Despite its much-cited woes, the New Jersey business environment doesn't fare too poorly when compared with the rest of the world in some key areas.
That’s according to the results of a global survey conducted throughout February by the Entrepreneurs' Organization, or EO, international peer-to-peer network of entrepreneurs.
In its twice-yearly gauge of the near-term global economic outlook, attitudes about the Garden State’s economic outlook were generally rosier when paralleled with the rest of the nearly 6,000 international respondents.
For example, New Jersey bested the world average in businesses that saw an increase in net profit over the past six months: a full 10 percent more than the 60 percent global total. And only half the amount of companies were reporting a downturn in profit (7 percent locally to 14 percent globally).
However, it’s worth noting that far fewer Jersey business owners felt that access to capital had improved (23 percent compared with the global 36 percent). And in the next six months, 30 percent in the Garden State say that will change for the better, while 43 percent globally did.
Regardless, most Jerseyans reported feeling optimistic about the state’s entrepreneurial potential.
Ninety percent of Garden State respondents say they’d be willing to start a new business in today’s economic environment. Slightly less, 84 percent, said the same everywhere else.
As for businesses already up and running, 42 in the state reported a recent increase in full-time employees, less than the 56 percent global figure. But the state had roughly the same amount, 11 percent, that cited a decrease in full-time employment over the past six months.
Meanwhile, the number of companies hiring part-time employees is greater in New Jersey than the global amalgamate, with 52 percent saying they increased part-time staffers compared to the global 48 percent.
More information about the group and its survey can be found here.
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