67% entrepreneurs pursuing new mkt opportunities: Survey
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Last Updated: Tuesday, August 25, 2009, 18:01
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 opportunities.

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 countries.

Bureau Report

First Published: Tuesday, August 25, 2009, 18:01

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