Looking for a job? Be sure to check startup websites – many are planning to hire big time in 2016. And they are hard pressed to find top talent.
Yes, he bulls – not bears – are dominate among startup CEOs, according to a first of its kind survey conducted by Triangle investment firm Bull City Venture Partners.
In an exclusive Q&A, partner Jason Caplain talks about the findings – and what they mean. (Read more at: CEOs say 2016 will be a “great year.”)
A key point is job growth.
“Companies we surveyed want to increase their headcount by 38 percent in 2016,” Caplain tells The Skinny.
Most in demand?
Sales.
That’s clearly an indicator these startups and emerging companies have products to sell and are ready to expand.
Next in demand: Engineers followed by marketing (another sign of increased expansion efforts), customer service and product development.
BCVP unveiled the results of its survey in RTP on Monday at an investors program that took place ahead of the firm’s annual meeting today. The survey included more than 200 tech CEOs that Caplain and partner David Jones contacted through email. While BCVP has conducted surveys in the past, this was the first done for general consumption.
And the findings were overwhelmingly positive, not just for hiring. In fact, one of the biggest problems is finding good people, the CEOs said.
Investment capital also may be a bit harder to come by. 2015 was a whopper of a year with more than $1 billion drawn from a variety of sources across North Carolina. VC capital at $675 million was the highest since the “dot com” boom days.
First quarter data is due out this week from various sources, but a review of SEC filings by WRAL TechWire published earlier this week indicates 2016 is off to a good start.
Nearly 60 percent of the CEOs surveyed say they intend to raise money this year, with 40 percent of those aiming for $1 million to $5 million.
Another 12 percent are aiming even higher, targeting between $5 million and $25 million.
Most CEOs also are optimistic about growing revenue.
What are the challenges?
Revenue growth followed by hiring, customer churn, raising follow-on capital, competition and the national/global economy.
Read more from Caplain in a Q&A.
