In a remarkable turnabout, future business owners planning to start “this month” dropped, while startups planned “3 months out” reached the highest level on record in September responses collected for the FranchiseInsights.com Small Business Startup Sentiment Index™ (SSI).
“These are the most encouraging signs of animal spirits among aspiring business owners that we have seen in 2020,” says Michael Alston, senior advisor to FranchiseInsights.com. “The data portend a coming boom in business formation in the aftermath of the pandemic.”
- While “access to funding” remains the biggest concern, the economic climate and political changes have grown the most among the six biggest factors impacting startup sentiment
- Entrepreneurs are the most optimistic about “business conditions 3 months out” than they have been since April 2020.
- While the pandemic has had a devastating impact on small businesses, almost 39% of the entrepreneurs indicated that Covid-19 actually increased their “interest in controlling their own destiny through business ownership” in September’s survey.
|FULL REPORT: Download the full Sept. 2020 Small Business Startup Sentiment Index™|
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.