Local entrepreneurial firms in Bahrain project an optimistic outlook with profit margins and the number of full-time employees are expected to increase over the forthcoming months.

This is according to the latest survey results from the Entrepreneurs' Organisation's (EO) Global Entrepreneur Indicator research project report, said a report in the Gulf Daily News (GDN), our sister publication.

"The results reveal renewed optimism in the local market," EO Bahrain chapter president Safa Sharif said.

The survey shows that in the past six months, 70 per cent of EO Bahrain members have hired more full-time employees and 80 per cent predict they will continue hiring permanent employees over the coming six months.
It adds that 85 per cent of EO Bahrain members expect a growth of business revenue while 75 per cent predict a rise in net profit in the following six months.

The current proclivity to start a new business in Bahrain is 80 per cent.

EO Bahrain finance chair Khalid Alshakrani said the numbers indicate that businesses expect to see an expansion in their activity over the next six months.

This would encourage business owners to increase employment and short-term spending, he pointed out.

"Over the longer term business owners are still cautious in starting new ventures that require high amounts of capital expenditure.

"This is reflected in difficulty in accessing capital and more stinging terms of lending by the local commercial banking institutions," he said.

"EO Bahrain is proud to share the success of its members who have demonstrated an outstanding commitment towards developing a strong entrepreneurial community in Bahrain. Entrepreneurs and their businesses drive the business landscape and continuously support in strengthening the country's economy," he added.

The Global Entrepreneur Indicator is conducted on a bi-annual basis and taps into the minds of the world's leading business owners to identify trends in the world and local economy. - TradeArabia News Service