Two trends we follow closely at Small Business Labs are employee satisfaction levels and information related to baby boomer retirement plans. We follow these because they both relate to the decision to start a small or personal business.
Research consistently shows that the number 1 reason people start small businesses is to be their own boss. So as folks become less satisfied at work, they are more likely to venture out on their own.
According to a recent Conference Board survey, job satisfaction is at the lowest levels they've recorded in the survey's 22 year history. The chart on the right is from their study and is pretty self-explanatory.
On the baby boomer retirement front, MSN's Retirement? Good Luck with That presents a pretty dismal view of boomers' ability to retire.
We've long forecasted that Boomers will stay in the workforce longer than the prior generation and will increasingly start and work for small businesses as they age. The Great Recession has increased the need for Boomers to work longer and data sources are showing that start-up formation is increasing for people 55+.
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