Startup Sentiment Remains High, But Concerns Rise about Future Business Conditions
NORFOLK, VIRGINIA — July 13, 2022 — Aspiring business owners have been optimistic through the course of the pandemic and recent economic concerns, but they perceive less favorable business conditions for startup three months out. Of aspiring business owners surveyed in June, 74.4% were resolute about starting their businesses within the coming six months. Currently, 65.2% of would-be entrepreneurs agree or strongly agree that “now is a good time to start a business”, down from 73.5% in February. But while 68.2% of these survey respondents see business conditions about the same or getting better in the next three months, 31.8% – the highest on record – see conditions getting worse, according to the monthly Small Business Startup Sentiment Index™ from FranchiseInsights.com.
The most recent Startup Sentiment Index™ survey was conducted June 23-30, 2022.
- Future business conditions: More respondents see conditions worse for startups (31.8%) than better (29.5%) in three months compared to now.
- Access to funding: The percentage of entrepreneurs concerned about finding adequate funding grew to 75.6%, with those seeing funding “harder or much harder” to obtain in the next three months eased slightly to 42.3%.
Demographics: 48% of respondents were currently employed full-time, and 17.3% were current business owners seeking an additional business. Gen-X (41.9%) and Gen-Y “Millennials” (32.4%) were the largest age cohorts, and “Baby Boomers” jumped to 22.8%, the highest percentage in eighteen months. Gen-Z trailed at 2.9%.
Download a copy of the June 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, July 13th, 2022.