Access to Funding Tops Worries, but Future Business Startups Are Undaunted
Over 80% of Aspiring Owners See Business Conditions the Same or Better in Three Months
NORFOLK, Va., April 6, 2022 (Newswire.com) - After a month of invasion, inflation, and market volatility, entrepreneurs began to settle into the new reality in March 2022. Despite all the uncertainty, 52.9% of aspiring business owners responding in March were resolute about starting their businesses within the next three months. Further, 80.5% of these survey respondents see business conditions about the same or getting better in the next three months. About 67.7% of would-be entrepreneurs agree or strongly agree that "now is a good time to start a business", down from 73.5% in February, according to the Small Business Startup Sentiment Index™ by FranchiseInsights.com.
The most recent Startup Sentiment Index™ survey was conducted March 24-31, 2022.
Additional highlights:
- Future business conditions: In an acknowledgment of how good business conditions are now, only 37.7% of respondents believe that in three months, business conditions will be "better" or "much better" than now. About 42.9% see conditions "about the same" in three months.
- Access to funding: The percentage of entrepreneurs concerned about finding adequate funding increased to 75.2%, with those seeing funding "harder or much harder" to obtain rising to 38.8%.
- Demographics: In March, 47.9% of respondents were currently employed full-time, and 17.7% were current business owners seeking an additional business. Gen-X (41.6%) and Gen-Y "Millennials" (33.8%) were the largest age cohorts, and "Baby Boomers" followed at 16.2%, followed by Gen-Z at 5.8%.
"The resilience of aspiring entrepreneurs is remarkable," says Hunter Stokes, president of FranchiseVentures. "The rewards of business ownership compel them to move forward despite the headlines."
Download a copy of the March 2022 FranchiseInsights.com SSI report here. See excerpts from prior SSI™ surveys and subscribe to receive the Small Business Startup Sentiment Index™ monthly report when it is released.
The Small Business Startup Sentiment Index™ is based on a monthly survey of individuals who have recently inquired about businesses or franchises for sale on the digital assets of FranchiseVentures.
About Franchise Insights
A unit of FranchiseVentures, FranchiseInsights.com provides research and intelligence to help the franchise industry and investors understand and meet the needs of budding entrepreneurs who want to own their own businesses. With a vast and growing proprietary data set of U.S. franchise inquiries, we use the tools of data science to make inferences and discover best practices to foster the growth of small businesses.
FranchiseVentures is the leading demand generation platform for aspiring business buyers and franchisees of thousands of growing franchise systems in the United States and Canada. Its franchise lead generation brands include Franchise.com, FranchiseSolutions.com, FranchiseGator.com, FranchiseOpportunities.com, FranchiseForSale.com, SmallBusinessStartup.com and BusinessBroker.net, and together they provide the largest aggregation of prospective business and franchise buyers worldwide.
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Media Contact:
Michael Alston
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Email: malston@decisionsmedia.com
Source: FranchiseInsights.com
