While gloom and doom surrounds much of the economy, don’t include most executives running emerging companies with revenues of over $1 million.
A survey of Triangle entrepreneurs by the local chapter of the Entrepreneurs Organization finds that the vast majority of executives responding to a survey expect to increase profits this year.
That’s a whopping 83 percent,
Another 78 percent say they are likely to add employees.
Over the last six months, 67 percent of these firms had already increased hiring.
However, their optimism about the national economy is not as bright. Some 72 percent say they expect economic conditions to remain the same or improve in the coming six months.
The new data comes from the Global Entrepreneur Indicator, which is based on a survey of the organization’s 8,000 members spread across 40 countries.
The Triangle chapter includes 40 firms that have achieved at least $1 million in sales and represent 3,644 employees while generating $327 million in sales.
“This data is yet another example of the strength of the Triangle’s entrepreneurial community,” said Matt Zemon, the communications chair for the EO Raleigh-Durham chapter. He also chief executive officer of American Support.
“Despite continued concerns about the global economy, our members continued to create jobs and achieve real success,” Zemon added. “To do so during a time of economic uncertainty and through one of the most contentious presidential elections in our nation’s history speaks volumes about the entrepreneurial spirit here in our community.”