A new survey finds Connecticut entrepreneurs are overwhelmingly bullish on starting a new business in the current economic environment.
A larger bi-annual survey conducted by the Entrepreneurs’ Organization (EO), called the Global Entrepreneur Indicator, revealed in Connecticut almost 84 percent of respondents reported a willingness to start a business in their current economic environment.
More than half of Connecticut respondents predicted that the country’s economic outlook would stay the same (51.6 percent), while 25.8 percent predicted improvement and 22.6 percent predicted deterioration.
The survey — which was held from Feb, 1-29, 2016 — predicts the economic outlook and business landscapes, among other statistics designed to identify economic trends in Connecticut as well as globally.
A snapshot of the Connecticut findings includes:
- Job Creation – Connecticut entrepreneurs indicate an increase in full-time staffing levels: 51.6 percent past six months; 64.5 percent future six months;
- Revenue – 77.4 percent of Connecticut entrepreneurs reported an increase in business revenue over the last six months; 83.9 percent 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 percent stayed the same; 25.8 percent reported an increase and 3.2 percent reported a decrease; and,
- Profit outlook – Connecticut business owners are optimistic in capital surpluses in the next six months: 80.6 percent increase; 12.9 percent stay the same; 6.5 percent decrease.
More than 7,000 of 11,000 business owners that comprise EO’s membership responded to the survey with 31 respondents in Connecticut.
