Opinion | Coronavirus has made the future of entrepreneurship digital, greener and more diverse

Name: Online course on egg tart baking is recipe for pandemic survival for Hong Kong food tour operator
Uploaded: 2021-04-04T08:15:09.000Z
Duration: 4 min 17 s
Description: Online course on egg tart baking is recipe for pandemic survival for Hong Kong food tour operator

As Covid-19 accelerates consumer acceptance of the digital economy and entry barriers fall, more young people will choose entrepreneurship over salaried jobs

They will be the ones creating innovation, ensuring sustainability, and building safe, equitable, strong economies that benefit everyone

Reading Time:3 minutes

Why you can trust SCMP

Technology is creating an environment that is location-independent, mobile-first and social-commerce-centric. The new generation of successful entrepreneurs are already digital nomads. Photo: Shutterstock

Kawal Preet

Published: 4:15pm, 4 Apr 2021Updated: 4:15pm, 4 Apr 2021

The pandemic has had a devastating impact on the US$90 trillion global economy – from job insecurity and rising unemployment to huge levels of stress on people and health-care services. However, we have seen positive developments emerge: small firms tapping into e-commerce for the first time, greater use of technology and more flexibility in the workplace.

For “Generation Next” – young people just entering the workforce wanting to break away from salaried jobs – being an entrepreneur is fast becoming the top option. They will be the ones creating innovation, ensuring sustainability, and building safe, equitable, strong economies that benefit everyone.

We see three key trends shaping the future of entrepreneurship.

First, the model for global entrepreneurship is evolving quickly. The future will be defined by digital and built on agility and resilience. It is these skills that entrepreneurs increasingly need to have – not just critical thinking or problem-solving. The World Economic Forum’s Future of Jobs survey finds rising demand for skills such as active learning, stress tolerance and flexibility.

We have seen how companies that moved quickly during the crisis had a strategic advantage over competitors. Today, people can work and buy goods from anywhere. With millions working from home, firms that delivered fast and exceptional service gained loyal customers.

04:17

Online course on egg tart baking is recipe for pandemic survival for Hong Kong food tour operator

Consumer expectations have changed and people are much more at ease with new technology. The Covid-19 disruption has clearly been a catalyst for digital entrepreneurship, helping to lower barriers to entrepreneurship and making it easier to become a global entrepreneur.

Select Voice

Choose your listening speed

Get through articles 2x faster

1.25x

250 WPM

Slow

Average

Fast

00:0000:00

1.25x