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Boston Entrepreneurs Optimistic About Jobs And Economy Over Next Year, Survey Of EO Boston Shows
Posted February 2, 2012
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Entrepreneurs in the Boston area are generally optimistic about the business climate and what 2012 holds in store, according to survey results recently released from the Entrepreneur's Organization's GEI (Global Entrepreneur Indicator) results.
The GEI surveyed EO Boston, who has an approximate membership of 100 - all entrepreneurs with annual revenues exceeding $1 million - and their findings show that 73% of those surveyed have seen their revenues increase over the past six months. In what is an even greater sign of optimism, 88% of those surveyed anticipate increased revenues over the next six months. In fact, 81 percent of the entrepreneurs indicated that they would start a new business in the current economic environment.
In addition, the survey revealed positive results for those in the job market. Boston-area entrepreneurs reported that over the past six months, only 4 percent saw a decrease in number of employees versus a 62 percent increase of full time employees and 50 percent increase in part time and contract employees. Additionally, 73 percent of the entrepreneurs predict there will be an increase of full time employees in the coming six months as well as an increase in part-time and contract employees, according to 58 percent.
There were also encouraging results regarding entrepreneurs' debt and access to capital. While an equal number of those surveyed reported both increases and decreases in their debt load during the past six months, twice as many entrepreneurs predict they will see a decrease during the coming six months. Regarding access to capital, over 50 percent witnessed an increase in access over the past six months, and 10 times as many entrepreneurs predict they will see an increase in access to capital over the next six months as compared to those who believe they will see a decrease.
"Our chapter is looking toward 2012 as a growth year and one where businesses continue to grow and thrive," said Jonathan Crandall, President, EO Chapter, Boston. He added, "Sometimes the good news gets lost in the midst of all the national news about unemployment and a slow recovery. In Boston, at the entrepreneurial level, optimism is high."
About Entrepreneurs' Organization, Boston
The Entrepreneurs' Organization (EO) - for entrepreneurs only - is a dynamic global network of more than 8,000 business owners in 40 countries. Founded in 1987 by a group of young entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. Membership in one of EO's 120 chapters is by invitation only; the average member is 41 years old with annual revenues of US$17.3 million. The organization is focused on engaging the world's leading entrepreneurs to learn and grow, and proudly counts many of the world's most successful entrepreneurial firms among its membership. The EO Boston Chapter was founded in 1994 and comprises more than 75 members. For more information on EO Boston, visit www.eoboston.org.
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