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EO South Florida members optimistic about 2013, 82% plan to hire

EologoEntrepreneurs' Organization has more than 8,000 members -– all of whom are majority shareholders of businesses with at least $1 million in revenue -- in more than 40 countries. The South Florida chapter (EO-SOFLA) is the fourth-largest chapter of the global nonprofit in the world, coming in just behind New York, Japan and Mumbai.

 EO-SOFLA has 158 entrepreneur members whose businesses account for more than $1 billion in revenues and 25,000 jobs in Miami-Dade, Broward and Palm Beach counties.

The chapter recently released results of a survey of its membership. Here are some highlights, according to the chapter's press release: 

South Florida entrepreneurs overwhelmingly expect a prosperous 2013 for the region’s economy. In the survey, more than 82 percent of EO-SOFLO respondents planned to hire more employees here
during 2013.  The same percentage predicted growth and prosperity for South Florida businesses overall.

“Entrepreneurs are optimistic by nature, so the survey results aren’t surprising,” said Dr. Mark Sanna, EO chapter president and CEO of Breakthrough Coaching in Miami. “But there are various practical factors for us to expect the growth of 2012 to continue and improve this year.”

In 2012, the survey showed more than 60 percent of EO-SOFLO member companies increased revenues, and more than 66 percent added jobs. Numerous EO members, including Darren Seys, owner of Peak Seven advertising agency in Boca Raton, pointed to the rebounding real estate sector as major factor in South Florida economic growth in 2013.

 “The continued growth of this segment is going to lift a very wide range of businesses that don’t necessarily come to mind when you think of homebuilding or sales," said Seys.  "Fortunately for me, somebody has to create the ads and the websites for real estate developers, builders and such.”

South Florida’s evolving technology sector and international business standing also ranked high as growth opportunities for 2013 among EO-SOFLO respondents.

According to the survey, top challenges for the South Florida economy in 2013 include uncertainty, new tax laws and regulation related to the recent “fiscal cliff” crisis; finding trained and talented staff; and access to working capital and growth funding from banks.

For more information on EO, visit www.eonetwork.org.