SCORE’s last two infographics detailing the findings of The Megaphone of Main Street: Small Business Jobs Report have highlighted the nitty-gritty of hiring and small business employment.
The third infographic from our data report focuses on small business owner sentiment.
Small business owners are overwhelmingly optimistic: 69 percent of respondents reported feeling optimistic about the next six months for their company. Small businesses of all sizes echoed this sentiment, including rural and urban locations and a diverse group of owner ethnicities, ages and genders.
Millennials were the most optimistic demographic group of business owners, with 82 percent of business owners reporting feeling “very” or “somewhat” optimistic about their upcoming growth.
Small business owners worried about policy and healthcare
Through their optimism, small business owners are also grappling with major concerns. Primary concerns included policies that favor large businesses (48 percent), access to capital (39.7 percent), and proposed changes in healthcare (36 percent). Respondents described the issue of healthcare as “daunting,” and one remarked, “I don’t want to be in the health insurance business; I want to focus on running my business.”
Millennials were less concerned on average about policy and healthcare issues, but they were more concerned than the larger group about their ability to find and keep qualified workers.
Business owners also worry about the negative impact of issues, such as personal income tax (34.5%), corporate income tax (27.6%), and local labor laws (27.1%)
Support is here
A mentor can help you navigate the concerns our small business owners shared. It’s easy to get started. After deciding the question you’d like advice or guidance on, search for a mentor, or let your local chapter pair you with one. Submit a mentoring request, then get started. The relationship doesn’t end once that initial gets answered. A mentor can support the life of your small business, offering support and encouragement along the way.
Find the rest of our infographics from the Megaphone of Main Street survey, along with the full report, here.