Global Entrepreneurship Survey Reveals Nominal Small Business Growth
-- More than half of 3,670 entrepreneurs surveyed in 47 countries reported an increase in business revenue, net profit and full-time jobs in the last six months --
ALEXANDRIA, Va., Sept. 23, 2015 /PRNewswire/ -- The Global Entrepreneur Indicator (GEI), a bi-annual survey by the Entrepreneurs' Organization (EO), was conducted from 1-31 August 2015 and revealed the latest near-term findings of the entrepreneurial economy based on 3,670 business owners in 47 countries, 1,356 of which are based in the U.S. The survey also takes an in-depth look at year-over-year data comparisons from the August 2014 GEI, which had 2,851 survey respondents in 46 countries, 1,355 of which were U.S.-based business owners. Globally, median sales of EO member companies are just under US$5 million with a median full-time workforce of 25 employees.
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When comparing year-over-year data, from August 2014 to August 2015, findings indicate a small uptick in the percentage of respondents who reported an increase in access to capital globally (1%) and in the U.S. (2%). Business owners reporting on debt loads also increased globally and in the U.S. equally year-over-year by one percentage point, which points to continued investment and increased borrowing. In the U.S., 3% more respondents reported an increase in net profits in comparison to last year. Also in comparison to last year, the percentage of entrepreneurs globally who reported increased profits during the last 6 months remained steady at 61%.
Other year-over-year entrepreneurship indicators reveal a slight drop in global and U.S.-based outlook. Business owners globally who reported increased full-time (61%) and part-time (49%) hiring during the past six months, dipped by 3% and 7%, respectively. In the U.S., entrepreneurs who reported full-time hiring dropped by 1% while those who reported part-time hiring dropped significantly by 7%. However, optimism remains high as 90% of respondents in the U.S. reported a willingness to start a new business in the current economic environment, which is a 2% year-over-year increase. Global findings, however, reveal a 2% drop in the percent of entrepreneurs (82%) who reported a willingness to start a business in the current economic environment.
Additional survey findings include respondents' predictions for the upcoming six months:
- While 63% of respondents globally predict an increase in full-time (FT) hiring, 69% of U.S.-based entrepreneurs predict increase hiring in the future.
- In the U.S., while 8 out of 10 entrepreneurs are predicting an increase in net profits, 7 out of 10 are predicting the same globally.
- When gauging economic outlook, while 42% of U.S.-based entrepreneurs expect their country's current economic environment to improve, only 16% expect it to deteriorate.
- Globally, while 72% of entrepreneurs are predicting their country's economic environment to improve or stay the same, less than 3 out of 10 are predicting deterioration.
To learn more about the survey, visit: www.eonetwork.org/global-entrepreneur-indicator.
The Entrepreneurs' Organization (EO) is a global, peer-to-peer network of more than 11,000 influential business owners with 150 chapters in 48 countries. Founded in 1987, EO is the catalyst that enables leading entrepreneurs to learn and grow, leading to greater success in business and beyond. For more information, visit www.eonetwork.org.
SOURCE Entrepreneurs' Organization
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