Slim Majority Agrees ‘Now’ is Good for Business Startups, But 83% See Conditions ‘Same or Better’ In Three Months
By: Franchise Insights
December 7, 2022 — A record low percentage of aspiring business owners see “now” as ideal for launching their businesses. Only 50.6% of aspiring business owners either agree or strongly agree that “now is a good time to start a business”, down from the high of 73.5% as recently as February, 2022. FranchiseInsights.com compiles monthly the Small Business Startup Sentiment Index™ (SSI) of individuals who have recently inquired about businesses for sale.
Over 58.1% are leaving full time jobs, and Gen-X Soars to record share of respondents at 61.8%
While 17.1% see business conditions deteriorating in three months, 82.9% still see conditions for business startups “the same or better in three months.” In November, 53.4% of entrepreneurs planned their startups within the next three months, closer to August’s recent high of 69.2%.
The most recent Startup Sentiment Index™ survey was conducted November 24-30, 2022.
- Future business conditions: While most respondents see conditions “about the same” in three months for startups (59.2%), the declining trend of those seeing future conditions better and increase in those seeing future conditions worse may be cause for concern as the U.S. seems to head toward slower growth.
- Access to funding: The percentage of entrepreneurs concerned about finding adequate funding stands at 69.3%, though those seeing funding “harder or much harder” to obtain in the next three months dropped to 23.4%.
- Demographics: 58.1% of respondents were currently employed full-time, and 17.6% were current business owners seeking an additional business. Gen-X set a new record at 61.8% of respondents, while Baby Boomers (18.4%) rose to second place, ahead of Millennials who shrank to 17.1%.
Download a copy of the November 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, December 7th, 2022.