International Comparison of Entrepreneurial Intention: Comparative survey of Japan, the UK and South Korea

This study clarifies the factors that influence an individual’s entrepreneurial intention in Japan, the United Kingdom (UK), and the Republic of Korea (Korea). Until now, which factors influence entrepreneurial intention have been debated because entrepreneurial intention, in addition to entrepreneurship, is essential for economic growth. However, there is room for further research as to whether such factors are common or unique to Japan. We conduct a questionnaire survey in Japan, the UK, and Korea to elucidate Japan-specific factors of entrepreneurial intention. We find some common factors in Japan, the UK, and Korea, despite Japan-specific factors. For example, entrepreneurial intention is high for individuals who have experience with or interest in side businesses, experience working with or investing in start-up firms, and experience in filing patents. Moreover, while having a family living in the same household increases entrepreneurial intention in the UK and Korea, this relationship is not found in Japan. Furthermore, based on the framework developed by Yoshida and Honjo (2023), we conduct a comparison study of entrepreneurial intention using job change intention as a benchmark. As a result, we find that job change intention is higher than entrepreneurial intention in Japan, entrepreneurial intention is higher than job change intention in the UK, and entrepreneurial and job change intentions tend to be similar in Korea. In the UK and Korea, entrepreneurship and job change are similarly positioned, while in Japan, entrepreneurship and job change are positioned differently. Overall, entrepreneurial intention is lower in Japan than in the other countries, suggesting that factors unique to Japan are behind this low entrepreneurial intention.