Entrepreneurial firms in Bahrain are expected to see increased profit margins as well as a rise in the number of full-time employees over the forthcoming months, revealing renewed optimism in the local market, a report said.

In the past six months, 70 per cent of the members of Entrepreneurs’ Organization (EO) Bahrain have hired more full-time employees and 80 per cent predict they will continue hiring permanent employees over the coming six months, according to the latest survey results from the EO’s Global Entrepreneur Indicator research project.

The report noted 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.

Khalid Alshakrani, EO Bahrain finance chair, said: "The numbers indicate that businesses expect to see an expansion in their activity over the next six months which would encourage business owners to increase employment and short term spending.”

“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."

EO Bahrain chapter president Safa Sharif said: “The latest results from the Global Entrepreneur Indicator research project reveal renewed optimism in the local market.”

“EO Bahrain is proud to share the success of its members who have demonstrated an outstanding commitment to developing a strong entrepreneurial community in Bahrain. Entrepreneurs and their businesses drive the business landscape and continuously strengthen our economy,” added Sharif.

The Global Entrepreneur Indicator (GEI) 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.

The Bahrain Chapter of the Entrepreneurs’ Organisation (EO) was established in 2004 and currently has 42 members who collectively employ over 5,700 employees and whose businesses have a combined turnover of $200 million in annual revenue. – TradeArabia News Service