EO Qatar Chapter and members thrive in global economy
- Qatar: Thursday, January 31 - 2013 at 11:57
- PRESS RELEASE
The Entrepreneurs' Organization's (EO) latest results from its Global Entrepreneur Indicator research project show that entrepreneurs in Qatar benefited from a strong second half of 2012 and that most are predicting and robust first six months for 2013.
According to the EO survey, 86% of member companies in Qatar hired more full-time employees in the last six months of 2012 while only 14% downsized their labor force; 86% of Qatar companies saw their net profit grow in the last six months, where only 14 % of Qatar companies reported a lower net profit.
The survey results indicated that in Qatar, 71% of entrepreneurs predict an increase in the number of contract or part-time employees during the coming six months, compared to the global figure of 49%. Additionally, 86% of Qatar business owners expect to increase their number of full-time employees in the coming six months, compared to the global figure of 62%.
In terms of profitability, Qatar is performing ahead of the global curve, with 86% of entrepreneurs reporting an increase in net profits for 2012 and 86% expecting continuous growth in the next six months.
"EO Qatar Chapter is very proud of the success of our members and we are happy to share this information with our community. Across all our members we are seeing increases in the number of full-time employees and expect that number to increase again in the coming six months. These results and progress demonstrates that we are moving in the right direction, we are passionate about our business and we are supporting our economy," said Mohamed Jaidah, President EO Qatar Chapter.
The results of the survey are very positive across the Middle East as well with Qatar, Bahrain and Oman Chapters all showing encouraging signs of growth and development as a comparative to the global results. The Middle East is continuing to build a vibrant and well supported entrepreneurial community.
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