EY Entrepreneur Ecosystem Barometer — Fall 2024 (EY)

Summary

• The September 2024 survey gathered responses from 500 established US entrepreneurs with companies earning over US$1m in annual revenue.p.2
• A high proportion (76%) of surveyed entrepreneurs saw revenue growth in 2024, and 82% expect the market to be stronger in 2025.p.3
• Artificial intelligence adoption is high, with 73% expressing optimism about AI and 94% past the consideration phase.p.4
• Over the next 18 to 24 months, 91% of entrepreneurs plan to fundraise, with 45% pursuing bank loans, 44% private equity, and 37% venture capital.p.5
• Strategic transactions are on the horizon for 72% of respondents, with 75% assessing M&A, 58% exploring private sales, and 39% planning for IPOs.p.6
• A notable 85% of entrepreneurs work fewer than 50 hours a week, while 69% report getting at least seven hours of sleep per night.p.7

Key insights

1. 82% of US entrepreneurs expect a stronger market in 2025, surpassing the 68% optimism rate among corporate CEOs.p.3
2. Female entrepreneurs display notable technological focus, with 45% operating established AI systems compared to the 36% overall average.p.4
3. 50% of women entrepreneurs would spend an extra hour a day learning about new technologies like AI or machine learning.p.4
4. Self-funding is the most popular source of future capital, planned by 53% of surveyed entrepreneurs.p.5
5. 30% of surveyed entrepreneurs aim to raise more than US$10m over the next 18 to 24 months.p.5
6. Transaction appetite scales with company size, as 91% of businesses with US$5m or more in revenue consider a strategic transaction.p.6
7. In-office presence remains high, with 72% of respondents requiring or seeing employees in the office three or more days per week.p.7