On the occasion of Entrepreneur's Day, which is celebrated annually in Russia on May 26, experts from GSOM SPbU presented the data from the monitoring of entrepreneurial activity for 2022/2023. The results of the extensive survey of Russians showed that 29.9% of the respondents expressed a desire to start their own business, which is the highest figure observed since 2006.

Over 2,000 respondents participated in the survey, including working-age residents of Russia between the ages of 18 and 64.

According to the researchers, the highest level of entrepreneurial intentions in previous years was in 2019, but at that time, the figure stood at 14%. In 2021, only 12.4% of Russians showed interest in business. However, over the course of a year, entrepreneurial interest more than doubled to reach 29.9%.

Entrepreneurial intentions refer to people's readiness to start a new company, open their own individual business, or become self-employed within the next three years. Of course, not everyone will follow through with their plans, but understanding the underlying motivations is crucial for predicting business activity in the country.

Olga Verkhovskaya, Associate Professor at the Department of Strategic and International Management at GSOM SPbU and the project leader of the "Entrepreneurial Activity Monitoring. Russia 2022/2023," stated that another important change noted by the researchers at GSOM SPbU is the increase in entrepreneurial intentions among those who are not currently engaged in entrepreneurship. Previously, it was primarily business owners who expressed plans to start another business. However, since 2019, the growth in entrepreneurial intentions has been driven primarily by those who do not currently have their own business.

According to the experts from GSOM SPbU, the increase in motivation to start one's own business may be attributed to the increasing attractiveness of a career as an entrepreneur, the status associated with it, as well as active development of programs supporting aspiring entrepreneurs. In addition to the availability of business opportunities in the market, the perceived ease of starting one's own business also has a significant impact on entrepreneurial activity. In 2022, 51% of the respondents in Russia stated that starting a business was easy.

The monitoring revealed that many people aspiring to start their own business consider their knowledge and skills sufficient for entrepreneurial endeavors, with 44.7% of the respondents holding this opinion.

The "Entrepreneurial Activity Monitoring. Russia 2022/2023" study is based on the methodology of the Global Entrepreneurship Monitor (GEM) project. Its main distinction from other quantitative entrepreneurship studies is its focus on individuals, their perceptions, and involvement in entrepreneurship, rather than solely relying on publicly available data on the number and size of companies. The report will be published on the GSOM SPbU website.

The highest level of entrepreneurial intentions is observed among individuals who combine work and study, with over half of the respondents in this group planning to start a business in the next three years. Students rank second in terms of entrepreneurial intentions, followed by individuals actively seeking employment.

The level of entrepreneurial intentions is higher among men, with 37.5% expressing their intention compared to 25.1% of women. Additionally, experts from SPbU noted that the desire to start a business decreases with age. Among respondents aged 18 to 34, 44% stated their plans to start their own business in the next three years, while 30% expressed the same intention in the age group of 35 to 54. In the 55-64 age group, only 8% of respondents reported plans to start a business.

Please note that the information provided is based on the data and analysis conducted by the experts at St. Petersburg University.