News in brief: entrepreneurship, Duty of Care, business trips

News in brief
News in brief

Entrepreneurship on the rise globally

Around 66% of adults see entrepreneurship as a good career choice, and more than half of the working-age population feel they have the ability to start a business.

This is according to the Global Entrepreneurship Monitor (GEM) 2015 Global Report released with sponsors Babson College, Universidad Del Desarrollo, Universiti Tun Abdul Razak, Tecnológico de Monterrey, and the London Business School.

The majority of entrepreneurs worldwide are fueled by opportunity rather than necessity. They make up 78% of those in innovation-driven economies, and 69% in factor and efficiency-driven economies.

“It is often a misperception that most entrepreneurs in less-developed economies are necessity-motivated,” said Babson College Professor and report lead author Donna Kelley. “The reality is that entrepreneurial opportunities of all types exist in every part of the world, and there are ambitious entrepreneurs everywhere with the aspirations to pursue them.”

The proportion of entrepreneurs with medium to high job creation expectations are similar across all development levels, with about one in five entrepreneurs stating that they will employ six or more people.

Entrepreneurs in the United States show higher levels on this measure, with 32% projecting this employment potential. Entrepreneurial Employee Activity (EEA) is highest in the innovation-driven economies, with Norway and Australia reporting the highest EEA rates, at 8 per cent or more of their adult populations.

Duty of Care for staff on business trips

The majority of HR professionals (58%) believe the process of sending employees abroad has got more complicated from a Duty of Care perspective over the past 12 months.

New research commissioned by Collinson Group has found that, at a time of heightened global travel risks, more than half (54%) believe the process of sending employees abroad will get even more complicated and difficult over the next 12 months. Just 7% said that the process will not get more complicated.

Key findings from the report include:

  • Just 44% ensure staff are issued with company guidelines for travelling on business before they depart
  • Only 38% conduct risk assessments if the employee is going to an area deemed as high risk
  • Of those firms that conduct risk assessments, 58% rely on a simple Google search. Just one in three use reports from a security consultancy or partner. Most (63%) rely on the Foreign & Commonwealth Office website.
  • Over half (55%) think their TMC provides medical and security assistance for employees abroad if an incident occurs and over 40% think these firms handle crisis management and response, when in fact they may not
  • Just 52% of HR professionals think they are wholly responsible for their company's business travel policy and 12% say there is a blend of responsibilities with no overall ownership