The good oil on NZ entrepreneurs

So says The Entrepreneurs Organization (EO) in its latest results from its Global Entrepreneur Indicator research project.

The biannual survey of business owners from around the world focuses in part on performance-related metrics, such as jobs, profits and debt loads, and partly on business climate, including access to capital and economic predictions.

Topline results include:

Jobs: Entrepreneurs are hiring at much faster pace than they were couple of years ago.
• 63 percent of NZ entrepreneurs predict an increase in the number of contract or part-time employees during the coming six months (compared to only 49 percent globally).
• 51 percent of NZ entrepreneurs report net increases to their number of full-time employees during the six months preceding the survey.
• 57 percent of NZ business owners expect to increase their number of full-time employees in the coming six months.

Business environment: NZ entrepreneurs are much more positive about the current business environment than entrepreneurs in other parts of the world.
• In the current survey, 46 percent of NZ business owners expect economic improvement (compared to 33 percent globally).
• Less than quarter (14 percent in NZ and 23 percent globally) of entrepreneurs expect economic conditions to worsen in the coming six months.
• 94 percent of NZ respondents said that access to capital either improved or held steady during the previous six months, with nearly third (28 percent) reporting that it became easier.

Revenue and profit: Though still trending upward, marked regional differences exist, with Europe/Middle East and South Asia decreasing the global average. NZ is performing ahead of the global curve with future predictions for growth looking strong.
• 89 percent of NZ business owners surveyed said they predicted an increase in the net profit over the next six months (compared to 76 percent globally).
• 68 percent of NZ entrepreneurs reported an increase in net profits in the six months prior to the June 2012 survey (compared to 68 percent globally).
• 70 percent of NZ business owners reported increasing revenues during the previous six months, and 78 percent expect increases in the coming six months.

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