EY says 54% entrepreneurs to drive global workforce on innovation, new markets in 2013

Job SeekersMore jobs are expected to be created globally by entrepreneurs driven by innovation and emerging new markets, according to a new research published February 14, 2013.

Ernst & Young’s research “Global jobs creation” indicated that more than half of the 600 plus major entrepreneurs across the world surveyed said they expect to increase their work force in 2013 – with the numbers showing remarkable similarity across the Americas, Asia-Pacific and Europe, Middle East, India and Africa.

All these jobs will be made available amidst uncertain global economic environment and high levels of unemployment as many of the world’s most successful entrepreneurs continue to grow their business and are expanding their workforce, the research noted.

It says “nearly three quarters of the entrepreneurs who are all former Ernst & Young Entrepreneur Of The Year winners and had a collective 18% revenue growth rate in the past two years as well as employing over 304,000 people in 51 countries, reported they had raised headcount in 2012.”

EY explains that innovation plays an essential role in helping these entrepreneurs create new jobs and beat the competition.

“Nearly 90% of respondents across a wide numbers of industries agreed that innovation was the one genuine differentiator and advantage they have over the competition,” it said.

EY added that more than half of those surveyed (54%) said they expect growth to continue in 2013 and nearly half (44%) say they have a structured process in place to drive innovation, while 41% said innovation is an unstructured spontaneous process.

“Clearly entrepreneurs are not taking a wait-and-see attitude to growing their businesses, but moving right ahead,” says Maria Pinelli, Global vice Chair, Strategic Growth Markets for Ernst & Young.

Despite all the bullish news, entrepreneurs said they are in desperate need of attracting individuals with the right skills and talent to fill their need, the EY observed.

Specific skills in greatest demand are industry knowledge (57%), sales and marketing (25%), and management/leadership (22%), it added.

“The business world is crying out for specific talent. Technical expertise is essential, but what really matters is the capacity of the candidate to transform ideas into actions that will keep their industry well ahead of the pace of market change,” said EY’s Pinelli.

By Ekow Quandzie

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