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America’s SBDC survey spotlights needs and challenges to small business

Albany – The results of a national survey by America’s SBDC have been released by the New York Small Business Development Center. The survey highlights key aspirations and obstacles facing American entrepreneurs across various age generations.

America’s SBDC studied different generations’ views of entrepreneurship. The research looked at millennials (born between 1977 and 1995), Generation Xers (born between 1965 and 1976) and Baby Boomers (born between 1946 and 1964). The organization also wanted to find out how familiar millennials are with available resources in general and SBDCs in particular.

Highlights of the findings include:

  • 41 percent of Americans say they would quit their job and start a business in the next six months if they had the tools and resources they needed.
  • Nearly half (49 percent) of all millennials would like to start their own businesses in the next three years; and more than half would be willing to take the entrepreneurial leap in the next 6 months with the right tools and resources.
  • Nearly 24 percent of both millennials and Generation X own or have owned small businesses.
  • Across all generations, Americans cite access to money as the most difficult aspect to starting a business.
  • Over half of Americans (61 percent), say they would be encouraged to start a small business if they knew where to go for help.
  • Most millennials (83 percent) cite not knowing where to go for help to start or run a business as the number one reason that keeps them from starting their own business.

“We were excited to embark on this important study to better understand how Americans across different generations are drawn to entrepreneurship and could not be more excited about the survey’s results,” said Charles “Tee” Rowe, president of America’s SBDC. “It is clear that the entrepreneurial spirit is not only alive and well in America, but that people are eager to find help to build their dream business.”

With nearly 1,000 locations across the country, SBDCs provide local businesses and entrepreneurs the resources they need to thrive, compete and succeed.

Since 1984, the New York Small Business Development Center has provided small business assistance to New York small businesses. The NY SBDC has helped more than 439,000 New York entrepreneurs and small business owners start, grow and expand their business and local economies by investing $6 billion, creating and preserving more than 193,000 jobs.

“We are excited by these survey results and thrilled at the prospect of continuing to help New Yorkers across all generations launch, grow and pursue their entrepreneurial dreams” said NY SBDC State Director Jim King. “The NY SBDC has assisted entrepreneurs in starting and growing businesses for more than 30 years and we’re strongly committed to continue this support for current generations and for future generations as well. Entrepreneurs and small business owners are creating most new jobs, leading the way in innovation, and helping to drive our State’s economy. The SBDC network nationally combines the critical expertise with experienced know-how to help deal with tomorrow’s challenges today.”

Learn more about the research findings.

About America’s SBDC and Small Business Development Centers
America's SBDC represents the Nation's 63 Small Business Development Centers, a national network of partnerships uniting higher education, state and local nonprofit economic development organizations, private enterprise and government. It is the Small Business Administration's largest partnership program, providing management and technical assistance to help Americans start, run and grow their own businesses. Learn more at

About the New York Small Business Development Center
The NY SBDC, administered by SUNY, has 24 regional service centers located throughout the New York State on SUNY, City University of New York (CUNY) and private university campuses. Since inception in 1984, the SBDC has provided small business advisement services to more than 439,000 New Yorkers. The SBDC also provides training and business research to existing business owners and entrepreneurs. SBDC clients have invested more than $6 billion in NY, impacting more than 193,000 jobs.

The SBDC is funded in part by the U.S. Small Business Administration, the State of New York, local communities, and host campuses. As a result of this leveraged support, the SBDC staff provides confidential one-on-one business advisement services at no direct cost to the citizens and entrepreneurs of New York. For more information about the SBDC, visit
About the State University of New York

The State University of New York is the largest comprehensive university system in the United States, educating nearly 463,000 students in more than 7,500 degree and certificate programs, and more than 1.8 million NYS citizens in professional development and personal enrichment programs, on 64 college and university campuses, and online through Open SUNY. There are nearly 3 million SUNY alumni worldwide. To learn more about how SUNY creates opportunity, visit