Small Business Startup Sentiment Index™ (SSI) Shows Increasing Confidence in February 2020
Recent surveys of prospective small business buyers revealed a healthy uptick in confidence from January to February 2020. The new 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 Franchise Ventures.
When presented with the statement, “Now is a good time to start a business,” respondents demonstrated a positive shift in sentiment from January to February. In the survey conducted Feb. 14 to 17, 76.4% of respondents indicated that they “agree” or “strongly agree” that now is a good time to start a business. Only 4.5% expressed apprehensions about the now being a favorable time for launching a new enterprise, while 19.1% indicated a neutral perspective.
This uptrend in optimism was expressed despite the turbulent political climate, the shortage of skilled employees available in the labor market and growing unease related to the coronavirus.
The optimism of prospective owners is also shared by the owners of established small businesses. The January issue of the NFIB Small Business Trends showed a similar positive outlook from existing business owners. “2020 is off to an explosive start for the small business economy, with owners expecting increased sales, earnings, and higher wages for employees,” said NFIB Chief Economist William Dunkelberg.
Franchise Ventures 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 businesses include Franchise.com, Franchise Solutions, Franchise Gator, Franchise Opportunities, Franchise For Sale, and BusinessBroker.net, and together they provide the largest collection of prospective franchise inquiries in the U.S.
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Published on Wednesday, February 26th, 2020.