Our 2Q 2021 Business Owners’ Outlook reveals increased trend to sell. Nearly a year into the COVID-19 pandemic that has devastated our country and economy, business owners are feeling the effects—for better or worse—and taking action. Many business owners are experiencing burnout and exhaustion, resulting in a high percentage moving to retire earlier or looking to sell their companies. Our survey shows the number of owners who anticipate retiring sooner than expected has doubled since last August.
However, while the report does share that the business owner confidence index has dropped significantly, on the positive side an increase in spending on technology spurred on by the pandemic has paid off for many owners. Fifty-three percent are experiencing business benefits from this increased spend, and many are experiencing a resulting cost savings and plan to invest back in their businesses, including hiring, increasing salaries, and adding more technology.
Please see important disclosures at the end of the report.Download Article