Entrepreneurs are altering the global landscape of communities and industries around the world. Where do they currently stand in the world economy, and where are they heading? The Entrepreneurs’ Organization (EO)—a community of 9,500+ leading entrepreneurs in 42 countries—answers those questions in their recent Global Entrepreneur Indicator (GEI) survey!
What is the GEI survey?
Thousands of global EO members answer this semi-annual survey to help the public predict varying trends in business, such as job creation, fiscal performance and the overall economic environment. The most recent March 2014 edition of the GEI survey saw more than 5,500 EO members contribute. These results are decidedly credible since EO members employ 2.2 million workers and account for more than US$565 billion in revenue each year.
What do the results say?
Over the past six months, approximately 68% of surveyed business owners reported an increase in revenue over the previous six months, while 83% predict an increase in the next six months. Furthermore, a little more than 61% of respondents saw an increase in net profit while about 81% are anticipating the same.
Additionally, 55% of participants noted an increase in full-time employees in the past six months, while 67% are anticipating an increase in the next six months. Overall, the GEI survey saw greater than 84% state that they’d be willing to start a business in the current economic environment.
What does this all mean?
Is it possible that businesses and the economy are trending upward? Results from this global report suggest that they are. Globally, the numbers indicate an indisputable positive trend. In all aspects, these businesses have been experiencing growth and are expecting to stay on that course. This can be seen as a refreshing sign for the economy and may be foreshadowing a movement in the right direction.
The GEI studies those who have traveled the entrepreneurial journey, so the depth of knowledge and experience cannot be denied. With such a diverse pool of global entrepreneurs, from varying industries and varying ages, these GEI results provide an interesting scope to analyze the current economic environment.