More than two-thirds of entrepreneurs (67%) plan to fund their new business with personal savings.
Almost two in five (38% for expense tracking and 39% for opening a bank account) said these will be among the first things they do when they start their business.
The key takeaway for anyone considering starting a business right now is to raise awareness in your local community and make building a great website a top priority.
One of the ways small businesses can turn this to their advantage is to play up the benefits of working for a small business. Almost four out of five of the survey respondents (78%) said they have worked for a small business at some point in their career.
Almost all U.S. workers (97%) are worried about it as well — and they may reduce spending as a result. The first things they say they will save money on are restaurant meals, days out, and gifts for other people.
Another factor that may help is that many are ready for life to return to normal after almost two years of pandemic disruption, which may drive up demand. In fact, almost nine out of ten (87%) say they are ready to shop in person again in retail stores.