Entrepreneurs will fuel global economies

2014-01-30

A new report published by Barclays today suggests that global economies will fail to flourish unless more entrepreneurs are encouraged to turn their ideas into successful businesses.

Over 75 million young people are now unemployed globally, with some of the highest rates found in developed countries. The World Economic Forum recognises this as a fundamental risk for 2014, listing high unemployment and underemployment as one of the top ten risks in the recent edition of its Global Risks report.

Barclays’ report looks at the implications of the huge structural changes to the global labour market to the workforces of the future. It also highlights the opportunities presented to policy makers and businesses by increasing globalisation, digital communications and the internet to create a modern workforce for the future and foster an entrepreneurial culture.

Speaking at the World Economic Forum at Davos, Antony Jenkins said: “Global economies are experiencing significant changes and challenges – from increasingly scarce natural resources to changing demographics and ageing populations. But these challenges also present an opportunity to create a population that is entrepreneurial by nature and no longer sees problems as obstacles but as opportunities for change and improvement.

Produced by The Economist Intelligence Unit (EIU) in conjunction with Silicon Valley research start-up, Quid, Barclays’ Innovation ecosystems report presents findings and recommendations to support an imminent ‘third-wave industrial revolution’ powered by enterprising young innovators.

Read the full report

Watch a video summary of the report