Over 40% say that the pandemic boosted desire to control their destiny through business ownership.
May 4, 2022
NORFOLK, Va., May 4, 2022 (Newswire.com)
April 2022 saw inflation at a 40-year high, war in Ukraine entering its third month, and the worst S&P 500 performance since March 2020. Despite all the uncertainty, 59.3% of aspiring business owners surveyed in April were resolute about starting their businesses within the coming three months. Not surprisingly, 77.1% of these survey respondents see business conditions about the same or getting better in the next three months. Currently, 69.2% of would-be entrepreneurs agree or strongly agree that “now is a good time to start a business”, up from 67.7% in March, according to the Small Business Startup Sentiment Index™ by FranchiseInsights.com.
The most recent Startup Sentiment Index™ survey was conducted April 21-28, 2022.
- Future business conditions: In an acknowledgment of how good business conditions are now, only 28% of respondents believe that in three months, business conditions will be “better” or “much better” than now. About 49.2% see conditions “about the same” in three months.
- Access to funding: The percentage of entrepreneurs concerned about finding adequate funding eased to 68.7%, with those seeing funding “harder or much harder” to obtain in the next three months at 37%.
- Demographics: In April, 42.6% of respondents were currently employed full-time, and 13.9% were current business owners seeking an additional business. Gen-X (50.9%) and Gen-Y “Millennials” (32.5%) were the largest age cohorts, and “Baby Boomers” followed at 15.8%, followed by Gen-Z at 0.9%.
“Entrepreneurs in the U.S. are seeing beyond the pandemic economic disruptions,” says Hunter Stokes, president of FranchiseVentures. “And despite unsettling global headlines, they are moving forward with their business startup plans.”
Download a copy of the April 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.
About Franchise Insights
A unit of FranchiseVentures, FranchiseInsights.com provides research and intelligence to help the franchise industry and investors understand and meet the needs of budding entrepreneurs who want to own their own businesses. With a vast and growing proprietary data set of U.S. franchise inquiries, we use the tools of data science to make inferences and discover best practices to foster the growth of small businesses.
FranchiseVentures is the leading demand generation platform for aspiring business buyers and franchisees of thousands of growing franchise systems in the United States and Canada. Its franchise lead generation brands include Franchise.com, FranchiseSolutions.com, FranchiseGator.com, FranchiseOpportunities.com, FranchiseForSale.com, SmallBusinessStartup.com and BusinessBroker.net, and together they provide the largest aggregation of prospective business and franchise buyers worldwide.
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