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Entrepreneurs see WNY business climate improving

Rochester Business Journal
April 14, 2014

The business climate in Western New York is improving, a new survey from the Western New York chapter of Entrepreneurs’ Organization shows.

The Global Entrepreneur Indicator survey shows some 40 percent of EO Western New York entrepreneurs have increased their full-time staff in the last six months, while 73 percent expect to increase employment in the coming six months. That compares with 67 percent of global respondents to the survey.

Some 60 percent of Western New York respondents increased their net profit during the last six months, up from 54 percent in the September 2013 survey. Eighty-three percent forecast an increase in profits in the coming six months, compared with 81 percent of global respondents.

Fifty-seven percent of Western New York respondents reported an increase in revenue since September, while 90 percent predict an increase in the coming six months. Globally 83 percent of respondents expect an increase in revenue.

“Entrepreneurs today have a positive outlook on the future of their business, as show in the results of this survey,” said Tim Scahill, president of the Western New York chapter, in a statement. “Businesses in our rapidly growing chapter are growing themselves, in staff and revenue.”

Some 90 percent of Western New York entrepreneurs forecast no change or an improvement in the economic environment in the next six months, while 83 percent expressed willingness to start a new business.

The Western New York Chapter has 47 members. Their companies employ 1,167 workers.

The Entrepreneurs’ Organization is a global network of more than 9,500 business owners and 131 chapters. The average member is 42 years old with annual sales of $59.7 million.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.


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