New Jersey Entrepreneurs are Thriving Despite Uncertain Global Economy

On Nov 1, 2016

New Jersey businesses are hiring more employees, earning increased revenues, netting more profits and reporting a lower use of debt instruments than their global counterparts, according to The Entrepreneurs’ Organization (EO). A semi-annual Global Entrepreneur Indicator (GEI) survey conducted by EO, a global business network of 12,000+ leading entrepreneurs in 160 chapters and 50 countries, examines the current economic market and realities for entrepreneurs and gives insight into their predictions for the next six months.

Notable findings from the past six months include:

• 69.8 percent of New Jersey business owners increased hiring of full-time employees, compared to 55.3 percent globally
• 75.5 percent of New Jersey business owners saw increased business revenue, compared to 65.3 percent globally
• 20.8 percent reported a decrease in the use of debt instruments, compared to 14.8 percent globally
• 92.5 percent of EO New Jersey respondents reported a willingness to start a business in the current economic environment

“Despite uncertainty in the global economy, there has been an increased optimism among New Jersey entrepreneurs over the past six months,” said Harris Wolin, President, EO. “It’s a great time to be a New Jersey small business owner and we expect the remainder of the year to be just as fruitful.”

New Jersey entrepreneurs will continue to soar over the next six months, according to predictors. The GEI report indicates a rise in business revenue (81.1 percent) and net profit (75.5 percent). An improved reliance of full-time employees, who are needed for sustained business growth, is worthy of note.

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