U.S. Bank Small Business Survey Finds More Than One-Third of Gen Z and Millennial Owners Plan to Acquire a Business From a Retiring Owner – But Many Older Owners Aren’t Ready

Succession Gap : Many older owners lack formal succession plans, even as younger generations prepare to take over. Economic Operational Stress : Owners are feeling stress over the economy, inflation, funding issues, and daily tasks —despite recent growth. AI Adoption Rising : Over half are using or planning to use Gen AI, though many feel overwhelmed by tech demands. U.S. Bank released its third Small Business Perspective survey report today, revealing how owners across the country are responding to an environment defined by rapid change. The nationwide survey of 1,000 small business owners explored how they are navigating challenges ranging from economic stressors to the rise of generative AI, all while remaining focused on long-term growth, succession planning, and leaving a lasting legacy. Top 5 use cases small business owners have for Gen AI. “This year’s survey makes it clear that small business owners are committed to future-proofing their businesses in response to today’sRead More