Entrepreneurs hiring at faster pace
By Amanda McGrory
Fifty-nine percent of entrepreneurs say they've added full-time staff as opposed to 42 percent of entrepreneurs who did so two years ago, according to the Global Entrepreneur Indicator from the Entrepreneurs' Organization.
Another 62 percent of respondents say they plan to bring in more full-time employees in the next six months to continue this accelerated hiring. Sixty-six percent of respondents in Latin America and the Caribbean and 60 percent of respondents in the United States report creating jobs, which are the highest regional rates. Of the areas reporting the lowest profit increases are Europe and the Middle East at 53 percent and South Asia at 44 percent. EO believes this is because of the areas’ political and economic unrest.
Regarding the economy, 23 percent of respondents believe conditions will worsen over the next six months, representing a drop from 33 percent six months ago. Conversely, 33 percent of respondent say they expect the economy to improve while 44 percent of respondents anticipate it remaining steady.
Ninety percent of respondents say access to capital has improved or kept consistent over the previous six months, and 31 percent of respondents say it has become easier. With this in mind, 80 percent of respondents say they would be willing to start a new business, which is up from 63 percent six months ago. This marks the highest number reported since June 2010.
Revenues are also growing as 68 percent of respondents say they have seen increasing revenues during the previous six months, and another 80 percent anticipate growth in the next six months.
"We are seeing some very positive signs from the world's entrepreneurial community,” says Jason Jacobs, lead researcher on the Global Entrepreneur Indicator initiative. “Hiring, revenues and profitability are all on the rise, and there seems to be a general optimism about the business climate. Compared to the pessimism we observed in the survey six months ago, the trending seems to be headed in the right direction. Considering the entrepreneurial sector's place as the driver of growth and innovation, any momentum in the right direction is welcome."
Originally published on BenefitsPro.com