By Rob Starr, Content Manager, Big4.com
According to findings in Deloitte’s “Mid-market perspectives: America’s economic engine- why entrepreneurs matter,” high levels of economic uncertainty are affecting business and shifting opinions among mid-market executives. Specifically, only 59 percent of executives surveyed ranked the United States as the most accommodating country for entrepreneurs – a 32 percent drop from how those same executives said they felt in past years.
In defining “entrepreneurial”, 81 percent of respondents say any company, large or small, can behave in entrepreneurial ways. Mid-market executives say that being creative, unique, different, innovative and taking risks with the acceptance of failure are most important for keeping their companies successful.
Among mid-market executives who indicated their companies had become more entrepreneurial, they cited innovation to create entirely new businesses, enhancing products and services, and discovering and penetrating new markets as primary behaviors driving their organizations.
Companies that have become more entrepreneurial are likely to have increased their workforce by more than 10 percent during the past year, and plan for the same in the year to come. Additionally, this segment of survey respondents expect their revenue to grow by more than 10 percent next year.
Uncertainty, however, has not diminished. In fact, the survey shows consistent increases in the level of uncertainty, particularly in an election year in which fiscal policy, taxes and regulation hang in the balance.