Over 50% of entrepreneurs to ramp up workforce in 2013: E&Y

Notwithstanding the uncertain global economic environment, over 50 per cent of entrepreneurs across the world are planning to increase their workforce this year, a survey by Ernst & Young shows.

According to new research from Ernst & Young titled 'Global Jobs Creation', 74 per cent have raised headcount during 2012 and 54 per cent of entrepreneurs are likely to increase their workforce in 2013.

"Clearly entrepreneurs are not taking a wait-and-see attitude to growing their businesses, but moving right ahead," Ernst & Young Global Vice Chair, Strategic Growth Markets Maria Pinelli said.

"It's fascinating to see this type of success across the board at a time when just about every leading global economic indicator reports modest or no growth," Pinelli added.

Entrepreneurs said they are in desperate need of attracting individuals with the right skills and talent to fill their needs, shows the survey that covered over 600

major entrepreneurs across the world.

Specific skills that are in great demand include industry knowledge (57 per cent), sales and marketing (25 per cent), and management/leadership (22 per cent).

Pinelli further said given youth unemployment problems in the Middle East, North Africa and parts of Southern Europe, there is a huge gap between what rapidly-expanding emerging growth companies need and the skills of the current worker pool.

"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," Pinelli said.

Complete coverage: Union Budget 2013-14

Budget Impact Live!