Access to Funding Tops Worries, but Business Startups Undaunted
NORFOLK, VIRGINIA — April 7, 2022 — After a month of invasion, inflation, and market volatility, business startups begin 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.
About 22.4% say that the pandemic is no longer a factor, but a record 48% say that it reduced the amount of capital they have to invest
- 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%.
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.
FranchiseVentures is the leading demand– and lead-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, Franchise Solutions, Franchise Gator, Franchise Opportunities, Franchise For Sale, SmallBusinessStartup.com and BusinessBroker.net, and together they provide the largest aggregation of prospective franchise buyers in the U.S.
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Published on Wednesday, April 6th, 2022.