Global Survey Shows South Florida Entrepreneurs Continue To Grow Businesses, Boost Region’s Economy

4/12/17

Almost 70 percent of business owners in Miami-Dade, Broward and Palm Beach counties surveyed by Entrepreneurs’ Organization (EO) reported higher revenue over the past six months, with 63 percent earning higher net profit and 57 percent hiring additional full-time employees, according to the latest new study from the worldwide economic development institution.

EO’s Global Entrepreneur Indicator (GEI) survey, also showed that South Florida business owners are confident in even greater economic growth in the region. More than 80 percent expect to increase revenue and net profit, and more than 63 percent plan to hire more full-time workers over the next six months.

“Economic growth has been strong in South Florida, resulting in these great survey scores,” said Aaron Lee, president of EO’s South Florida chapter (EO-SOFLO) and founder of Miami Lakes-based Illuminati Studios. “And the level of start-up optimism is even more exciting for so many of us working to build the area’s entrepreneurial ecosystem.”

A near unanimous 98.8 percent of South Florida respondents said they would be willing to launch a business in today’s economic outlook.

South Florida entrepreneurs outpace their counterparts around the world by about 10 percent in recent performance, projected results and in optimism. About 4,000 business owners worldwide responded to the study.

EO-SOFLO is one of the world’s largest EO chapters with about 180 members who run businesses that account for more than 10,000 jobs and $2 billion in annual revenues in the tri-county region.

For more information on EO-SOFLO, visit www.eosoflo.com. For details on the full GEI survey, visit www.eonetwork.org.

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