Vellayan Subbiah, EY Entrepreneur of the Year™ winner 2024

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1. Setting the world in motion

From left to right: Stasia Mitchell, Vellayan Subbiah, and Carmine Di Sibio, pose for a photo in front of background with EY logo

June marks the EY World Entrepreneur Of The Year™ celebration in Monaco, honoring innovative minds from around the globe. And this year’s Class of 2024 finalists, representing 47 countries, have just competed for the ultimate title. They’re not only driving economic growth; they’re reshaping the world through financial inclusion, talent empowerment, women’s advancement, sustainability, and creative ventures. These entrepreneurs, alongside millions worldwide, are architects of a brighter future. While their impact is significant, these finalists are part of an even larger movement: the millions of entrepreneurs who are reshaping our world for the better. Entrepreneurs matter hugely — not only because they are the lifeblood of innovation and economic growth, but because they are the architects of tomorrow, constantly pushing boundaries to create a more prosperous world. EY World Entrepreneur of the Year is more than an event; it’s a celebration of their transformative spirit. How do you think entrepreneurs are changing the world?

5 ways entrepreneurs are changing the world for the better

2. Empowering tomorrow

2 women sitting on a couch talking to another woman sitting on chair in a modern office setting

«Future-fit leadership» is the new mantra for success. It’s a modern twist on leadership that values adaptability, foresight, and resilience. Think of it as being a strategic visionary, always ready for the next move, proactively navigating tomorrow’s challenges today. For female entrepreneurs, this concept isn’t just relevant; it’s a natural extension of their inherent strengths. They’ve long exemplified versatility, skillfully managing diverse roles with finesse. Future-fit leadership amplifies these qualities, empowering them to innovate and lead with a unique blend of insight and determination. This leadership style isn’t merely a trend for these enterprising women; it’s a powerful catalyst for change. It encourages breaking new ground, establishing innovative benchmarks, and fostering industries with a forward-thinking approach. As the business landscape evolves, these visionary leaders are at the forefront, driving progress and advocating for a more inclusive, dynamic business culture. So, to the female entrepreneurs out there: embrace the future-fit mindset wholeheartedly. It’s more than a leadership style; it’s a comprehensive philosophy that can elevate your impact and propel your business to new heights…

Future-fit leadership: A beacon for female entrepreneurs

3. Entrepreneurial kaleidoscope

Saloma bridge lit up at night with pink and blue lights

From an Olympic medalist to a music producer, and with careers spanning law, science, technology and more, there’s no doubting the diversity of experience and backgrounds of the entrepreneurs that represented Asia-Pacific at this year’s World Entrepreneur Of The Year™. Together, these individuals have generated a combined revenue of over US$5.5 billion and employed more than 14,000 people. Their journeys aren’t just about the numbers; they are a source of inspiration, embodying the spirit of tackling challenges, creating job opportunities, and driving innovation that inspire countless others. The Asia-Pacific region has long been a breeding ground for some of the world’s most groundbreaking entrepreneurs. Did you know: an entrepreneur from Asia-Pacific has been named the winner six times in the program’s history?  Meet the 10 entrepreneurs that represented Asia-Pacific this year…

Celebrating the strength of entrepreneurship in Asia-Pacific

4. Are entrepreneurs prepared for the second half of 2024?

One woman on rollercoaster as it goes upside down

As entrepreneurs, how do you handle the twists and turns of today’s business world? The key lies in finding the sweet spot between short-term goals and long-lasting value, according to recent EY research. For entrepreneurial leaders, having a keen eye on the horizon and being ready for anything is necessary. It’s not just about reacting anymore – the real winners are the ones who are planning ahead, whether it’s keeping tabs on global trends, staying ahead in tech, or even factoring in climate change issues. In the realm of modern business, these visionary enterprises demonstrate a remarkable ability to swiftly adapt to sudden market shifts while continuously refining their operations to foster sustained expansion. To transcend the perpetual cycle of strategic reassessment, entrepreneurial entities must prioritize agility, flexibility, and resilience. These attributes serve as the cornerstone for thriving amidst the complexities of the 2024 business environment. The pressing question for the remainder of this year is: Are you prepared to integrate these qualities and turn potential challenges into avenues for success?

What entrepreneurial businesses should look out for in 2024

5. Change is the only constant

Bar graph titled: Top 10 Entrepreneur challenges. Inflation 41%, Cybersecurity 30%, Global conflict 27%, Supply chain issues 24%, Political instability 23%, Competition 22%, Regulation 20%, Wage growth 20%, Cash flow 16%, Capital access 14%

Entrepreneurship is thriving in today’s uncertain market, offering dynamic opportunities amidst economic challenges. From startups to global giants, businesses are navigating inflation and uncertainty while embracing new technologies like Generative AI. Hungry entrepreneurs excel in this environment, adapting quickly and spotting opportunities amid disruption. But here’s the thing: even with the opportunities, entrepreneurs are feeling the pressure to adopt AI. And taking on a major digital transformation can’t be possible without good people. As AI shakes up the business world, digital upskilling is taking the spotlight as the top talent concern. Entrepreneurs are all about beefing up their teams with talent who know their way around tech and can roll with the punches. So, what’s on entrepreneurs’ minds right now? Basically, it’s all about thriving in a market where change is the only constant.

What entrepreneurs are thinking right now… in 4 graphs

If you do one thing:

Make time for that passion project.

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