Auckland entrepreneurs are outperforming their global competitors in many fields, the Entrepreneurs’ Organization (EO) 2015 Global Entrepreneur Indicator (GEI) shows.
The GEI points to positive growth for Kiwi businesses with the survey showing more Kiwi entrepreneurial businesses have outdone the global average in both profits and revenues.
Ninety per cent of surveyed Auckland EO members said they would be willing start a business in their current economic environment.
“Our members’ businesses have outperformed global results on everything other than use of debt, and we’re forecasting better results in the short term too,” says EO Auckland’s communications chair Richard Conway.
“Although our official cash rate has come down, it’s still higher than most so it’ll be interesting to see whether more Kiwi businesses increase their use of debt funding as the Reserve Bank continue to bring that rate down over the next 12-18 months.”
The Global Entrepreneurs Indicator (GEI) examines the current economic market and realities for entrepreneurs, and gives insight into their predictions for the next six months.
“Predicted change in economy looks poor on the face of it, but other countries have had a much tougher time over the past few years,” says co-founder and CEO of Eventfinda and EO Auckland member James McGlinn.
“New Zealand's slowing down but I see this as simply taking us down to the slower level of growth the rest of the world is already at.”