Washington, DC Business Owners Show Steady Stream of New Hires

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Global Entrepreneur Indicator Survey confirms private business owners are economic engines and Washington, DC EO chapter members plan to hire more full- time and contract employees in the next six months.

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69% of Washington, DC EO members say they predict a positive change in their business revenue and feel that now is a great time to start a new business

There is an economic spark glowing for the Washington, DC region at the start of 2012, as well as for the entire nation according to a recent survey conducted by the global membership network, The Entrepreneur’s Organization (EO). The organization’s sampling of more than 1200 entrepreneurs around the world, including 122 members from the Washington, DC chapter, indicates an overall increase in the number of full-time new hires, contractors, and profits for the last half of 2011 and the same if not better growth predicted for the first half of 2012.

“The Washington, DC region has always been viewed differently when it comes to employment trends,” says EO member Jen Sterling, owner of Red Thinking in Northern Virginia. “And while it is predicted that changes in defense spending and other government contracting needs may slow the region’s growth, EO members here in the region and globally have come through the recession and are hiring and have a positive outlook. In fact, 69% of Washington, DC EO members say they predict a positive change in their business revenue and feel that now is a great time to start a new business.”

Results of the non-scientific survey for Washington, DC track close to other EO member companies around the world.

  •     66% of members locally and across the globe predict hiring new full-time employees in the next six months.
  •     38% of members locally and 50% globally predict increasing the number of contract and part-time employees in the next six months.
  •     79% of members locally and 73% globally saw a positive change in their business revenue for the last 6 months and 69% of members locally and 80% globally predict a positive change in business revenue for the next six months.
  •     Overall, global business owners and those in the Washington, DC community are feeling confident about each country’s economic environment with 52% of Washington, DC members expecting a positive change compared to 41% across the globe.

EO|DC is part of a global network of more than 8,000 entrepreneurs all of whom run companies that exceed $1 million in revenue. Members of EO’s Washington, DC chapter generate median revenues of $2.5 million and employ more than 5,000 people, according to chapter statistics.

About the Entrepreneurs’ Organization

The Entrepreneurs' Organization is a dynamic, global network of more than 8,000 business owners in 40 countries. Founded in 1987 by a group of young entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. Membership in one of EO’s 120 chapters is by invitation only; the average member is 41 years old with annual revenues of US$17.3 million. For more information on the Entrepreneurs’ Organization, visit http://www.eonetwork.org or call +1.703.519.6700.

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Sharon Ritchey
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