More than 85 percent of Entrepreneurs’ Organization Detroit members — 129 business leaders who collectively generate $1.4 billion in annual sales and oversee more than 7,500 employees — would start a new business in today’s economic environment, according to a new survey.
The biannual survey found that, over the last six months, more than 71 percent of respondents experienced an increase in profits; 73 percent reported an increase in total revenue; and 65 percent reported an increase in the number of full-time employees.
“We are proud of our significant business and employee growth here in southeast Michigan over the past six months,” says Kristina Marshall, president and CEO of EO Detroit in Southfield, which hosts a variety of business-related events as well as networking sessions with subject matter experts.
Looking forward, 73 percent of EO Detroit members predict an increase in profitability; 77 percent predict a rise in total revenue; and 63 percent predict they will add new full-time jobs in the next six months. Conversely, 33 percent of global EO members predict an increase in full-time employees at their companies.
“It’s great to be playing such an impactful role in the region’s economy,” says Marshall, CEO of Winning Futures, a nonprofit organization in Warren that empowers students through life skills mentoring programs. “We are also proud that our numbers are stronger than both the national and global averages.”
To read the full survey, click here.