Global Entrepreneurship Survey Reveals Continued Business Confidence
-- More than half of 7,000 entrepreneurs in 48 countries, and nearly 3,000 in the U.S., reported an increase in full-time jobs, business revenue and net profits --
ALEXANDRIA, Virginia, March 23, 2016 /PRNewswire/ -- The March 2016 Global Entrepreneur Indicator (GEI), a semi-annual survey conducted by the Entrepreneurs' Organization (EO), revealed the latest short-term economic findings from 7,034 entrepreneurs in 48 countries. Compared to the March 2015 GEI survey, EO's year-over-year global data reveals a sustained entrepreneurial optimism across the globe. In the U.S., more than half of the 2,954 businesses surveyed also reported an increase in full-time (60%) and part-time (52%) hiring, entrepreneurs' willingness to start a new business in the current economic environment (87%), as well as substantial improvements in the small business economy, specifically citing continued increases in business revenue (70%) and net profits (65%). The March 2016 GEI report also cites the top 20 U.S. locations where entrepreneurs reported full-time hiring increases during the past six months.
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Survey findings reveal that business sentiment has remained positive in the U.S. and across the globe during the past 12 months. While 63% of business owners reported increased profits in March 2015, 70% of business owners reported profit increases in March 2016. Globally, 55% of entrepreneurs reported increased hiring in the past six months, 65% reported increased business revenues and 59% have reported an uptick in net profits.
The March 2016 GEI survey gauges other business insights related to the Global and U.S. entrepreneurial economy:
- While 69% of U.S. respondents are predicting increased full-time hiring in 2016, roughly 51% of entrepreneurs globally are predicting the same.
- In the U.S., 84% of entrepreneurs are predicting increased business revenue and net profits (81%) in the next six months. Globally, 78% of respondents are predicting increases in business revenue and 76% are predicting increased net profits.
- When gauging economic outlook, 77% of U.S. entrepreneurs expect the country's current economic environment to improve or stay the same, while 70% of entrepreneurs globally revealed a similar market sentiment.
The Entrepreneurs' Organization (EO) is a global, peer-to-peer network of more than 11,000 influential business owners in 155 chapters and 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.
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