ENTREPRENEURS’ ORGANIZATION NEWS RELEASE
More than three quarters of Reno-Tahoe area entrepreneurs experienced an increase in revenue in the past six months, according to a recent survey conducted by The Entrepreneurs’ Organization. Reno Tahoe leads against global entrepreneurs, with 75% of Reno Tahoe stating their business had increased revenue in past six months, 17% have stayed the same and 8% have seen a decrease in revenue. This compares to global results of 68% seeing an increase, 20% staying the same and 12% having decreases.
Reno Tahoe entrepreneurs are on par about what the future holds compared to their counter parts in other corners of the globe, according to the Global Entrepreneur Indicator survey. In its recent survey of more than 2,000 business owners globally, the Entrepreneurs’ Organization found that Reno Tahoe entrepreneurs are relatively consistent with other regions globally in nearly every category surveyed. The average revenue of the companies surveyed globally is $18.3M annually and they employ an average of 192 full-time employees.
The survey states 58% of entrepreneurs in Reno Tahoe reported having increased their number of full-time employees in the past six months and 50% predict they will continue increasing their full-time employees in the coming six months. 58% of Reno Tahoe entrepreneurs reported having increased their number of part-time or contract employees during the past six months and the same percentage (58%) predict they will increase the number of part-time or contract employees during the next six months. “This is great news for our region,” stated CEO of Talent Framework and EO Reno Tahoe President, Steve Conine. “We’re seeing some very encouraging signs from Reno Tahoe’s entrepreneurs, which is needed in our region. A high tide will float all boats. We need local entrepreneurs to start to raise the waters.”
In what is perhaps a related statistic, finances are looking up, too. 92% of Reno Tahoe entrepreneurs predict an increase in net profit during the coming six months, while only 8% see profit decreases. (0% stayed the same). “Both business performance metrics and attitude-related factors are trending positively, which bodes well not only for the regions business community, but also the state’s economy as a whole. Entrepreneurs are the main job creators, so any encouraging signs coming out of this sector is certainly great news,” stated Laura Partridge, President of Creative Concepts Media + Marketing and EO Reno Tahoe Communications Chair.
Doug Erwin, EO Reno Tahoe Philanthropy Chair and Vice President Entrepreneurial Development of EDAWN, says, “These results are just additional support to what I believe is the beginning of Reno Tahoe turning into a vibrant and well supported entrepreneurial community.” These positive markers are adding up to a positive environment in which to conduct business – 58% of the Reno Tahoe entrepreneurs surveyed indicated that they would start a new business right now.
EO Reno Tahoe is part of a global community of more than 8,700 entrepreneurs worldwide with companies exceeding $1 million in revenue. EO Reno Tahoe serves members who have a passionate desire to grow their businesses, to learn from their peers, and to share their experiences with others.
About Entrepreneurs Organization
The Entrepreneurs’ Organization (EO) for entrepreneurs is a dynamic, global network of more than 8,700 business owners in 38 countries. The EO objective is to support, educate, and encourage entrepreneurs to succeed in building their companies. EO meets this objective by providing a continuous cycle of peer-to-peer networking opportunities, world-class learning events, and monthly forum meetings for all members. The output is a well-connected, well-educated and well-balanced entrepreneur with access to the needed resources to thrive in the competitive business landscape. Membership in one of EO’s 122 chapters is by invitation only; the average member is 41 years old with annual revenues of US $18.3 million. For more information, visit www.eonetwork.org.