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Indian Entrepreneurs Predict Improved Economic Conditions In Next Six Months

Optimism in the country runs much higher than the global average of 48.4 percent entrepreneurs having a positive outlook in their respective economies

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Entrepreneurs' Organization (EO), the world's leading peer-to-peer network of successful business owners, has released insights, trends and expectations from its latest semi-annual survey, the Global Entrepreneur Indicator (GEI).

More than 61.8 percent of respondents from India have expressed faith in the economy and expect improvements in the economic scenario in the next six months. Optimism in the country runs much higher than the global average of 48.4 percent entrepreneurs having a positive outlook in their respective economies.

The GEI survey conducted during the month of February 2018, also reports consistently better results and opinions from Indian entrepreneurs when compared to global averages. For the last six months, majority of Indian entrepreneurs, taking the survey, have reported increased business revenue (71.8%) and increased net profit (64.5%) as compared to global figures of 68.7% and 61.9% respectively. Growth in businesses can also be gauged by the increase in number of full-time (59.6%) and part-time employees (36.1%) in the last 6 months as reported by entrepreneurs in the country.

In terms of expected business revenue and net profit in the next six months too, the survey reflects a healthy growth expectation with a high percentage of respondents predicting increased business revenues (81.4%) and increased profits (75.3%) in the coming six months. 72.7% of Indian respondents have also shown a willingness to start a business in the current economic environment, another indicator of their faith in economy and expected growth. In line with global trends, most entrepreneurs aim to focus on improving profits (64.7%) as compared to focusing on employee growth or R&D (12.2%).

The GEI survey, designed to deliver information on job creation, growth in revenue and profit, economic outlook and access to capital, examines the current economic market and realities for entrepreneurs to provide insights across a six-month period.

4,480 member entrepreneurs worldwide participated in the recent GEI survey, of which 510 were Indian respondents. The GEI survey offers global and regional insights on entrepreneurship trends and all respondents participating in the survey are founders of businesses with at least $1 million in annual revenues.

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entrepreneurs economy business