67% entrepreneurs pursuing new mkt opportunities: Survey
Dubai: As many as 67 per cent of the world’s best entrepreneurs are pursuing new market opportunities, a recent survey has pointed out.
While for 40 per cent of the entrepreneurs, the second
priority is to improve performance, an Ernst & Young study
`Seizing Opportunities: redefining growth in a turbulent
economy` has revealed.
The survey highlights that entrepreneurs are focusing on
the positives and looking for strategic growth instead of
being moved down by the current economic downturn.
Findings show that despite current pressures, 40 per cent
of the surveyed entrepreneurs have not increased focus on cash
generation from operations and for 16 per cent of them
reshaping their business is not a high priority.
This also indicates that they have sufficient cash
reserves or can access alternate sources of cash to approach
Adapting to new realities has driven them to bring in
structural changes like rewarding key people (89 per cent),
increasing productivity through reduced costs (90 per cent)
and decreasing investments in capital projects (29 per cent).
However, there is a split over to increase or decrease
exposure to risk with the majority of the surveyed
entrepreneurs having retained their encouragement and reward
of measured risk-taking.
The survey was conducted among 3,100 finalists from Ernst
& Young`s `Entrepreneur Of The Year` program from more than 50