Entrepreneurship on the rise in Australia but females getting left behind
New Regus research reveals top sectors for entrepreneurism and tips for boosting biz innovation
Australia, 23 June 2014 – According to a survey by global workplace provider Regus, released today, 77% of Australian business professionals reported an increase in all types of entrepreneurship in the past five years but only 11% saw this amongst females.
With more businesses realising the importance of nurturing innovative entrepreneurs in their business, or “intrapreneurs”, to help drive growth, the top strategies to foster innovation within the business include: skills updating programmes (51%), mixing staff from different functions (45%) and giving staff the opportunity to work across locations or to their own schedules through flexible working (41%).
More small businesses reported seeing an increase in entrepreneurship, with 80% of small companies (0-49 employees) stating this, compared to 65% of large (250+ employees). More small businesses said they were seeing more female-led entrepreneurship (12%) compared to large companies (8%).
The sector identified as holding the richest potential for new business ideas was IT systems and software, with 56% reporting this. This was followed by consultancy and business services (40%) and financial services (23%). Only 8% believed that the telecoms field holds strong potential.
Other key findings show:
- 27% of respondents report formal innovation programmes are a key innovation driver;
- 11% reported a rise amongst serial entrepreneurs
- 38% reported that access to senior management was key to helping cultivate innovation
- The highest sector for seeing entrepreneurial growth in the past five years was media and marketing, with 92% reporting an increase.
Commenting on the results, CEO of Regus Australia and New Zealand Paul Migliorini said: “Businesses in Australia and around the globe are catching on to the powerful innovative drive of entrepreneurs, or intrapreneurs within companies, so we need to keep up to date with the pace that this is increasing. In order to do this, businesses need to ensure agility to foster and promote workplace innovation. A key way to do this is through flexible working and allowing employees to take more control of their work:life balance. It’s also a great way of encouraging employees to mingle with others in different environments and locations. Flexibility and diverse inputs can really help employees think outside the box and seek out innovation.
“Australia is a flourishing entrepreneurial culture and one that will hopefully start to include more females. However, we won’t see more female participation unless the country supports it. Businesses should be doing what they can to promote all types of entrepreneurialism to keep up with landscape but even more so amongst women in order to create a more balanced field. Though this may be a long way off, I believe it can be achieved."
The research canvassed the views of more than 19,000 senior business people and owners in 98 countries.
Regus is the global workplace provider.
Its network of more than 2000 business centres in 101 countries provides convenient, high-quality, fully serviced spaces for people to work, whether for a few minutes or a few years. Companies like Google, Toshiba and GlaxoSmithKline choose Regus so that they can work flexibly and make their businesses more successful.
The key to flexible working is convenience and so Regus is opening wherever its 1.5million members want support - city centres, suburban districts, shopping centres and retail outlets, railway stations, motorway service stations and even community centres.
Founded in Brussels, Belgium, in 1989, Regus is based in Luxembourg and listed on the London Stock Exchange. For more information, please visit: www.regus.com.au