89% of business owners have personal from business

Business.org’s most recent report where we surveyed small business owners to learn how chasing their entrepreneurial dreams has affected their personal finances and credit.

Turns out, entrepreneurs are feeling the difficult realities of leveraging their personal finances to start or keep their business afloat.

We found that 30% of business owners report not saving for retirement so that they can personally fund their business. And that 89% of business owners have personal debt related to their business ranging from $5,000 to more than $100,000.

Check out our full report here: https://www.business.org/finance/loans/risking-personal-finances-to-start-a-business/

Data snacks:

  • Only 30% of business owners can even qualify for a small business loan, and 43% of owners have an insufficient score to secure funding.

  • 31% are unsure how to keep business and personal finances separate.

  • 38% of entrepreneurs report that their personal credit score has gone down since starting a business.

  • One-third of business owners are using a home equity loan, crypto investing, or a personal loan to start their business.

  • 28% have tapped into their personal funds because of the pandemic to run their business.

Events
will be held January 26th, 2023, Noon to 4 PM EST with Atlanta locals in person and rest of country virtual via Zoom.

Read more BELOW

 
January 26th, 2023
The 13th Annual Hybrid Summit will be held on January 26th, 2023 Noon to 4 PM EST.

Virtual Women in Construction: Building Connections was held on December 14th, 2022, 1 PM to 2 PM EST via a Zoom. 2023 Virtual Women in Construction TBD.

2023 Virtual Men’s Round Tables

2023 Men’s Round Table #1 will be held Q1, 2023


2023 Virtual Women’s Round Tables

2023 Women’s Round Table #1 will be held Q2, 2023

News

Hotel construction shows signs of life

Hotel construction, which has declined for the past two years. showed a slight increase at the end of the year, STR reports. Luxury and upscale hotels in Dallas, New York and Phoenix have the largest percentage increases in construction. Lodging  

Spplements/Podcast
See Website for Details