By Daniel Hunter
London’s entrepreneurs have an optimistic outlook for 2014, according to Global Entrepreneurship Indicator, a bi-annual member survey by the Entrepreneurs’ Organization, a global network of over 9,500 entrepreneurs.
Of the 2,700 entrepreneurs surveyed across the globe, 43% expect the economic outlook to improve in 2014. In London, 77% are planning for improvement.
While 48% of the London entrepreneurs surveyed saw their revenue increase in 2013, 70% are planning for growth in the next six months. Additional findings include:
- 65% expect to increase headcount in the next six months (compared to 63% globally).
- 68% expect to see net profit increase during the next six months (compared to 76% globally)
- 70% expect to see revenue increase during the next six months (compared to 81% globally)
- 29% expect an increase in debt load during the next six months (compared to 26% globally).
- 48% expect access to capital to increase and 6% expect it to decrease over the next six months (compared to 34% and 3% globally).
Julie Walters, UK President of the Entrepreneurs’ Organization and Founder of Tudor Reilly Health comments: “The results show that London’s entrepreneurs are more optimistic than they have been for five years. London is a hotbed of entrepreneurial activity with initiatives such as Tech City raising the profile of the city as a great place to start a business. As more entrepreneurs gravitate towards the city, this opens up more opportunities for networking and peer-to-peer learning, increasing its appeal as a place to start a business.”
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