Survey among entrepreneurs reveals business growth
A survey of the impact of the current climate on entrepreneurs’ businesses has revealed that a third had increased profit margins during the past year.
The survey was compiled by the University of Hertfordshire, the UK’s leading business-facing university, for Entrepreneurs World, a membership only organisation for entrepreneurs.
Almost 300 respondents from a range of marketing/media, IT, business and construction sectors took part in the survey which was conducted over the past two months by the University and industry partners.
Results reveal that not only did a third of those interviewed have increased profit margins over the past year, but forty-one per cent had experienced revenue growth.
Another key finding was that a full two-thirds were optimistic about the likely growth of their businesses for the coming year with only ten per cent of respondents pessimistic about their prospects.
Nigel Culkin, Director, Centre for Innovation & Enterprise at the University of Hertfordshire, said: “I am not totally surprised by these results. Entrepreneurs are quick to adapt to changing situations. So, today's economic climate is just another challenge to face.
“In larger, more established organisations plans are everything; in younger firms planning is king. So you find entrepreneurs continually tweaking their offering to chart a way through the malaise. If you link that to a general positive outlook, a trait which is often attributed to entrepreneurs, then the future probably does look good.”
Survey of Entrepreneurial Opinion can be accessed at: http://www.entrepreneursworld.biz/layout/showContent.jsp.
The other partners involved in conducting the survey were: Nabarro, Smith and Williamson, The Academy for Chief Executives, Publicis Consultants UK and Ecademy.
For further information, please contact:
Hélène Murphy
Media & PR Officer
University of Hertfordshire
email: h.1.murphy@herts.ac.uk