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.
Last August, a poll of 50,000 American business owners showed only 4.5% of respondents were considering growing or expanding their business over the next year. Ramsey reacted to the idea that aging and retiring owners may potentially be setting up a golden opportunity for a generational handoff. "The millennials and Gen Zers are the buyers. And you've got a huge opportunity, possibly to start your own thing.