Bangkok--19 Nov--Brand Now
The much-awaited Entrepreneur Now Awards (ENA) will be announced on November 17th at the Four Points by Sheraton Bangkok, Sukhumvit 15. Over 100 nominations have been received from Thai and non-Thai entrepreneurs in Thailand, representing a wide range of SMEs including tech, F&B, health, fashion, education, FMCG, sports and construction, among others.
This Award is being held to recognize entrepreneurial excellence of Thais and non-Thais in the kingdom As Thailand opens its doors to ASEAN Economic Community (AEC), this award widens the reach to recognize entrepreneurs from more countries and industries operating in the Kingdom of Thailand.
BNOW.org in collaboration with YouGov, a mobile and online focused market research agency, carried out a research addressing entrepreneurship with 1000 Thais and non-Thai respondents based in Thailand during October 2015. Topics varied from their most admired entrepreneurs to their insight on female entrepreneurs. Most of the respondents surveyed are entrepreneurs holding a university degree, have a monthly income varying from Baht 15,000-25,000, are between the ages of 25-34 years, and reside in Bangkok.
When asked which famous entrepreneurs they were most inspired by, 21% of the respondent replied Top Ittipat, the world's youngest billionaire and founder of seaweed snack Tao Kae Noi. He was followed by Thai businessman Tan Passakornnatee (19%), founder of the Oishi Group of Japanese restaurants, while 14% mentioned Apple co-founder Steve Jobs (14%). Others included Mark Zuckerberg of Facebook, Thai industrial estate tycoon Vikrom Kromadit and Thai-Chinese billionaire businessman Dhanin Chearavanont. It was interesting to note that many respondents mentioned Thai entrepreneurs.
When asked which sector the respondents thought were hardest for female entrepreneurs to enter, majority mentioned agriculture, followed by transportation. This could perhaps be attributed to the fact that these businesses are likely perceived as male-dominated. Real estate, technology, and beauty&fashion were other areas that respondents felt hindered the entry of female entrepreneurs. Business sectors that were deemed friendly for female entrepreneurs included education, health or medical services, and food and beverages.
When the respondents were questioned further on what they thought could facilitate female entrepreneurship journey 54% replied knowledge and resources, followed by better networking and family support. Other factors raised included having mentors and role models, encouraging venture capitalists to be more open towards female entrepreneurs and attending startup workshops.
Most of the respondents said they owned at least 1 business and work full time, spending an average of 4 to 7 hours a day working. About 51% said they were at the age of 20-29 years when they owned their first business, followed by 29% who said they were at the age of 30-39 years when they first established their own business. The source of their funding came from personal funds, followed by bank loans, family & friends, crowdfunding and others.
Finally, when asked to share the top 3 places where they have a "eureka moment" when they find or discover something, over 70% replied it was when they were either chatting with friends, at work or on vacation. Others mentioned when in bed, during exercising, and while driving in the car.
"The above findings give an interesting insight into where the entrepreneurs draw their inspiration from most importantly, some of the challenges female entrepreneurs face. We are excited about the Entrepreneur Now Awards taking place on November 17th where winners will be announced and hope that their stories will serve as an inspiration to aspiring entrepreneurs. We want to applaud and recognize entrepreneurs who have embarked on this entrepreneurial journey," said Pacharee Pantoomano-Pfirsch, BNOW's founder and brainchild of The Entrepreneur Now Awards.
YouGov Business Development Director Gerald Ang added that choosing to become an entrepreneur is a difficult road to take with many obstacles. "The infographics' result shows that female entrepreneurs face greater challenges due to the lack of knowledge and resources and a good network. The ENA, therefore, is indispensable, as events like this help them in getting connected to a diverse network with other entrepreneurs from various fields."