Entrepreneur Magazine: I finally picked up the August issue of Entrepreneur magazine and their listing the 13th Annual Hot 500: America’s top fast-growth businesses and the entrepreneurs who built them.
The article lists an “At a Glance” section with some interesting stats about the businesses:
The People: Who are the entrepreneurs behind the companies:
Male – 839 (88%)
Female – 114 (12%)
Average age – 44
The Numbers: A roundup of the basic figures…
Total revenue for 2006 - $12.6 billion
Total employment on first day of business – 2,807
Total employment projected by 2008 – 58,776
The Funding: Where’d they get the money to start?
Savings and personal funds – 387
Friends and family – 117
Bank loan – 71
Lines of credit – 71
Private investors – 70
Credit cards – 57
Venture capital – 19
The perks: how the entrepreneurs share their success with their employees.
Health insurance – 464
Retirement funds – 372
Car allowance/company car – 258
Flextime – 201
Telecommuting – 163
Tuition reimbursement – 163
Stock options – 90
The staying power: by their second year in business…
61% had turned a profit
56% had earned their first million (Wow!)
56% earned their first million by their second year in business! What better reason is there to motivate you to start your own venture?
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