New North Carolina Entrepreneurial
Survey Results Released

The North Carolina Center for Entrepreneurial Development released the results of its new survey of NC entrepreneurs. Go here to read the summary.

Here are some important findings of the survey:

1. Survey respondents most frequently cited closing the new sale as a top challenge faced in running a company in the entrepreneurial sector today. Seeking new or alternative sales and marketing channels was cited second, and managing burn rate ranked third.

2. Approximately 40 percent of all survey respondents cited revenue financing as the most realistic financing alternative for high growth companies. Almost 50 percent of respondents (47.2 percent) noted that the time horizon necessary to close a round of funding was approximately 6 to 12 months.

3. 76 percent of respondents noted that the prospects for starting an entrepreneurial business in North Carolina today were fair or better than fair; however, 85 percent of respondents felt that the prospects for starting an entrepreneurial business in a state other than North Carolina were fair or better.

4. CED's survey also revealed perceived differences in financing alternatives for the biotech vs. the IT sector. Of the IT respondents, close to 50 percent cited revenue financing is the most viable option for the sector. In contrast, respondents in the life science sector were spread fairly evenly among partnerships, revenues and venture capital (VC) funding as the most realistic alternatives.

5. In terms of entrepreneurial perceptions of the business factors sought by investors, an experienced management team, sustainable business model, profitability and revenue growth all shared top honors almost equally. Also, 56% of respondents suggested these measurements had not changed in the last 12 months.