CLICK HERE to read the full Endeavor Insight report, “High Impact Entrepreneurs: Growing faster than their peers”.
By 2020, the world will need to create 500 million jobs so as to employ the entire eligible workforce. Who can be these job creators? If, like Endeavor contends, high-impact entrepreneurship is the greatest job creation mechanism the world has, how do the Endeavor Entrepreneurs really stack up against their peers? Do they really deserve the classification of “high-impact”? These are the questions a new study from Endeavor Insight sought to answer. The answers? Quite simply, Endeavor’s Entrepreneurs are significantly out-pacing their peers and contribute disproportionately to the economies of their respective countries both in terms of revenue and jobs.
When the three-year CAGRs of Endeavor Entrepreneurs are compared to comparable companies from the World Bank Enterprise Survey database, Endeavor’s high-impact entrepreneurs grow jobs 5.4 times faster than comparable companies and grow revenue 2.4 times faster than comparable companies. (Comparable companies were defined as those in the same country, the same industry, and with the same number of jobs). In fact, within any given year, the average company of a high-impact entrepreneur will generate approximately 30 more jobs than the average comparable company. That is 30 more people with stable and oftentimes higher paying jobs empowered with the ability to provide for themselves, their families, and contribute to their economies– per entrepreneurial venture. When multiplied by the number of companies which can thrive in any given economy, it’s easy to see how these numbers could quickly add up.
The revenue story is quite similar. High-impact companies are growing 2.4 times faster than comparable companies and, on average, generate $1.5MM USD more in revenue per year, or $4.6MM USD more in three years.
Interested in reading the full report? Click here.