-year basis.
Aims:
Provide consistent and high quality data on people’s attitudes towards entrepreneurship and the potential for self-employment in the respective countries
Enhance the general and political discussion on entrepreneurship and the potential for self-employment
Empower potential entrepreneurs because we all share the strong believe that entrepreneurship can help Europe create growth, jobs, and innovation
How was the Amway European Entrepreneurship Report conducted in 2012?
To realize the survey, Amway cooperates with three strong partners:
Amway provides the practical know-how on people’s needs and society’s interest and heads the initiative
“Entrepreneurship Center” of the Ludwig Maximilians University, Munich (Germany) adds scientific perspective
Polling institute GfK (“Gesellschaft fuer Konsumforschung”) conducts the representative survey throughout Europe
GfK questioned at least people aged 14 and above, from 16 markets which are highlighted in dark blue on the map.
This means a total of participants across Europe.
The survey’s results are representative of the selected countries’ populations.

3. POSITIVE ATTITUDE TOWARDS SELF-EMPLOYMENT. THE GENDER GAP.-4 -2 +3 +2 -7 -1 -5
-13 -6 -9
Self-employment enjoys a positive reputation in Europe. On average more than two thirds (69%) of people show a positive attitude towards self-employment.
There are some countries where women have more positive attitude than men (i.e. Ukraine and Greece).
In some countries there is a parity between men and women (Denmark, UK, Poland, Switzerland).
Nevertheless, in some countries the female attitude towards self-employment is considerably lower than male (I mean Austria, Turkey and Hungary).
In these countries we observe the lowest between positive attitude towards self-employment in general.
On the other hand: Denamark, France, UK, Ukraine and Poland are on top of the ranking.
How women’s perception of entrepreneurship can be improved?
Agreement to statement „I have a positive attitude towards self-employment“

4. WOMEN'S WILLINGNESS TO BECOME AN ENTREPRENEUR
Female entrepreneurs are ready for action!
We first asked people if they could imagine to start up their own business.
The result: 34% of women in Europe can imagine becoming self-employed. This number is comparable to the European average (39%).
Of course there are differences between countries: women in Sothern Europe (Turkey, Greece, Italy, Portugal), in Switzerland and Poland are more ready for starting their own business.
At the bottom of the ranking we have Germany, Austria and Hungary.
Agreement to statement „I can imagine to start my own business“, subgroup women

5. ENTREPRENEURIAL GAP Untapped entrepreneurial potential is very large
(Data for all population)
The difference between the potential and the percentage of people working as self-employed
We have just seen how many people in whole population are quite ready to become self-employed. Thus, the entrepreneurial gap between people that show the desire to become self-employed and people that already own their own business is high (30% in total Europe). The highest score is observed in Poland and Turkey. The lowest gap is in Germany, Hungary, Austria and Romania.
We have not data regarding women but we can of cause discuss whether women are ready to take action and contribute to closing the high entrepreneurial gap?
What could encourage them to be entrepreneurs?

6. MOTIVATORS FOR BEING SELF-EMPLOYED ACORDING TO WOMEN
Independence from an employer, being my own boss
Self-fulfillment, possibility to realize own ideas
Second income prospects
Better compatibility of family, leisure time and career
Return to job market, alternative to unemployment
The ranking of motivators for being self-employed in European women’s opinion is as following:
Independence from an employer, being my own boss (the most important factor)
Self-fulfillment, possibility to realize own ideas (the second most important)
Prospects of earning additional income
Better compatibility of family, leisure time and career
And relatively less important: return to job market, alternative to unemployment

7. MOTIVATORS FOR BEING SELF-EMPLOYED ACORDING TO WOMEN
SPLIT BY COUNTRY
Austria
Denmark
France
Germany
Greece
Hungary
Italy
Poland
Portugal
Romania
Russia
Spain
Swiss
Turkey UK
Ukraine
Independence
Self-fulfillment
Income
Compatibility
Return to job market
Let’s look deeper at factors which encourage women to be entrepreneurial. Here we have split by countries.
Important motivators are shown only.
Independence from an employer and self-fulfillment are present in most countries as important motivators.
Women in Denmark and Greece mentioned all important factors to higher extent than women in other countries.
Prospects of earning additional income are especially important for women in Poland, Romania, Russia, Turkey and Ukraine.
Better compatibility of family, leisure time and career is important motivator for Austrian and Swiss women.
Return to job market was mentioned most frequently by women from Denmark and Greece.
Agreement to statement „I can imagine to start my own business“, subgroup women

8. BARRIERS OF BEING SELF-EMPLOYED ACORDING TO WOMEN
Lack of starting capital
Uncertain economic situation
Fear to fail
Lack of economic know-how
Lack of public funding / support
High administrative difficulties
Lack of business idea
Lack of advice (e.g. by public institutions)
And what are the barriers of being an entrepreneur – in women’s perception?
The ranking of possible obstacles is as following:
Lack of starting capital needed (most common barrier)
Uncertain economic situation (the second most important obstacle)
Fear to fail, being afraid not to achieve success (important barrier)
And relatively less important:
Lack of economic know-how
Lack of public funding / support
High administrative difficulties, bureaucracy
Lack of business idea and lack of advice by public institutions

9. Uncertain economic situation
BARRIERS OF BEING SELF-EMPLOYED ACORDING TO WOMEN
SPLIT BY COUNTRY (1 of 2)
Austria
Denmark
France
Germany
Greece
Hungary
Italy
Poland
Portugal
Romania
Russia
Spain
Swiss
Turkey UK
Ukraine
Lack of economic know-how
Lack starting capital
Uncertain economic situation
Fear to fail
As before, let’s have a deeper look at factors which discourage women to be entrepreneurial. Here we have another split by countries. Important barriers are shown only.
Lack of starting capital is present in most countries regardless of the level of wealth
Uncertain economic situation is also quite common European feeling at the moment
Fear to fail is especially important for women in Austria, France, Germany, Greece and Poland.
Women in Denmark and Greece mentioned all important factors to higher extent than women in other countries.
Lack of economic know-how is important for German women
Agreement to statement „I can imagine to start my own business“, subgroup women

10. High administrative difficulties
BARRIERS OF BEING SELF-EMPLOYED ACORDING TO WOMEN
SPLIT BY COUNTRY (2 of 2)
Austria
Denmark
France
Germany
Greece
Hungary
Italy
Poland
Portugal
Romania
Russia
Spain
Swiss
Turkey UK
Ukraine
No public funding/support
High administrative difficulties
Lack of business idea
Lack of advice
And the remaining barriers split by country:
High administrative difficulties and Lack of business idea are important for German and Polish women
Lack of public funding / public support was more often mentioned by Spanish woomen.
Agreement to statement „I can imagine to start my own business“, subgroup women

11. IMPORTANCE OF ENTREPRENEURSHIP IN TEN YEARS
We also asked women how they think about importance of entrepreneurship in ten years from now.
Majority of women says entrepreneurship will be more or equally important as today.
The ranking of countries is more or less the same as for readiness for becoming self-employed.

12. HOW ENTREPRENEURS ARE PERCEIVED BY WOMEN
in which aspects they do differ from regular employees
have the courage to strike new paths
are autonomous to decide where they work
can manage their time more flexibly
do better networking, are in better contact with people
are better in organizing
are better with money
have better professional skills
attach more importance to education and advanced training
At last, we asked women about the way they perceive entrepreneurs, in which aspects they do differ from regular employees.
In women’s opinion entrepreneurs first of all:
- have the courage to strike new paths
- are autonomous to decide where and how they work
- can manage their time more flexibly
Additionally they are:
- better in networking, have better contact with people
- better in organizing
- better at handling/managing money
Least important ones are: better professional skills and attaching more importance to education and advanced training

13. ACTIVATE FEMALE ENTREPRENEURS AS A REMEDY FOR ECONOMIC SLOWDOWN IN EUROPE
Entrepreneurial potential of women is probably the most underused source of economic growth and of new jobs in Europe!
We need to …
… improve entrepreneurial environment for women
facilitate access to finance
provide sufficient child-care facilities
establish professional networks
… strengthen the entrepreneurial culture
offer better business education
encourage and support women to build a career in entrepreneurship
… fight stereotypes
change perception
tailored made training and networking- role models
The entrepreneurial potential of women constitutes probably the most underused source of economic growth and of new jobs in Europe!
How to make women's entrepreneurship has become a remedy for economic slowdown in Europe?
How can we activate this potential?
First, we need to improve the entrepreneurial environment for women:
- Women often face greater difficulties than men in starting up businesses and in accessing finance and training, thus we need to support them.
- They will only start their own business if family obligations permit them – creating sufficient child-care facilities is thus crucial.
- Although women are better in networking they do not use it for business. Professional networks could help them to gain confidence to start up a business.
Second, we need to strengthen the entrepreneurial culture:
The report shows: Women in Poland feel insecure about their personal skills.
Better education can make women in Poland more self-confident, making them more likely to found their own business
Better business education, also in primary school, can generally uplift concrete entrepreneurial potential and help close Poland’s high entrepreneurial gap.
And last but not least: We need to fight stereotypes.
Women constitute, on average, 30% of entrepreneurs in the EU. Women enterprise successfully but differently than men.
- Programs all over Europe show: Empowerment of female entrepreneurs works especially well through help and advice in special women’s programs and networks for female entrepreneurs.
Business networks establish contacts between women on an equal footage, with corresponding experiences and needs. They also offer possible professional contacts and costumers for newly established companies.
Thank you very much for your attention! Questions and comments are very welcome.

14. Thank you for your attention
Thank you very much for your attention.
Candan Corbacioglu
Europe Corporate Affairs Area Manager Amway Europe 14