Skilled Trade Industry Faces Talent Crunch as Business Owners Fear Younger Generation's Disinterest
DENVER, Nov. 29, 2023 /PRNewswire/ -- Pie Insurance ("Pie"), an insurtech company specializing in commercial insurance for small businesses, today unveiled its 2024 Small Business Outlook Report, revealing insights into the unique challenges and triumphs of small business and skilled trades business owners across the United States.
- 60 percent of all small business owners said they are very or somewhat concerned about a talent shortage in their industry due to an aging workforce.
- These fears are heightened further with 43 percent of skilled trade business owners reporting limited interest from younger generations as a top concern.
- "The fact that so many skilled trade small business owners share this struggle is a call to action for us all.
- Despite challenges, 89 percent of all business owners find joy in their work all or most of the time, rising to 91 percent for skilled trade business owners.