Entrepreneurs’ Organization Global Survey Finds Sole Confidence in 2009: The Power of the Entrepreneur

Article by:

Funding, Healthcare Top Concerns; Staying “Green” and Corporate Philanthropy Weather Downturn

ALEXANDRIA, Va. – January 8, 2009 – Facing a global economic crisis that’s projected to continue through 2009, entrepreneurs are concerned about financing, healthcare costs and the impact of the U.S. presidential election, according to the “2009 Entrepreneurs’ Organization Global Economic Forecast Survey” released today. Despite these concerns, entrepreneurs are confident in their ability to survive the economic downturn and their contribution to economic recovery. They also remain committed to staying “green” and continuing corporate philanthropy efforts.

In its second annual survey, the Entrepreneurs’ Organization (EO) – a global network of more than 7,000 successful entrepreneurs – sought to gauge business owners’ outlook and assemble an entrepreneurial forecast for 2009. Nearly 900 members representing EO’s global membership completed the survey, providing an analysis of the most significant business issues for the 2009 calendar year.

“Our annual survey reveals the business perspective of some of the world’s most successful small business owners, and the outlook for this year rings with a tone of optimism in the face of economic hardship,” said Dave Galbenski, Chairman of the Global Board of Directors for the Entrepreneurs’ Organization. “Not only does this data help us provide maximum value to our members by allowing us to better customize our programs and resources to their needs, it serves as an outstanding global barometer for entrepreneurial concerns and priorities in the coming year.” 

Major findings include:

  • Nearly nine out of ten global entrepreneurs are concerned about the current economic climate
  • More than half of all entrepreneurs are very concerned or concerned about obtaining funding
  • Seventy percent of U.S.-based entrepreneurs are concerned or very concerned about the rising cost of providing healthcare in 2009
  • Seventy percent of surveyed entrepreneurs are highly confident or confident about surviving the economic crisis
  • More than 80 percent of those surveyed believe that entrepreneurs will play a significant role in economic recovery
  • One in five entrepreneurs is more likely to start a business now than they were last year, and more than half are equally as likely
  • Almost half of respondents anticipate an increase in revenues in 2009, and a quarter expect revenue levels to remain the same as 2008
  • Globally, more than a third of entrepreneurs surveyed will increase “green” initiatives, while 45 percent will maintain their current commitment level
  • Nearly 60 percent of entrepreneurs surveyed will maintain their current commitment level and nearly a quarter will increase the priority of corporate social responsibility
  • Forty four percent of global respondents anticipated that the Obama administration would have a positive effect on their businesses
  • U.S.-based entrepreneurs are split regarding the new administration’s impact on their business: 39 percent expect a positive impact and 40 percent expect a negative impact

The Entrepreneurs’ Organization survey included 894 respondents who completed the questionnaire in December 2008. Respondents were from all major U.S. geographic areas, as well as Canada, Europe, Asia, Australia and Latin America.

About the Entrepreneurs' Organization (EO)
The Entrepreneurs’ Organization (EO)—for entrepreneurs only—is a dynamic, global network of more than 7,000 business owners in 38 countries. Founded in 1987 by a group of young entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. Membership in one of EO’s 113 chapters is by invitation only; the average member is 39 years old with annual revenues of US$14.4 million. For more information about the Entrepreneurs’ Organization, visit www.eonetwork.org

Conditions of EO Membership Application and Renewal:
Every member who applies or renews their membership agrees to comply with the Policies and Procedures, Bylaws and Code of Conduct of Entrepreneurs' Organization. Current members must complete the online renewal form acknowledging review of the organization's Policies and Procedures, Bylaws and Code of Conduct.

Stay Connected

Fill out the contact information below to receive EO's newsletter.