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Take 5: Rural small business, financial confidence and succession plans by NH Business Review for Trisha Nail

GOLDMAN Sachs 10,000 Small Businesses Voices recently surveyed entrepreneurs in rural areas, finding that 76% of rural small business owners worry about their ability to access capital, and two-thirds want the tax code simplified. This comes as 74% plan to grow, though 70% noted it’s challenging to attract workers to their communities. Additionally, 54% of rural small business owners said the government is not doing enough to address inflation.

MORE than six in 10 Americans feel tax rates on large businesses and corporations should increase, the Pew Research Center reported after surveying 5,086 U.S. adults. Of them, 58% also said tax rates on households with income over $400,000 should increase.

ACCORDING to a WalletHub survey of respondents from all generations, young Gen Z adults are the least financially confident generation, with 1 in 4 saying they are not confident in their financial knowledge or skills. Among adults in their 20s, 46% say inflation is holding them back more than income, debt or housing costs, and 20% rate the debt management as “poor.”

JUST over half of U.S. employer-businesses are owned by people at or near retirement age – 55 or older – Gallup polls indicate. However, the polling company learned that few small business owners with no employees have a succession plan. About 27% plan to close the business entirely, 35% plan to transfer ownership through a sale or gift, and 40% are uncertain about what their plan is at all.

THOUGH politics may be shaping corporate decision-making on diversity, equity and inclusion initiatives, a survey of 1,000 U.S. workers by MyPerfectResume found that 84% of employees want their companies to expand DEI efforts rather than reduce them. Just 5% said DEI programs should be scaled back, while 95% reported that such programs have positively impacted their work experience

Compiled by Trisha Nail from press releases and news reports.

Categories: Take 5
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