Entrepreneurs Ramp Up Enthusiasm for Spring Openings in November’s Startup Sentiment Index™
Dec. 3, 2020 – Forward-looking entrepreneurs are increasingly optimistic about 2021, with startups planned for “4-6 months out” reaching the highest levels ever recorded in the latest FranchiseInsights.com Small Business Startup Sentiment Index™ (SSI).
‘Buoyed by positive vaccine news and easing uncertainty post-election, the Nov. 19-26 survey showed 19.7% of respondents expected to start a business 4-6 months out, while another 23.1% planned to “buy or start a business this month” – both of which portend a boomlet in new business startups by June 2021.
The reasons for optimism seem clear. This survey was taken November 19-26, after Pfizer and German BioNTech presented preliminary data on November 9, 2020, indicating that their coronavirus vaccine was over 90 percent effective. Moderna reported similar findings on November 16. These announcements along with diminishing election uncertainty are likely factors in increasing business startup confidence. A spike in U.S. Google searches for “vaccine” occurred on November 9.
Additional highlights from November’s survey show :
- Future business conditions: Respondents were optimistic, roughly coincident with their expected time frames for starting businesses. Over 48% of respondents believe that in three months, business conditions will be “better” or “much better” than now.
- Access to funding: Entrepreneurs are becoming increasingly concerned about startup financing, with fewer seeing it getting “easier or much easier”, and more seeing it “harder or much harder.”
- View the FULL REPORT: Download the full November 2020 Small Business Startup Sentiment Index™
The Small Business Startup Sentiment Index™ is derived from a monthly survey of individuals who have recently inquired about businesses or franchises for sale on the digital assets of FranchiseVentures, and measures business-buyer sentiment on more than a dozen factors.
FranchiseVentures is the leading franchise 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 Friday, December 4th, 2020.