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By Jonathan Crandall
The February jobs numbers reflected an optimism that is shared by Boston-area entrepreneurs.
Recently, the Entrepreneurs’ Organization – a dynamic global network of more than 8,000 business owners in 40 countries with annual revenues exceeding $1 million – surveyed its chapters through its Global Entrepreneur Indicator, and the numbers that came back from the Boston chapter demonstrated quite a bit of economic confidence.
These entrepreneurs have reason to be feeling confident. In fact, 73% of those surveyed reported that their revenues increased over the past six months. In what is an even greater sign of hopefulness, 88% of those surveyed anticipate increased revenues over the next six months. With even more certainty, 81% of the entrepreneurs indicated that they would start a new business in the current economic environment.
The survey also holds good news for those in the job market around the Boston area. Sixty-two percent of the greater Boston entrepreneurs surveyed noted an increase of full-time employees; 50% saw an increase in part-time and contract employees. (Only four percent noted a decrease in the number of employees.) Additionally, 73% of the entrepreneurs predict there will be an increase of full-time employees in the coming six months; 58% see an increase in part-time and contract employees.
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.
Overall, the Boston chapter of Entrepreneurs Organization is looking toward 2012 as a growth year and one where businesses continue to growth and thrive. Sometimes the good news gets lost in the midst of all the national news about unemployment and slow recovery. In Boston, at the entrepreneurial level, optimism is high.
Jonathan Crandall is president of the EO Boston chapter and of J.C. Landscaping. For more information about EO Boston, please visit www.eoboston.org.
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