Despite the Continued Financial Crunch, Endeavor Survey Reveals That Emerging Market Entrepreneurs Still Remain Optimistic in 2009 and Project Growth

NEW YORK--()--Endeavor, the leading non-profit supporting High-Impact Entrepreneurs, today released a survey that shows how the global financial crisis continues to impact entrepreneurs in eleven emerging markets. It was a follow on to a survey conducted in December 2008.

The results from sixty-five entrepreneurs from Argentina, Brazil, Chile, Colombia, Egypt, India, Jordan, Mexico, South Africa, Turkey and Uruguay showed that they continued to remain negatively affected by the current credit crunch. As reported in December entrepreneurs have seen a reduction in sales, a rise in input costs and difficulty in accessing financing.

Yet High-Impact Entrepreneurs remain optimistic about the financial situation. Forty-five percent reported a positive impact from the crisis. Most encouragingly, Endeavor Entrepreneurs now expect to increase their annual revenue by 38%, which is 7% higher than what they anticipated in November. Endeavor Entrepreneurs also plan to increase their workforce by 29% - an increase of 17% from the November poll. Both results reflect an increased sense of optimism among Endeavor Entrepreneurs.

“Historically, High-Impact Entrepreneurs in emerging markets have overcome considerable cultural and economic barriers to scale their innovative businesses,” says Endeavor Co-Founder & CEO Linda Rottenberg. “As this survey shows, while this global crisis will be a great challenge, Endeavor Entrepreneurs remain optimistic. Investors and businesses contemplating their next moves in emerging markets should take these results as a strong sign of their vitality.”

For a copy of the survey, please contact elmira.bayrasli@endeavor.org

About Endeavor

Endeavor breaks down barriers that prevent emerging-market entrepreneurs from reaching their high-impact potential. Hailed by NYT columnist Thomas Friedman as the "mentor capitalist" model, Endeavor identifies entrepreneurs leading high-growth innovative companies in emerging markets. These entrepreneurs are given world-class strategic advice, access to key networks and other tools that will catapult them to success. With Endeavor's guidance they become “high-impact” – expanding employment, generating wealth and inspiring others to innovate. Often overlooked, these local entrepreneurs are now jumpstarting private sector development in their countries.

As of 2007, Endeavor Entrepreneurs throughout Latin America, South Africa and Turkey have created over 86,000 new jobs and generated over $2.51 billion in revenues. For more information, visit www.endeavor.org or follow us on http://twitter.com/endeavor_global.

Contacts

Endeavor
Elmira Bayrasli, +1-212-352-3200
Mobile: +1-646-491-2969
elmira.bayrasli@endeavor.org

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Contacts

Endeavor
Elmira Bayrasli, +1-212-352-3200
Mobile: +1-646-491-2969
elmira.bayrasli@endeavor.org