NORFOLK, Va., Dec. 21, 2021 (GLOBE NEWSWIRE) -- 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 when the Delta variant emerged. Moreover, 84.6% of these aspiring owners see business conditions about the same or getting better in the next three months according to the Small Business Startup Sentiment Index™ by FranchiseInsights.com.
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. The survey is conducted monthly using data compiled from individuals who have recently inquired about businesses or franchises for sale on the digital assets of FranchiseVentures.
Additional highlights:
- 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.
"The benefits of business ownership have never been more apparent," says Hunter Stokes, president of FranchiseVentures. "Entrepreneurs want to control their own destinies, and gain the financial rewards and flexibility that business ownership offers."
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.
About Franchise Insights
A unit of FranchiseVentures, Franchise Insights 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.
For more research from FranchiseInsights.com, subscribe above or follow us on LinkedIn.
Media Contact:
Michael Alston
Email: malston@decisionsmedia.com
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