Dave Ramsey reveals why its so ‘difficult’ to start a business today, which generation has the advantage [Video]

Small businesses are statistically the backbone of the American economy. But even personal finance guru Dave Ramsey points out that it’s a tough time to embark on an entrepreneurial journey.

“It’s emotionally difficult right now. It is very hard right now,” Ramsey told “The Big Money Show” co-host Brian Brenberg, Monday, at the EntreLeadership Summit in Dallas, Texas.

“And guess what? It always has been,” the Ramsey Solutions founder expanded. “If you were in the 70s, you had the Vietnam War, right? If you were in the 80s, you had inflation. You just name it, there’s always something telling you not to do it.”

Data from Forrester showed a surge of younger generations scooping up existing small businesses, with 64% of all buyers being born after 1980 as of February 2023. Despite the spike, Forbes reported this January that Boomers and Gen X still own the majority of U.S. small businesses, at a combined 87%.

CAREER COACHES EXPECTING 2024 LAYOFF WAVE, ‘FIERCE’ JOB …