Global Survey Finds Positive Trends In Hiring, Business Performance For East Tenn. Businesses


MORRIS CREATIVE GROUP LLC
NEWS RELEASE

Contact:
Chuck Morris
[email protected]
(865) 637-9869

FOR IMMEDIATE RELEASE
September 26, 2012

 

Global Survey Finds Positive Trends In Hiring, Business Performance For East Tenn. Businesses

Knoxville, Tenn.—The East Tennessee chapter of Entrepreneurs’ Organization (EO) found positive results from the Global Entrepreneur Indicator research project, a biannual survey of entrepreneurs from around the world.

EO surveyed more than 8700 member entrepreneurs on performance-related metrics, such as hiring trends and net profits, to predict the business environment in the coming six months. This information was tabulated and released as individual chapter reports to compare global and local business results. Highlights from the East Tenn. chapter report include:

Jobs

Entrepreneurs are hiring at a much faster rate than they were several years ago. Globally, 59 percent of entrepreneurs reported net increases to their number of full-time employees in the past six months, and 62 percent expect to see increases in their number of employees in the coming six months. In the East Tenn. region, 40 percent reported net increases to their number of full-time employees in the past six months, 60 percent expect to increase their number of full-time employees in the coming six months.  

Change in Number of Employees

 

Global

East Tenn.

Past 6 Mos.

59%

40%

Future

62%

60%

 

Revenue and Profit

Business owners are seeing increases in their net profits and predict improvements in the coming six months. Sixty percent of entrepreneurs globally reported an increase in net profits in the past six months, and 76 percent expect to see increases in their net profits in the coming six months. In addition, 60 percent of East Tenn. entrepreneurs reported an increase in net profits in the past six months, and a full 75 percent expect increases in the coming six months.

Change in Net Profits

 

Global

East Tenn.

Past 6 Mos.

60%

60%

Future

76%

75%

 

 

Business Environment

Entrepreneurs are much more optimistic about the current business environment than they have been in years. Globally, less than a quarter of entrepreneurs expect economic conditions to worsen in the coming six months, with 33 percent expecting economic improvement and 44 percent believing that conditions will stay the same. East Tenn.  entrepreneurs see similar patterns, but only 10 percent expect conditions to worsen. As a result, 90 percent reported that they would be willing to start a new business right now.

Change in Economic Environment

 

Global

East Tenn.

Improve

33%

30%

Worsen

23%

10%

Stay the Same

44%

60%

 

The survey was conducted throughout the month of June and ended with a sample of more than 2,200 entrepreneurs, whose businesses average $18.3 million in annual revenue with 192 employees.

 

ABOUT THE ENTREPRENEURS’ ORGANIZATION

Entrepreneurs’ Organization is a global business network of more than 8,000 business owners in 121 chapters and 40 countries. Founded in 1987 by a group of young entrepreneurs, EO enables small and large business owners to learn from each other, leading to greater business success and an enriched personal life. Our vision is to build the world’s most influential entrepreneur community, which aligns with our mission of supporting entrepreneurial education and engaging entrepreneurs to learn and grow.

Founded in 1996, the East Tennessee chapter of Entrepreneurs’ Organization has 29 members from Chattanooga to Knoxville to Tri-Cities. Members represent the following local companies: All Occasions Party RentalsARG Financial StaffingBellezaBenchmark Leadership TrainingBlue Gill CreativeBusiness Services & Solutions LLCClaris NetworksDeMoss CapitalDesign Innovations ArchitectsEfficienceES&HGallaherG2 Engineering and ManagementInter-Agency Insurance Service Inc.Lacy Price & Wagner P.C., Kirk Finnerty Residential Properties, Legacy Resource CorporationMorris Creative GroupNature’s Gifts InternationalOdom Construction SystemsRTL TechnologiesStrategic Consulting Solutions Inc.Sword & Shield Enterprise SecurityTennessee Tool & EngineeringUllrich Printing,  Visionary Solutions LLC, and The Vision Group. The entrepreneurs of the chapter lead companies with a combined total of $260 million in sales and 1088 employees. More information may be found on the chapter’s website at http://www.eoeasttn.com and on Facebook at http://www.facebook.com/EOEastTennessee.

 

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