Entrepreneurs predict positive outlook for Nigerian businesses

By The Citizen

A global network of business owners, The Entrepreneurs' Organisation (EO), has predicted a positive performance outlook for Nigerian businesses in the first part of its twice-a-year Global Entrepreneur Indicator (GEI) survey results released yesterday.

This prediction is coming amid apprehension in government circle and the organised private sector (OPS) about the challenges facing the nation's economy.

EO is a global network of more than 11,000 business owners in 48 countries with an average yearly turnover of $52.3 million per member and a combined US$565 billion in annual revenue.

The GEI survey, which is in its sixth year, was conducted from February 1 to 29, 2016 and is aimed at predicting the economic outlook and business landscapes in 155 chapters from the 48 member-countries of the EO.

The survey examined the present economic market and realities for entrepreneurs in the member-countries and provided insight into their predictions for the next six months with more than 7,000 of the over 11,000 business owners in the EO's membership responding to the survey.

The participants were presented with 14 questions assessing current and projected economic health and the reports were then issued to each of EO's chapters around the world, based on the responses collected from each chapter's members.

The survey report indicates a positive outlook for Nigerian businesses in spite of the current challenges as 57.1 per cent of the respondents reported a willingness to start a business in their current economic environment with the expectation of improvement in the business environment in the next six months. The Nation