August's Prospective Business Owners Display Highest Readiness Seen Yet in 2020
NORFOLK, Va., October 6, 2020 (Newswire.com) - Franchise Insight’s small business Startup Sentiment Index™ showed several indications of increasing optimism among individuals already looking to buy or start a business about getting their businesses started immediately.
In a welcome sign of small business optimism amid the pandemic, responses collected Aug. 20-26, 2020 for the FranchiseInsights.com Small Business Startup Sentiment Index™ revealed a new high point for buyer readiness in 2020. Over 23% of aspiring business owners indicated plans to “buy or start a business this month” – the fourth consecutive month of increasing near-term readiness, and a sharp increase over pre-Covid-19 survey responses.
“Granted, these respondents are already taking steps to learn about businesses to start,” says Michael Alston, senior advisor to FranchiseInsights.com. “So they are inclined to be optimistic in pursuit of their dreams of business ownership.”
In another encouraging development, over 36% of August respondents indicated they are “more likely to start a business now than three months ago” – the third consecutive monthly increase. Accordingly, the percentage of respondents that were “less or much less likely to start a business than three months ago” decreased to 8%, the lowest reading in 2020. These notable improvements in buyer optimism might suggest that pandemic pessimism has peaked.
See excerpts from prior SSI™ surveys, and subscribe for free to receive the September 2020 Small Business Startup Sentiment Index™ when it is published next week.
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.
FranchiseVentures is the leading demand generation platform for potential franchisees to 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 franchise buyers in the U.S.
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Source: Franchise Insights