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Independent Singapore
24-05-2025
- Business
- Independent Singapore
Ambitious finance professionals in Asia Pacific eye entrepreneurship as career shift looms
ASIA-PACIFIC: Singapore's accounting and finance sectors are experiencing a monumental change, fueled by intensifying entrepreneurial impetus, pressing sustainability requirements, and mounting apprehension over AI abilities. According to ACCA's 2025 Global Talent Trends Survey—the world's prime yearly study of accounting experts—finance occupations are rapidly fluctuating, with consequences for companies, business owners, legislators, and the workforce itself. Entrepreneurship is no longer just an idea that needs embodiment; it has become a vital craving. More than 52% of finance professionals all over Asia Pacific, and 37% in Singapore, said they want to have and run their own businesses. Jamie Lyon FCCA, ACCA's Global Head of Skills, Sectors, and Technology, sees this as a favourable indicator. 'Accountancy training is proving to be an excellent early-career platform for entrepreneurial growth,' Lyon noted. 'Career ambitions are evolving, and with that comes the opportunity to leverage commerciality and innovation in finance roles.' This trend reflects a larger drift – managers and company owners are gradually appreciating business risk-taking ideas not just in small ventures, but also within conventional finance roles. Sustainability careers take centre stage amid AI skills gap Another remarkable finding: Sustainability has become an aggressive focus. In Singapore, 61% of finance pros express solid interest in sustainability-associated functions, positioning with a regional leaning of 71% all over Asia Pacific. Worldwide, virtually half of finance management roles now include sustainability tasks. Simultaneously, apprehensions about being left behind in the AI movement are growing. In Singapore, 65% fear their inadequate AI aptitudes for the future, while only 27% say their organisations are offering AI training. Daniel Leung, ACCA Singapore Country Manager, stressed the immediacy and relevance of this trend. 'We are redefining the Singapore accountancy profession—building not just technical skills, but strategic value. Employers must challenge the status quo and invest in their people to remain resilient.' Retention risks, hybrid work tensions, and a rise in side hustles Employee turnover is high, with 65% of Singaporean professionals and 57% all over the region are either planning or preparing to change roles within two years. More than half anticipate moving beyond their present organisation, leading to grave retention challenges for business owners and HRD managers. Workplace flexibility remains critical—79% of Singaporeans favour hybrid models; thus far, 41% are still compelled to work round-the-clock and on-site. This misalignment threatens detachment and delayed skills advancement. In the interim, mental health issues continue. Over half (53%) of Singaporean respondents say work affects their psychological well-being. Financial strain is also rising, with one in three workers accepting side hustles and 32% expecting salary growth of more than 11% to keep pace with the cost of living. Notwithstanding the turmoil, the accountancy profession remains a gateway to international careers. More than 56% of workers in Singapore wish to explore overseas prospects, highlighting the continuing value of financial know-how in a borderless economic environment.
Business Recorder
18-05-2025
- Business
- Business Recorder
ACCA survey shows high employability for accountants
KARACHI: ACCA's Global Talent Trends Survey - 2025, now in its third year has drawn responses from over 10,000 finance professionals in 175 countries. It has revealed major shifts in career-ambitions, workplace-expectations, and professional priorities in the accountancy profession, around the world, including Pakistan. A key finding is that 52% of finance professionals globally, including 63% in India and 80% in Africa, aspire to become entrepreneurs, highlighting accountancy's role as a gateway to business ownership. Around 62% expect to change roles within two years, with 58% planning to move outside their current organizations, posing a retention challenge for employers. Jamie Lyon, FCCA, noted that 'The report highlights a 'workplace in transition' where accountancy builds strong foundations for entrepreneurship and evolving career paths.' Experts have noted that; Sustainability is another rising priority, with 67% showing interest in environmental-finance careers. Meanwhile, 76% of professionals prefer hybrid work, yet 51% still work entirely onsite. Financial uncertainty persists; as 41% are expecting pay increases of over 11%, due to the cost-of-living crisis. At the same time, half of respondents worry they're not acquiring future-proof skills, and only 42% report their organizations provide AI learning opportunities. Diversity concerns also remain, particularly around age inclusivity, with 45% saying: certain diversity aspects are emphasized more than others. Mental health pressures are easing slightly, but remain a concern, with 52% saying work affects their well-being. Copyright Business Recorder, 2025
Yahoo
14-05-2025
- Business
- Yahoo
More than 50% of finance professionals aim to start own ventures
The Association of Chartered Certified Accountants (ACCA) has released its annual Global Talent Trends Survey 2025, revealing that more than half of finance professionals have entrepreneurial ambitions. The survey, now in its third year, aims to provide insights into the evolving perspectives of accountancy and finance professionals regarding their careers and workplace experiences. More than 10,000 individuals from 175 countries participated in the survey, addressing topics such as career ambitions, hybrid working, inclusivity, upskilling, mental health, and employability. Many respondents view accountancy as a stepping stone to entrepreneurship, with 52% indicating aspirations to run their own businesses in the future. The survey highlighted the growing need for accountants to apply entrepreneurial skills in finance and business roles, where attributes such as commerciality and innovation are highly valued. This year's themes also include sustainability, employability, and hybrid working arrangements. Interest in sustainability-related careers is strong, with 67% of respondents keen on pursuing accountancy roles focused on environmental issues, the report said. Currently, 48% of wider leadership roles below board level and 35% of middle management roles in finance involve sustainability responsibilities. Employability confidence is also high, with 62% of respondents expecting to change roles within two years and 58% anticipating their next role to be outside their current organisation, posing a retention challenge for employers. Additionally, 76% prefer hybrid working arrangements, yet 51% still work full-time in offices. Diversity concerns are evident, with 45% of respondents noting a focus on certain diversity aspects over others, particularly the recognition of older employees. The cost-of-living crisis remains a top workplace concern, with 41% expecting a pay rise of at least 11% in the next year. Skill development is another concern, with half of respondents worried about not acquiring future workplace skills, and 32% reporting opportunities to learn AI-related skills. Mental health indicators show slight improvement, yet 52% still experience work-related mental health challenges. The rise of the 'side hustle' is noted, with 43% of Gen Z and 39% across all generations engaged in additional employment, presenting further engagement and retention challenges for employers. Accountancy continues to be a valued passport to global careers, with 72% of Gen Z and 52% of Gen Y expressing interest in international career opportunities. ACCA FCCA global head of skills, sectors and technology Jamie Lyon said: 'Our 2025 data continues to show a workplace in transition, but one of the exciting themes emerging this year is how accountancy training can be a brilliant early career pathway for building entrepreneurial skills. 'There is no doubt this in part reflects how career ambitions continue to transform at work.' "More than 50% of finance professionals aim to start own ventures " was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
