Startups Planned for First Quarter of 2022 Reach Highest in Twelve Months
NORFOLK, VIRGINIA — December 2, 2021 — Almost two-thirds of entrepreneurs (62.2%) agree or strongly agree that “now is a good time to start a business” in November 2021, a second month of descent from September’s high at 73.4%. Aspiring owners who anticipate starting their businesses in the “2-3 months out” range reached the highest level since October 2020 as the Delta variant emerged. In addition, 84.6% of these aspiring owners see business conditions about the same or getting better in the next three months.
The most recent Startup Sentiment Index™ survey was conducted November 23-30, spanning the long Thanksgiving holiday weekend as well as the breaking news and financial market reaction to the Omicron variant.
- Future business conditions: 37,1% of respondents believe that in three months, business conditions will be “better” or “much better” than now, down from 46.5% in September. About 47.6% see conditions “about the same” in three months.
- Access to funding: The percentage of entrepreneurs concerned about finding adequate funding increased, with those seeing funding “harder or much harder” to obtain at 33.8%, the same level as the prior month..
- Demographics: In November, 47.5% of respondents were currently employed full-time, and 20.9% were already current business owners. Gen-X (49.4%) and “Baby Boomers” (22.7%) were the largest age cohorts. Gen-Y (28.6%) followed at 21.3% of respondents.This phenomenon (higher percentage of Boomers vs. Millennials) seems to be seasonal, as can be seen in two years of data. Longer term, Millennials will resume the edge as they reach optimum business startup age and Boomers age out of the workplace.
Download a copy of the November 2021 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.
Interested in more insights from our proprietary data set? Subscribe to our email newsletter below, or follow us on LinkedIn.
Published on Thursday, December 2nd, 2021.