Percentage of Business Startups Planned for First Quarter is Highest on Record
The Great Resignation Continues: 48.3% of Aspiring Owners are Leaving Full-Time Jobs
NORFOLK, Va., January 6, 2022 (Newswire.com) - In late December 2021, the percentage of aspiring owners who expected to start their businesses within the next three months reached 62.1%, the highest percentage ever recorded. Further, 88.2% of these aspiring owners see business conditions about the same or getting better in the next three months, according to the Small Business Startup Sentiment Index™ by FranchiseInsights.com.
The most recent Startup Sentiment Index™ survey of aspiring business owners was conducted Dec. 27-31, 2021, between the year-end holidays, amid news of high incidence of the Omicron variant and thousands of canceled flights during peak travel season.
- Future business conditions: In an acknowledgment of just how good business conditions are now, only 39.8% of respondents believe that in three months, business conditions will be "better" or "much better" than now, down from a recent high of 46.5% in September. About 48.4% see conditions "about the same" in three months.
- Access to funding: The percentage of entrepreneurs concerned about finding adequate funding decreased, with those seeing funding "harder or much harder" to obtain dropping to 26.7%.
- Demographics: In December, 48.3% of respondents were currently employed full-time, and 21.7% were current business owners seeking an additional business. Gen-X (43.7%) and Gen-Y "Millennials" (31.6%) were the largest age cohorts, and "Baby Boomers" (20.5%) resumed third place.
"Starting with a bang, 2022 will be a great year for franchise growth," says Hunter Stokes, president of FranchiseVentures. "Entrepreneurs are geared up to control their own destinies, and gain the financial rewards and flexibility that business ownership offers."
Download a copy of the December 2021 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, Franchise Insights 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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Source: Franchise Insights