CED is using the most recent findings to provide a snapshot of key business trends, and also to compare these results with a similar survey conducted in January 2003.

In October survey, 64 percent of respondents said that prospects for starting or growing a business in North Carolina were good or excellent, up from 36 percent in January 2003. Fifty-one percent of respondents felt that the prospects for starting or growing a business outside North Carolina were good or excellent, up from 35 percent in January 2003.

Survey respondents most frequently cited maintaining a strong customer base as the top challenge faced in starting or growing a company in the entrepreneurial sector today.

Closing the new sale was cited second, and seeking new or alternative sales and marketing channels ranked third.

Survey respondents most frequently cited revenue financing as the most realistic financing alternative for high-growth companies. Other funding sources included strategic partnerships, angel funding, venture capital, self-financing and grants — listed in that order of importance. In early 2003, respondents ranked revenue financing, partnerships and venture capital in order of importance.

About a third of respondents identified themselves as prospective entrepreneurs. Of these respondents, 74 percent said they were highly likely or likely to start a business. One-third of prospective entrepreneurs plan to start a business within six months, another third within six to 12 months, and the rest more than a year from now.

Of those respondents who were current entrepreneurs, 60 percent had worked in either one or two high-growth businesses during their career, while 24 percent had worked in 4 or more businesses.

“While entrepreneurs are still looking at a variety of funding mechanisms, they are more optimistic about their chances today than they were 18 to 20 months ago,” said CED President Monica Doss. “The companies and early-stage entrepreneurs coming through CED’s programs are exploring their options and finding a way to get the job done.”

CED sent to the survey to more than 500 entrepreneurs in the area, including preregistered attendees of Entrepreneur ’04 and those who had participated in CED's training and mentoring programs over the past two years. Of the 100 individuals who responded, 43 percent said they were in the information technology sector, while 17 percent identified with the life sciences sector.

The remaining 40 percent of respondents came from a diverse cross-section of industries (including nonprofit, business services, energy, international trade and education).

The Council for Entrepreneurial Development, located in Research Triangle Park, is a private, non-profit organization formed in 1984 to identify, enable and promote high-growth, high-impact companies and accelerate the entrepreneurial culture of the greater Research Triangle region.