Entrepreneurs who are not self-taught are finding themselves in a tough spot.
According to a new study by the World Economic Forum, the number of “creative entrepreneurs” has fallen by a staggering 40 per cent in the past decade.
The survey, published in the journal Innovative Entrepreneurship, also revealed that the number and percentage of highly-skilled entrepreneurs has fallen dramatically in recent years.
The report found that the share of highly skilled entrepreneurs in the global market fell from 23 per cent to 10 per cent between 2000 and 2014.
But the share in the less-skilled segment, the report found, has remained unchanged.
In the past 10 years, the percentage of “high-skilled” entrepreneurs has risen from 2.7 per cent of the global total to over 20 per cent.
The findings come as the global economy continues to grind towards recession, with the US and the eurozone suffering the worst economic crises of their lifetimes.
The Financial Times reported that the US has now fallen below the peak of its peak job growth of 9.6 per cent, and the US economy has shrunk by nearly $2 trillion.
The US unemployment rate hit a record 9.3 per cent last month.
But the findings also point to an increasing reliance on high-skilled workers in many parts of the world.
“The challenge now is for creative entrepreneurs to continue to grow and innovate in ways that will lead to greater economic growth,” said the study’s lead author, Andrew Jaffe, a professor of business administration at the Wharton School of the University of Pennsylvania.
The report, which surveyed 2,000 entrepreneurs from around the world, found that more than a third of them said they had found their first job in the last year.
The study also found that nearly a quarter of them were finding work outside of the US.
“Creative entrepreneurship has been undervalued,” Jaffe said.
“It is a really good idea to keep it that way.
It is going to take a long time to figure out how to scale it.”
The study also pointed out that the “high value” of being a “creatively-engaged” person was still “inherently” limited by the lack of access to high-quality training.
Jaffe said it was a “challenge” to find a way to create a “real” skill set for an entrepreneur.
“You cannot have an entire skill set of creative and entrepreneurial skills without having a specific skill set in common,” he said.
He noted that the study also highlighted the importance of ensuring that people were trained in the right areas.
“This means that people need to be in school and have a good skill set,” he added.
The research was conducted by the Institute for Creativity and the Global Innovation Initiative, which are co-led by the Global Entrepreneurs Institute.
It was released in conjunction with the annual Global Entrepreneur Summit, held in New York City on November 10-11.