ALEXANDRIA , Va. – October 18, 2007 – Healthcare costs and the 2008 presidential election rank as two of the top issues on the minds of many U.S.-based entrepreneurs, whereas energy prices and “going green” rate as low business priorities. The Entrepreneurs’ Organization – a global community of entrepreneurs that provides a unique peer-to-peer learning atmosphere for the world’s most successful business owners – conducted a nationwide survey of more than 340 of its members. Survey results provide an analysis of the types of business issues that will be the most significant influencers over the next calendar year.
“This survey reflects what entrepreneurs and small businesses across the country are feeling,” said Shelby Scarbrough, president, Entrepreneurs’ Organization. “It also helps guide our organization’s work in today’s global economy. For example, on issues such as rising healthcare costs, the Entrepreneurs’ Organization helps its members by providing a forum for idea sharing and collaboration, giving these business owners invaluable support from peers who are facing the same challenges.”
More than 75 percent of respondents ranked their level of concern about rising healthcare costs as “very concerned” or “concerned,” while less than two percent indicated no concern about the business impact of healthcare costs. When asked how important the 2008 U.S. presidential election will be to their business, nearly 50 percent of responding entrepreneurs ranked the election as “important” or “very important,” whereas just 11 percent rated the election as “not important” to their business.
Other subjects are less influential. Survey results showed that although the environment and rising energy prices have received much media attention, neither is ranked as a high business priority for entrepreneurs in 2008. Nearly 50 percent of respondents said they anticipate energy prices having a neutral impact on their business next year. Similarly, more than 44 percent of responding entrepreneurs declared that “going green” was a low or moderately low priority.
In a technology analysis, survey results demonstrated that entrepreneurs use social networking tools such as Facebook and MySpace for marketing and recruiting purposes, but do not employ those tools for customer/employee communications or professional networking. Fifty percent of respondents plan on including social networking in their 2008 marketing strategy, with 16 percent leveraging LinkedIn and just under 11 percent using MySpace and Facebook. For professional networking, LinkedIn is the clear choice for entrepreneurs, with close to 30 percent intending to exercise the site’s capacity next year.
In the world of employee recruiting and retention, entrepreneurs still find traditional methods to be the most effective, with more than 84 percent stating that competitive salaries enable them to find and keep qualified employees. Paid vacation and healthcare benefits were the next highest ranking choices, with benefits such as transportation subsidies, education reimbursement and telecommuting options ranking relatively low on the list.
Full survey results are available at: https://desktop.vovici.com/wswebtop.dll/WSPubReport?esid=195119&subaccountid=101226. The Entrepreneurs’ Organization survey includes 347 U.S.-based entrepreneur members who completed the questionnaire in October 2007. Respondents were from all major U.S. geographic areas and represented numerous industries. Boasting more than 6,600 members around the world and representing more than $100 billion in annual sales, the Entrepreneurs’ Organization is the dominant association of its kind. The organization was founded two decades ago and its membership ranks have included influential members such as Michael Dell and Ted Leonsis. The Entrepreneurs’ Organization will celebrate its 20 th anniversary on October 27, 2007, with a gala event in Las Vegas, Nev. Keynote speakers will include business luminaries such as Steve Wynn, Marcus Buckingham and Guy Kawasaki. For more info, visit www.eonetwork.org.
About the Entrepreneurs' Organization
The Entrepreneurs’ Organization (EO) is a global community that enriches members’ lives through direct peer-to-peer learning, connections to experts and once-in-a-lifetime experiences. EO is the catalyst that enables entrepreneurs to learn from each other, leading to greater business success and an enriched personal life. Entrepreneurs and entrepreneurial energy impact the global economy, and the Entrepreneurs’ Organization, the most influential group of entrepreneurs in the world, fuels this growth. EO is comprised of more than 6,600 members in 38 countries, with an average member age of 39 and average annual revenue of US$15.5 million. The organization is committed to building the world’s most influential community of entrepreneurs. For more information on the Entrepreneurs’ Organization, visit www.eonetwork.org.