Entrepreneur group says its Detroit members will hire more workers in next 6 months

John Gallagher| Detroit Free Press

A majority of established Detroit entrepreneurs expect to hire more full-time and part-time workers in the coming six months, an indication of growing strength in the local economy.

The Entrepreneurs’ Organization, a global non-profit network of more than 8,000 businesses in more than 40 countries, said its recent survey of members showed that a majority of Detroit-area entrepreneurs believe the economy is moving in the right direction, with 80% reporting positive feelings about starting a new business in the next six months.

These numbers are comparable to global numbers, which indicate that 56% of entrepreneurs around the world plan to hire more full-time workers, while 62% of entrepreneurs plan to hire part-time workers, and 77% of global entrepreneurs were hopeful about starting new ventures. The survey included 141 Detroit-area companies with at least $1 million in annual revenue. Overall, the average respondent grosses $3.2 million in revenue.

“The results from the survey underscores that Detroit businesses are thriving despite the current economic climate,” said EO Detroit Chapter President Peter Davis. “We expect our businesses to continue growing, and we expect the market to rebound in a positive way.”

To learn more about the Global Entrepreneur Indicator, visit www.entrepreneurindicator.com.

Contact John Gallagher: 313-222-5173 or gallagher99@freepress.com