SCHOOL La Trobe Business School, La Trobe University COUNTRY Australia SIDE HUSTLES WORTH ALMOST AUD$10 BILLION
S o-called ‘s ide hustle’ businesses in Australia number more than 315,000 and are worth an estimated AUD$9.8 billion (c$6.4 billion) to the economy, according to a study from La Trobe Business School, Melbourne. Defined as ‘hybrid entrepreneurship’ in the study and referring to those pursuing paid employment and entrepreneurship simultaneously, the research also indicates that approximately 24 per cent of all Australian entrepreneurs start their businesses while still in a full-time job. “Hybrid entrepreneurship provides an option to supplement personal or family income and provide social upliftment and wellbeing,” said lead researcher and professor of entrepreneurship at La Trobe Business School Alex Maritz. “Not only can individuals increase their income, they can also learn new skills and gain experience. Hybrid entrepreneurship is an excellent way for aspiring entrepreneurs to ‘test the waters’ of self-employment.” Maritz noted that the pandemic and ongoing economic difficulties accelerated the side-hustle trend. He also said the findings showed that risks, such as overstretching existing time commitments, were outweighed by the benefits. Indeed, individuals who are more risk averse are more likely to opt for a side hustle than full-time entrepreneurship. The study was published in a special issue of Administrative Sciences . TBD
THE NEEDS OF NATURE WARRANT GREATER INVESTMENT
nature. Investors stand to benefit greatly from nature investments – whether for resilience, portfolio diversification or cost reduction efforts,” said report author and CCFI research fellow Pernille Holtedahl. Sustainability-linked bonds (SLBs) offer one route to further investment, according to the report. SLBs to the tune of $73 billion were issued globally in 2022 and are designed to tie organisations to specific sustainability commitments, with penalties incurred for missed targets. Drawing on cases studies from Malaysia, the report recommends that SLBs are administered with credible and verifiable key performance indicators. The report, Nature Investment as a Response to the Climate Crisis: Opportunities in Southeast Asia , also cautions against basing investment cases for nature around carbon credits, arguing that the goal should be the long-term incorporation of nature benefits into broader corporate investment decisions. TBD
N ew means of enticing private sector investment are needed to fund nature restoration projects in Southeast Asia that could cost up to $200 billion. That’s according to a new study from researchers at Imperial College Business School’s Centre for Climate Finance & Investment (CCFI). It argues that investing in nature projects of this kind offers a logical and powerful response to the climate emergency in Southeast Asia, where a number of economies SCHOOL Imperial College Business School COUNTRY UK
are underpinned by nature. “Climate change is already impacting Southeast Asian
economies and, together with the risk of ecosystem collapse, provides a strong motivation for investing in
8 Business Impact • ISSUE 3 • 2023
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