Recent Entrepreneurs’ Organization (EO) Global Entrepreneur Indicator (GEI) survey results indicate that Connecticut entrepreneurs feel comfortable starting new businesses in the current economic environment.
The GEI is a bi-annual survey that provides data about metrics including job creation, profit outlook, and access to capital from business owners in Connecticut and all over the world. The U.S. sampling of the Entrepreneurs’ Organization’s March GEI, which was taken by nearly 3,000 entrepreneurs, reveals the current state of the U.S. business landscape and the country’s economic health, among other statistics designed to indicate economic trends, promote fiscal growth, and strengthen communities.
The survey, which took place from February 1–29, 2016, found that 83.9% of EO Connecticut respondents were willing to start a business in their current economic environment. In addition, more than half of Connecticut respondents predicted that the country’s economic outlook would stay the same (51.6%), while 25.8% predicted improvement and 22.6% predicted deterioration.
A summary of the Connecticut findings includes:
- Job Creation—Connecticut entrepreneurs indicate an increase in full-time staffing levels: 51.6% in the past six months and 64.5% future six months.
- Revenue—77.4% of Connecticut entrepreneurs reported an increase in business revenue over the last six months. 83.9% of Connecticut entrepreneurs predicted an increase in business revenue over the next six months.
- Access to Capital—Connecticut respondents reported increased funding opportunities during the past six months. 71% stayed the same, 25.8% reported an increase, and 3.2% reported a decrease.
- Profit Outlook—Connecticut business owners are optimistic in capital surpluses in the next six months: 80.6% increase, 12.9% stay the same, 6.5% decrease
About the Entrepreneurs’ Organization Connecticut Chapyter
The EO Connecticut Chapter, which was founded in 1999, is comprised of a peer-to-peer network of 46 influential business leaders representing a wide range of industries including financial services, technology, construction, food/beverage, healthcare, law, manufacturing, marketing/PR, and real estate.
Every Connecticut respondent to the survey is the founder of a business with at least $1 million in annual revenues, with average member revenues of $8.97 million. The average number of employees at Connecticut respondents’ companies is 34.