June Survey Shows Record Highs in Business Startup Sentiment and Near-Term Intent
July 13, 2021 – Entrepreneurs who agree or strongly agree that “now is a good time to start a business” reached 76.9% in June, exceeding pre-pandemic levels, and showed the highest reading in survey history. Further, a record 34.6% want to launch their businesses in the next month. FranchiseInsights.com compiles monthly the Small Business Startup Sentiment Index™ (SSI) of individuals who have recently inquired about businesses for sale.
These results mirror the ongoing surge in new business applications reported in June by the US Census Bureau. In addition, the Conference Board’s Survey of Consumer Confidence rose again in June to the highest level since February 2020, before the pandemic was widespread.
The most recent Startup Sentiment Index™ survey was conducted June 24-30, 2021, as U.S. adult vaccination rates exceeded 67% and travelers filled airports and roadways in anticipation of a long holiday weekend.
- Future business conditions: Respondents see further improvement ahead, with 53.2% of respondents believing that in three months, business conditions will be “better” or “much better” than now.
- Access to funding: The percentage of entrepreneurs concerned over acquiring adequate funding was reduced, with those seeing funding “harder or much harder” to obtain dropping to 29.7% in June from 34.7% the prior month.
- Demographics: 46.3% of respondents are currently employed full-time, down from 56.1% in May, and 20.6% are current business owners. Gen-X (45.1%) and Gen-Y (33.7%) are the largest age cohorts, while “Baby Boomers” follow at 18.5%.
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.
Interested in more insights from our proprietary data set? Subscribe to our email newsletter below, or follow us on LinkedIn.
Published on Wednesday, July 14th, 2021.