A new quarterly survey of Triangle entrepreneurs finds that they are more optimistic about sales, spending and employment growth entering 2016 than they were in the previous two quarters. But the overall sentiment is still lower than the previous three.
The survey conducted by the NC State Entrepreneurship Clinic produced an index score of 110.77. The data projects attitudes about the first six months of 2016.
Scores the previous two quarters were lower:
- 103.93 for the fourth quarter of 2015
- 107.80 for the third quarter of 2015
However, in the previous three quarters the scores were the highest to date:
- 121.83 for second quarter 2015
- 117.68 for first quarter 2015
- 113.67 for fourth quarter 2014
The survey is called the Quarterly Outlook of Triangle Entrepreneurs (QuOTE).
So what’s going on?
“Over the last year, we have seen a steady decrease and now this upward tick in overall optimism,” Lewis Sheats, senior lecturer of entrepreneurship in Poole College and the director of the NC State Entrepreneurship Clinic, said in releasing the report.
“Overall … this survey is particular useful in detecting trends. Now that we have had a quarter of optimism, we need to be careful to explore why we’ve seen this new optimism after three quarters of decline. That we are now seeing greater optimism we need to look back and spot the antecedents to be able to act accordingly in the future.”
However, looking inside the data entrepreneurs for the most part are very optimistic:
- 88.2 percent expect more sales, up from 83.6 percent the previous quarter
- 61.2 percent expect to add jobs, up from 50.4 percent
- 46.3 percent expect to increase capital spending, up from 43.5 percent
Survey respondents were from companies that average just over six years in age, have an average of six employees, and they acknowledged on average revenue of just under $780,000.
Read more at:
http://entrepreneurshipclinic.ncsu.edu/clinic-research/
