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Amway confident in Thais’ entrepreneurial spirit

Amway confident in Thais’ entrepreneurial spirit

MONDAY, February 27, 2017
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Amway today reaffirmed a bright future for Amway Business with findings from a global study that explored people’s view on potential entrepreneurship in 45 countries. 

The company said the positive results from the poll substantiated its operations as a business concept that coincides with global trends, particularly for Thais who were found to have a strong potential to start their own business.
Amway now aims to double the numbers of its Amway business owners in seven years.
Kittawat Ritteerawee, managing director of Amway (Thailand) Ltd, said the uptrend in potential entrepreneurship favourably aligns with the Amway Business concept to help people start their own business with low investment, low risk and robust support. 
“We are therefore confident that Amway Business will go from strength to strength, providing a solid platform for Thai people to thrive as Amway business owners, either as a main occupation or a source of extra income,” he said.
“We hope to increase the number of successful Amway business owners by twofold in the next seven years.
He said Amway recently conducted a survey in 45 countries for the Amway Global Entrepreneurship Report 2016.
“The results confirm our belief with 77 per cent of Thai people having a positive attitude towards entrepreneurship and the confidence in their own abilities to start a business,” Kittawat said.
“Their entrepreneurial potential was also measured using a proprietary methodology designed by Amway to dimension three motivational determinants: one’s desire to start a business, one’s feasibility to start a business, and one’s stability to stand against entrepreneurship pressure.”
“In addition to the economic and social conditions that favour entrepreneurship, perspectives on life and work tend to change favourably: people expect success early in their life so that they can live the lifestyle they love, particularly the young generation. 
“Network marketing therefore emerged as an alternative career path with higher growth potential. Amway has integrated this strength with technology, in line with the government policy, to combine high tech with high touch and turn Amway Business into a more convenient business that the owner can do anywhere and anytime. With this approach, we are confident that Amway will achieve its growth target.”
Asstistant Professor Thanaphol Virasa, a lecturer in entrepreneurship and innovation management at the College of Management, Mahidol University, said: “Thais and Asians have higher potential entrepreneurship than the global average. Among Thais who are younger than 35 years, the positive attitude towards entrepreneurship is likely due to their acceptance and adoption of Thailand 4.0 policy, in which the Thai government seeks to spur industries, focusing on high-growth, high-profit investments.
“Moreover, the government has launched many other incentives, such as financial facilities for new start-ups through state-owned banks, funding from overseas private organisations, tax privileges for small and medium-sized enterprises and supports provided through Startup Thailand project, etc.”
“Network marketing is another business to keep an eye on. The study reveals that the percentage of Thai people who have the confidence in their entrepreneurial potential is quite higher than the global average. Moreover, Thai people have largely embraced social networking into their everyday life, which enables network marketing people to broaden and quicken their conversation, in addition to the high growth opportunity spotted in the future trend.”