According to the most recent quarterly index report co-sponsored by the Kauffman Foundation and LegalZoom, more than eighty percent of entrepreneurs who launched their business within the last year are highly confident in that their enterprise will be successful and profitable.
While the survey may have indicated that those responding may have some reservations about the nation’s overall economic health, the rising confidence in their own outlook is a positive indication that the market is favoring growth.
As a private, non-partisan organization, advancing entrepreneurial spirit and growth, the Kaufmann Foundation launched the survey in conjunction with LegalZoom to monitor the attitudes of entrepreneurs and how they reflect perceptions of the economy and attitudes towards success.
Says John Suh, chairperson of LegalZoom, “These reports continue to benchmark entrepreneurial confidence across the country…an entrepreneur’s experience with consumer demand and perceived outlook on the economy…”
The survey also revealed several other interesting trends. Among these are:
- More than forty percent of those surveyed are expecting an increase in customer demand.
- The majority of respondents (over 70 percent) in the oldest age category, those 61 and older, are confident in the profitability of their enterprise.
When this information is matched to the latest quarterly report from the federal government, the optimism expressed is encouraging as the economy continues with its steady recovery.
Smith, Ned, “Startup Business Owners Optimistic about Their Growth.” Fox Business News, May 1, 2013.