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While many argue that this is a fundamental principle of financial privacy, it has also permitted extreme abuses by criminals and kleptocrats. AFP PHOTO / POOL / MATT CARDY (Photo credit should read Matt Cardy/AFP/Getty Images)Įlsewhere in the world, owners of private companies can continue to keep that information hidden from public view. G8 leaders on Tuesday threw their weight behind calls for a peace conference on Syria to be held in Geneva 'as soon as possible', after a summit dominated by the country's civil war. summit in the Lough Erne resort near Enniskillen, Northern Ireland on June 18, 2013. This is one more trend toward transparency that we’re not likely to see reversed.īritish Prime Minister David Cameron speaks during a press conference at the conclusion of the G8. The UK law is being mirrored elsewhere in Europe, and many smaller companies are getting out in front of the change by voluntarily identifying their beneficial owners. Many are raising privacy – and even security - concerns, but business people are hoping to see lower risks and better insight into the transactions they contemplate. This is Prime Minister Cameron delivering on his 2013 promise at the G8 Summit to tackle tax evasion and corruption. Beginning in 2016, corporations in the United Kingdom will have to disclose the identity of their beneficial owners. Next up? Ownership of privately-held companies. Today no one, except perhaps the anachronistic leaders at soccer's ruling body, FIFA, finds that strange. Once thought to be a matter of great privacy, many countries now require disclosure of corporate salaries for executives at publicly-traded companies. The 2012 GEM study reported that 15 percent of American men who do not run their own companies intend to start one in the next three years as compared with only 10 percent of non-business-running women.It started with executive salaries. The gap in perceived entrepreneurial skills naturally leads to a smaller fraction of women intending to start businesses. Therefore, it isn't surprising that a recent GEM study reveals that 65 percent of men believe they have ability to start a business, while only 47 percent of women do. The differences in educational choices lead fewer women to develop entrepreneurial skills.

Related: The 7 Most Powerful Women to Watch in 2014 Because studying business and entrepreneurship in college increases the odds of later business ownership, this difference in majors contributes to the entrepreneurship gender gap. And among prospective business majors, male students are nearly four times as likely as female ones to say they intend to focus on entrepreneurship.

While 27 percent of men major in business, only 19 percent of women do, analysis by the American Association of University Women reveals. Women are less likely to study business in college. That gap in entrepreneurial intentions portents continued differences in rates of business ownership among men and women. In 2012, male college freshmen, for example, were more than twice as likely as female ones to report "business owner" as their intended occupation, the Cooperative Institutional Research Program at UCLA indicates. The core problem is lesser interest in business ownership among women than men.