Factors Influencing Youth Entrepreneurs in Thailand
Keywords:
Youth Entrepreneurship, Global Entrepreneurship Monitor (GEM), ThailandAbstract
The purpose of this study is to investigate the influences of antecedent factors toward entrepreneurship of Thai youth and young adults. Encouraging youth entrepreneurship is considered as one of the country’s national policies to solve Thai economics and social problems. Youth entrepreneurship is not only relieving youth’s unemployment problems but also creating more jobs
and innovation that lead to sustainable economic development of the nation. This research paper is based on Global Entrepreneurship Monitor (GEM) data during 2011 to 2015. The 4,480 samples of Thai citizen aging between 18-34 years old are analyzed by the logistic regression technique. The results reveal that the range of psychological factors; self-confidence, opportunity recognition, risk taking and positive attitude toward entrepreneurial occupation, result in positive effect regarding entrepreneurship of Thai youth and young adults. On the one hand, the entrepreneurial networking positively affects only entrepreneurship of young adults (25-34 years old) but not for Thai youth (18-24 years old). There are also a few interesting findings based on demographic factors. Thai female tends to become youth entrepreneurs more than male. In addition, the level of formal education has statistically significant negative relationship with entrepreneurship of Thai youth and young adults, while the level of household income shows no relationship effect toward both groups.
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