Entrepreneurs expanded their workforces by an average of 16% in 2011, and many of them expect to keep hiring in 2012.
As the world struggles to pull itself out a disheartening economic downturn, entrepreneurs are providing a crucial resource in painfully short supply: jobs.
We know this because of a recent survey of over 8,000 Entrepreneur Of The Year winners. They told us that while other businesses struggle to create jobs:
- They expanded their workforces by an average of 16% in 2011
- Many of them expect to keep on hiring in 2012
- Most of them are creating high numbers of good jobs that require university degrees or experience
We also learned that the most important factor influencing their hiring plans is sheer growth in the markets for their product and services. In that sense, our entrepreneurs may well be the first to spy land after a long choppy ocean voyage.
Of course, entrepreneurs are hard-bitten realists as well as visionaries. In Ireland, the US, the UK and Australia, they expressed little confidence in the overall direction of their country's economy.
And fewer than one in ten is satisfied with the quality of their local workforce. Nonetheless, these entrepreneurs are overcoming the obstacles, starting new businesses and expanding their current ones, and, oh yes, boosting the global economy in their wake.
Read further to learn more about:
- Eight takeaways
- Where the jobs are growing and who's getting hired
- Influencing factors
- It doesn't stop with jobs