37% no longer think owning a car or home is part of the American dream

NEW YORK (StudyFinds.org) – The “American dream” is not dead, but according to a third of small business owners (31%), it needs to change. In a new survey of 1,000 small business owners, many believe aspects of the traditional American dream are a thing of the past, such as owning a car and home (37%) and believing in the free market economy (31 %).

Instead, respondents are now focused on helping their business thrive as part of their “new” American Dream, which 71% believe is achievable through sacrifice, risk-taking and hard work. hard work.

The American Dream Evolves

The results of the survey, commissioned by Xero, a global platform for small businesses, and conducted by OnePoll, also reveal that nearly two in three people (65%) believe they are currently living the American Dream. Meanwhile, 72% think there’s a difference between having a “personal” American dream and a dream for their business.

Although 38% of respondents say running their own business is part of their personal American Dream, almost as many agree that being self-made (32%) and supporting their family (30%) are also part of their career plans. life. However, achieving their dreams takes time, with 46% of business owners saying they have a four- to five-year plan to achieve their personal goals.

When asked what they would seek to accomplish first, 23% want to make sure they secure their own future, 16% want to lobby for a good cause and 14% want to push the future of their family first.

“Small businesses are the engine of the American economy, and it’s no surprise we’re seeing a shift in how business owners view the American Dream,” said Ben Richmond, US country manager at Xero. , in a press release. “Business owners are redefining what it means to be a self-made entrepreneur, and their aspirations for their business are closely tied to their new vision of the American dream. We’ve come to see that often the American dream includes both aspirations professional and personal, and each side of the coin very distinctly influences the other.

Small Business Goals

The vast majority of business owners (86%) say their business is an important part of their larger American Dream. Three out of five hope to develop their chain stores. More than a third (36%) say they currently own both a physical store and an online store, while 25% only have a physical store and 20% do business strictly online.

Respondents also shared the financial goals they set for themselves and their company, including providing employees with health and retirement benefits (40%), having enough money to spend freely (36 %) and pay their employees more (34%). Five out of six believe that being “financially well off” is their American dream.

“Bringing together the two distinct worlds – both professional and personal – of a business owner and connecting the different elements of business management using technology can help owners take control of their goals,” adds Richmond. “It can also help them focus on the passion that drove them into business.”

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