Small business owners are known for their resilience. Their ability to adapt, pivot and persevere in the face of challenges is a defining trait. At U.S. Bank, we wanted to understand more deeply the factors behind small business owners’ unique resilience as well as the challenges they are facing.
That is why we conducted a nationwide Small Business Owner research study: to pinpoint what motivates small business owners, how they’re feeling, where they’re experiencing challenges – and inform our role in supporting them through ongoing uncertainty and change.
Here’s what 1,000 of your peers said.
Beyond financials, small business owners are driven by their individual purpose and desire to serve others, with 95% stating autonomy as a key motivator for starting their business.
As responsibilities pile up, 83% of owners often feel short on time and resources, but many acknowledge that digital solutions and community connections can help address some of the challenges and stressors they face.
Still, with all they have to take into account, an impressive 87% are upbeat about their future as they find ways to stay optimistic, happy and resilient.
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