Global Startup Ecosystem Report


Europe leads in the “number of top growing ecosystems across phases,” says a recently released report Startup Genome’s 2019 Global Startup Ecosystem Report.

The Global Startup Ecosystem Report is “based on primary and secondary data from over 10,000 founders and more than one million companies across over 150 cities worldwide,” according to the authors, Startup Genome and the Global Entrepreneurship Network.

Amongst the top 10 global startup ecosystems, Paris and Berlin have the least amount of female founders.

Four key takeaways from the report:

  1. Paris and Berlin to step up female entrepreneurship
  2. Frankfurt’s Fintech focus
  3. Blockchain in the Balkans
  4. Keep your eye on Helsinki

Read more about the takeaways from the Global Startup Ecosystem Report.

Netflix Surges Before Earnings Report and Pushes Entrepreneur Index Higher™

Meanwhile, the real estate investment trust sector gets pummeled by rising interest rates.

3 min read

Opinions expressed by Entrepreneur contributors are their own.

Netflix got several thumbs up from analysts prior to reporting financial results after the market close today, pushing the stock up 3.04 percent.

Deutsche Bank analyst Bryan Kraft raised his rating on the stock to buy and dismissed the threat of new competitors in the video streaming sector, suggesting that Netflix was becoming “a cultural necessity for people around the world.” Sentiment in the Wall Street analyst community is divided on Netflix. There are currently eleven sell ratings, nine buys and eight neutral ratings, according to data from TradingView. The stock was down in early after-hours trading.

The broader market was up modestly. The Dow and S&P 500 indexes gained 0.26 percent and 0.05 percent respectively, while the Nasdaq Composite rose 0.3 percent. The Entrepreneur Index™ was up 0.14 percent on the day.

BlackRock has recovered along with the stock market this year. The world’s largest asset manager handily beat earnings estimates with financial results reported this morning and saw its stock jump 3.25 percent — the biggest gain on the Entrepreneur Index™ today.

The company’s investment funds saw $64.7 billion in new inflows in the quarter — up 13.6 percent from the same quarter last year. The stock fell sharply along with the market in the fourth quarter but is up 18.8 percent this year.

The technology sector was generally positive today. Chipmaker NVIDIA Corp. bounced back from a sharp drop yesterday with a 1.9 percent gain today. Facebook, down 0.43 percent, was the only FAANG stock on the Entrepreneur Index™ to fall. Cognizant Technology, down 3.26 percent, had the biggest decline in the sector.

Other good gains on the index included Tesla (2.62 percent), Bed Bath & Beyond (2.43 percent) and Wynn Resorts (2.04 percent).

Hospital manager Universal Health Services had the biggest decline on the Entrepreneur Index™ today, dropping 4.83 percent. The stock is falling in tandem with managed care and health insurance stocks, after UnitedHealth Group CEO David Wichmann issued warnings about disruption to the industry if universal healthcare coverage is adopted. Universal’s stock is up 8.38 percent this year.

Medical device maker Boston Scientific Corp. was also down sharply after the Food and Drug Administration ordered the removal of vaginal mesh products from the U.S. market. Shares in the company, one of the biggest producers of surgical mesh, were down 4.34 percent. Boston Scientific is defending itself from hundreds of product liability lawsuits related to mesh.

The REIT sector was clobbered today as interest rates rose sharply. All nine REITs on the Entrepreneur Index™ fell by more than 1.5 percent. Shopping center manager Macerich Company had the biggest decline, falling 4.56 percent and setting a new 52-week low today. Mall manager Simon Property Group (-4.02 percent) and apartment building REIT Essex Property Trust (-3.53 percent) also had big losses.

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on

Uh Oh! Small Business Optimism Fading, Report Finds

The ebb and flow of the economy and its cyclical nature means there will be good and bad times. With such a strong economy in the last couple of years, it was inevitable that the record-high small business optimism would eventually start fading.

Spring 2019 Paychex Business Sentiment Report

According to the latest Paychex Business Sentiment Report, business owners’ optimism has gone down in several areas since October 2018. Owners said business outlook, ability to fill open positions, and ability to raise wages are trending on the downside.

The report comes from 500 randomly selected business owners surveyed between February 15 and 26. Participants were polled on topics impacting their profitability and prospects for growth.

They were asked to rate their optimism on a scale of 1-100. One would represent the highest level of pessimism and 100 the peak of optimism.

As the third installment of the Paychex Business Sentiment Report, overall business owner sentiment is still optimistic. But as Martin Mucci, Paychex president and CEO, pointed out in the press release for the report there is a decline compared to the last report.

Mucci said, “The decline seen in these latest results are primarily around hiring and the ability to raise wages.”

He added, “This is the lowest level of confidence in employers’ ability to fill openings with qualified workers that we’ve seen since starting the Business Sentiment Report in July of last year. While jobs growth remains steady, business owners are still having a hard time finding candidates with the right skill sets to meet their needs in today’s tight labor market.”

The Tight Labor Market

The ability to fill open positions is getting harder because of the tight labor market. Unemployment levels are historically low, which makes it a job seekers market at the moment.

In the survey, the optimism level in finding the right qualified candidate is down by 8 points to 43/100. But overall small businesses are finding it less challenging to find talent.

Only 10% of companies with 1-19 employees said it was very challenging, while 23% with 20-99 employees and 40% with 100-500 employees said the same.

Wage Disparity

According to the Bureau of Labor Statistics (BLS) for February 2019, wages are up. Although it is only 3.2% over the last 12 months, the numbers are better than the stagnant wage growth over the past decade.

The problem mirrors the results in the Paychex report as the ability to raise wages is down 10 points to 41/100.  A further breakdown of the data reveals rural areas have it much harder when it comes to raising wages.

Urban regions in the US said their outlook was 49/100 in their ability to raise wages, while rural parts of the country it went down to a low 15/100.

Overall Optimism

The overall optimism in the US economy is positive when you remove the ability to raise wages and finding qualified talent.

In this report, the number is 72/100, which is up from the fall of 2018 when it was 65/100.

The economic outlook is brighter for large organizations. Businesses with 1-19 employees said their optimism level was 62/100, while those with 20-99 workers said 71/100. Companies with a workforce of 100-500 people were the most optimistic at 75/100.

Here is an infographic with some data points.

Spring 2019 Paychex Business Sentiment Report


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Weekly Wisdom with Joel Bondorowsky: Day Parting Report

This video is part of our Weekly Wisdom series which will feature experts on a variety of topics. 


Hello to all the amazing internet marketers. Today I’m going to explain to you the “how to” of a Day Parting Report in Google Ads, and why this is important to get an edge over your advertising competitors.

Anyone doing PPC is used to checking their campaign, ad group, ad, and keyword performance regularly.

Conversion rates directly correlate to the value of the traffic they send. The higher the conversion rate, the more valuable the traffic the keyword delivers. Therefore, the keyword can afford a higher bid.But if this is all you are looking at, your campaigns could be performing much better, and you wouldn’t even know it. 

The reason is that the collection of clicks and sales that produce your conversion rate aren’t all happening at the same time, location, or even device. They can be segmented by many different dimensions.

If you are not actively adjusting bids for variations of performance across these dimensions, you are paying too much for lower converting traffic, and too little for higher converting traffic. To make matters worse, if your advertising competitors are making proper adjustments, they will outrank you more with traffic converts better, and you will outrank them for worse converting traffic.

You must regularly segment your campaigns by dimensions to understand how this may be impacting you and adjust accordingly.Now I will show you in a few simple steps how to create a report so that you can understand how much conversion rate variations by hour of the day and day of the week are hurting you so that you can make the proper adjustments.

First Part – Extracting the Raw Numbers from Google

This report can be divided into two steps. The first step is where you extract data from Google, and second is where you create the report in excel.

  1. Click on the reports icon.

  2. Click Custom – to create a custom report.

  3. Select Table – because you’re going to want to produce a table which is then downloaded as a CSV file and then opened up in Excel.

  4. Date Range – chose a range that you would like to analyze. 

  5. Filter Campaigns – that you would like included in the report.

  6. Rows – you want to drag over:

    1. Day of week

    2. Hour of Day

    3. Campaign

  7. Columns – you will want:

    1. Clicks

    2. Conversions

  8. Download report as CSV

  9. If you want to run this report on a regular basis, you can choose to save it and scheduled. You can even have it emailed to you automatically so that you don’t need to repeat these steps.

Second Part – Creating The Report

Now that you have the report downloaded, we can proceed onto the second part which is actually creating the report in Excel.

  1. Open the report with Excel.

  2. Save it as an Excel xls file.

  3. Create a pivot table in a new sheet – selecting the columns and rows that we are analyzing; this would be everything except for the top rows that are labels for the report such as date range and so on.

  4. Insert CVR as a calculated field.

  5. Make columns percentages.

  6. Move two decimal points.

  7. Conditional formatting per column – formatting for all the columns so that visually the colors can show you which hours are the best and which are the worst.

  8. Add campaign name as a filter – so that you can select different campaigns that you would like shown for the analysis; this will enable you to see everything at once, or just a few at a time.

This is what it looks like when it is done:


Conclusion – What to Do with This Information

And now we are done creating the report. Next comes the analysis, which is simple, thanks to the visual nature of the report which shows clear patterns.

Now that we have created the report, we can analyze it; this is actually pretty simple, thanks to the visual nature of the report itself which lets you simply look at it and see some clear patterns. Conditional formatting makes the hours of the day that have higher conversion rates stand out in a darker green while the worse hours of the day are orange.

Each row in the report from 0 to 23 represents a different hour. The grand total on the bottom row is the average conversion rate for that particular day. The conversion rate on the right column for each row is the average conversion rate for that particular hour, spread out across every day of the week while the conversion rate on the very bottom right cell, 0.6%, represents the overall conversion rate for the campaign itself.

Now…0.6%, if you are not doing day parting, you are bidding for that average conversion rate across the board; this means that you are not aggressive enough during the better converting hours which are highlighted in dark green and you are too aggressive during worse hours of the day which are represented in the red, and the orange. Besides missing out on better traffic when it converts better, your competitors will grab that better traffic if they are making proper bid adjustments.

You must adjust bids so that you are more aggressive during the green hours, and less during the red hours. If not, your competition will, thus outranking you when traffic is converting, and you outranking them when traffic is not. These adjustments can be made in your camping settings.

One tip, if your campaigns aren’t profitable, you may consider scheduling your campaigns so that they don’t even run during the bad hours. What that would do is instantly increase conversion rates; thus your value per visitor and possibly, from one small step, turn a losing campaign into one that is profitable.