news-record.com

GREENSBORO — Officials with the Nussbaum Center for Entrepreneurship, an operation that helps start-up businesses, announced an internal study of its member businesses Tuesday morning.

The study analyzed businesses that were with the Nussbaum business incubator in its 2009 and 2010 fiscal years. The study found that the 31 companies that met that criteria experienced a 5 percent increase in revenue, totaling $11.2 million. These same companies reflected profit growth of 30 percent, with totals growing to $1.4 million.

Gross payroll grew 8 percent, from $2.2 million to $2.4 million, and the number of full-time employees increased 5 percent.

“The results of this study reflect the hard work of our entrepreneurs and the dedication of the Nussbaum staff and our strategic partners in helping these companies grow,” said Sam Funchess, president/ CEO of the Nussbaum Center for Entrepreneurship.

“The growth of all entrepreneurial companies is key to the continued economic recovery and growth of the Triad, and the Nussbaum Center devotes every available resource towards this goal.”