Entrepreneurs in the St. Louis area are thriving — and they’re bringing job growth with them.
The Entrepreneurs’ Organization, which is a network of entrepreneurs worldwide, produces a biannual survey that measures a variety of business metrics in each of the regional chapters. The report shows that St. Louis businesses are doing well.
More than 67 percent of companies have seen an increase in their revenue in the past six months. increased and more than 64 percent have improved their profits during that same time period.
As their top and bottom lines have improved, companies have been able to take on more employees. More than 61 percent of companies increased full-time headcount (14 percent decreased), and nearly 57 percent of companies increased their part-time headcount (5 percent decreased).
“St. Louis entrepreneurs once again continue to improve their businesses and provide both part-time and full-time jobs to the community, helping to improve St. Louis’ economic position,” EO St. Louis President Joe Schweppe said in a statement. “Entrepreneurs continue to drive this economy forward, and the increased performance and continued optimism is a good sign for the entire region in terms of continued job growth, improved standards of living and strengthened communities.”
St. Louis entrepreneurs indicated they were optimistic about the future as well. More than 93 percent said they expect revenue to increase, and nearly 86 percent said they expect profits to go up.
And again, this will likely result in increased hiring. Nearly 74 percent of companies indicated that they planned to increase full-time headcount in the coming six months, and more than 62 percent of respondents indicated plans to increase part-time headcount in that time.
Among the other findings:
- More than 94 percent of companies’ capital either increased or remained the same.
- Nearly 88 percent of companies kept their use of debt instruments constant.
- Nearly 95 percent of respondents said they expect the country’s economic health will improve in the next six months.
For the full study, visit http://www.entrepreneurindicator.com.