Entrepreneurs in Taipei confident about business performance: Global Entrepreneur Indicator survey

Entrepreneurs in Taipei are very confident about their businesses’ performance in the next six months, according to the Global Entrepreneur Indicator Survey by the Entrepreneurs’ Organization (EO) released today.

Three in four entrepreneurs reported that their businesses’ net profit had increasedduring the last six months and all of them predicted that their net profit would continue its growth in the next six months.

Allen Sung, President of EO Taipei Chapter said that the positive results were driven bythe continuous growth in the Asian economy, amid the uncertain global economy.

“Although Taiwan’s GDP growth forecast was lowered to 1.9 per cent from a previous estimate of 2.4 per cent, due to the slowdown in China, ongoing uncertainty in the Eurozone and a weaker recovery in the US, there are signs indicating Taiwan’s economy will be more bullish soon.

“For example, the Taiwan Institute of Economic Research reported Taiwan’s manufacturing composite index edged up to 90.23 in August, the second straight monthly increase for the indicator,” he said.

The survey also revealed that the majority (75%) of the entrepreneurs surveyed plan to increase their headcount. This figure is higher than the global average of 62 per cent.

According to Allen, talent shortage has worsened in Asia as its emerging markets continue their rapid growth and this has become one of the major challenges facing multinationals and SMEs alike.

“A lack of skilled talent has a negative impact on a company’s ability to maintain its growth, innovate and lead, especially in the manufacturing and service sectors where the problem is most acute,” Stated Allen.

“Under these circumstances, enterprises need to adopt effective approaches to recruit and retain talent. For example, providing good employment conditions such as career advancing opportunities and a healthy work-life balance will help companies groom and retain the talent needed to grow their businesses.” The other findings include:

· All entrepreneurs said that their debt load stayed and will remain the same in the last and next six months.

· A majority (75%) of the entrepreneurs said that their access to capital decreased during the past six months and less entrepreneurs (50%) think the access to capital will increase in the next six months.

· Three quarters of the entrepreneurs thought that Taiwan’s economic environment will either improve or stay the same for the next coming six months.

About Entrepreneurs Organisation

The Entrepreneurs’ Organization (EO) is a dynamic global network of more than 8,000 business owners in 40 countries. Founded in 1987 by a group of young entrepreneurs, the year 2012 marks EO’s 25th anniversary. With its transformative experiences and unparalleled peer network, EO transforms the lives of the entrepreneurs who transform the world. 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 EO, visit http://www.eonetwork.org.

About Taipei Chapters

The Taipei Chapter was founded in 1997 and has 18 members.

Please contact Baldwin Boyle Shand for more details.

Ying Wang

Email: [email protected]

DID: +65 6239 4107

Hp: +65 9752 8234

Nicholas Ferguson

Email: [email protected]

DID: +65 6239 4105

Hp: +65 9452 0613

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