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RESOURCES > OPERATIONS

Small Business Insights Survey

By Index Staff

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open sign on small business door

By all accounts, the number of new small businesses in the U.S. is growing. The vast majority of these businesses are microbusinesses (under 10 employees).*

We wanted to better understand how many people identify as small business owners, including side hustlers and freelancers. And of that group, what percentage also hold down a job as an employee for another organization.

We also wondered what type of advice these small business owners, including the side hustlers and freelancers, are receiving.

So we surveyed 1,032 adults …

We then asked about the business advice they had received.

It ranged from the practical …

To the conflicting …

From the confident …

To the questionably helpful …

What It All Means

The rise in the number of Americans running a small business, side hustle, or freelancing indicates the growing importance these microbusinesses play in our economy.* Yet much of the advice our survey participants reported receiving was questionable or conflicting.

This industrious group needs and deserves more recognition and (definitely) better advice. To that end, we’re committed to expanding resources to help small businesses meet the challenges they will inevitably face. Our goal is to improve their chances of success so that they can, in turn, continue to contribute to the U.S. economy and inspire
future generations of small businesses.

*1. Small Business Administration:
https://advocacy.sba.gov/wp-content/up- loads/2022/08/Small-Business-Economic-Profile-US.pdf

2. GoDaddy:
https://www.brookings.edu/blog/the-avenue/2022/09/29/micro- businesses-boomed-during-the-pandemic-now-local-leaders-need-to-support -them/

3. Brookings Institute:
https://www.brookings.edu/blog/the-avenue/2022/09/29/micro- businesses-boomed-during-the-pandemic-now-local-leaders-need-to-support -them/

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