2016 First Half Review

Posted by jim on Aug 16, 2016

In Blog, Startup Community, State of Athens Startups

qEvery 6 months, Four Athens asks its members to complete a survey related to their employment numbers, revenue, and growth over the past 6 - 12 months.

 

For our mid-year 2016 survey, questionnaires were sent out to 59 member companies of Four Athens.  A total of 17 companies completed the survey (28.8% response) within a month of receiving it.

 

These 17 companies employ a total of 213 people, or an average of 12 employees per company. Obviously, a few companies comprise the vast majority of the jobs, but this is to be expected.  Of those 213 jobs, 66 have been created since the beginning of the new year. As the data has shown, it is young, fast-growing, tech companies that have created the vast majority of net new jobs in America-- exactly the kind of jobs that Four Athens works to support.  At the end of 2015, our member companies were surveyed and estimated they would be hiring for 43 new positions in the first 6 months of 2016, so this represents a significantly faster growth rate for these companies (a net addition of 23 more jobs than expected).

 

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These 213 jobs represent an average salary of $40,929. Removing startups with no reported salary data bumps the average salary per employee hired up to $46,386. This represents a slight increase from our 2015 numbers of ~$43,000 (ranges were reported previously), and is also higher than the Athens Clarke County median household income of $41,761.

 

On a highly encouraging note, these companies also indicate they plan to hire an additional 63 people by year end.  With this strong growth, total new jobs from just these 17 companies will be 129, almost equaling total reported jobs from Four Athens members in 2015, of 134.  All of this growth has been achieved largely on revenue growth as opposed to investor capital, as only $1.0m in funding was raised from these companies. This encouraging statistic means these companies will be less impacted by potential funding downturns that inevitably descend upon the tech sector.

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We collect minimal data on our founders at this point, but the average company represented by this data is founded by 2 people with an average age of 39.  According to SBA data, that means the average Athens business owner is slightly younger than the US average.