The Ivey Entrepreneurs Index is based on a short survey of five questions. Entrepreneurs were asked what they expect will happen in their companies over the next 12 months, covering their outlook for revenue, profits, hiring, and borrowing. The survey also includes the general question: do you expect the Canadian economy as a whole to grow?
This is the first release of the semi-annual index.
"Entrepreneurs are the economic canaries in the coal mine. They are the first to feel constraints when there is an economic downturn and they are the first to turn more optimistic when conditions improve," said Stewart Thornhill, Executive Director, Pierre L. Morrissette Institute for Entrepreneurship.
"We recognize the importance entrepreneurs play in driving the economic engine in Canada," said Dennis Fortnum, National Leader, KPMG Enterprise™. "Whether a private company or family business, these leaders ride the whitecap of economic conditions and market uncertainty looking for opportunity to build value in their thriving businesses.
This first survey establishes a baseline; future releases will measure prospects and trends.
The survey was distributed to 280 entrepreneurs whose companies have average revenue of $30 million with an average of 380 employees. Their businesses have achieved 25 per cent average growth annually. The entrepreneurs surveyed are graduates of QuantumShift™. Co-founded by Richard Ivey School of Business and KPMG Enterprise, each year QuantumShift brings together 40 top Canadian entrepreneurs for a week-long leadership and executive development program.
Tim Miller, Managing Partner of Capri Insurance Services and a Fellow of QuantumShift, said that entrepreneurial organizations are among the first to know what's happening in the economy.
"If you read in the paper that it's difficult to acquire capital, typically it's the entrepreneurs who are the ones that are feeling it. Entrepreneurs are by necessity closer to their customers and employees," he said.
For further information about the Ivey Entrepreneurs Index powered by KPMG Enterprise, please click here.
About the Richard Ivey School of Business, The University of Western Ontario
The Richard Ivey School of Business (www.ivey.ca) at The University of Western Ontario is Canada's leading provider of relevant, innovative and comprehensive business education. Drawing on extensive research and business experience, Ivey faculty provide the best classroom experience, equipping graduates with the skills and capabilities they need to tackle the leadership challenges in today's complex business world. Ivey offers world-renowned undergraduate and graduate degree programs as well as Executive Development at campuses in London (Ontario), Toronto and Hong Kong.
About KPMG Enterprise
KPMG Enterprise™ is a network of professionals devoted exclusively to helping private companies in Canada. Why is that important for owners and entrepreneurs? Based on their understanding and experience of what private companies face every day, KPMG Enterprise business advisers can provide proactive and effective advice about financial, business, and compliance challenges, ultimately helping owners and entrepreneurs build and grow successful enterprises. Visit http://kpmg.ca/enterprise.
About QuantumShift
QuantumShift™ is an intense and exclusive leadership development program for Canada's most promising entrepreneurs, co- founded by the Richard Ivey School of Business and KPMG Enterprise in 2004. The program brings an elite group of 40 entrepreneurs together annually for a rigorous five-day developmental experience at the Ivey Business School in London, Ontario. Admission to QuantumShift is by invitation only selected from amongst hundreds of nominations annually. The curriculum explores topics that matter to high growth entrepreneurs.
For further information about the program and its Fellows, visit http://kpmg.ca/quantumshift.
Nominations for QuantumShift 2011 close December 3rd, 2010. To nominate an entrepreneur, contact Tracy Holotuk at 416 777 8460.
For more information, please contact:
Paul Mitchell,
Richard Ivey School of Business,
519-850-2536,
pmitchell@ivey.ca
Tracy Holotuk,
KPMG Enterprise,
416 777 8460,
tholotuk@kpmg.ca
Julie Bannerjea,
KPMG Enterprise,
416 777 3243,
jbannerjea@kpmg.ca