/C O R R E C T I O N -- GoDaddy/
In the news release, Amid Government Shutdown, Americans Ready to Turn to Self-Reliance,
Amid Government Shutdown, Americans Ready to Turn to Self-Reliance, GoDaddy & HarrisX Poll Finds
Majority of Americans and three-quarters of federal employees report financial anxiety, but half say they're ready to start a side hustle or small business if needed
The survey of more than 1,100 American adults and over 200 U.S. federal government employees reveals that economic instability could fuel a new wave of self-reliance, with many Americans prepared to turn their skills and ideas into income streams.
"Anxiety over personal finances is high right now, but we're also seeing remarkable resolve from Americans more broadly, and from federal employees in particular, to create their own earning opportunities," said
The national survey, conducted
The Shutdown Is Rattling Americans' Confidence in Their Finances – And That's Especially True for Federal Employees
Americans are feeling the impact of economic uncertainty on their own finances.
- 61% of American adults and 76% of federal government employees are concerned about the impact the government shutdown may have on their personal finances.
- 56% of federal employees and 34% of
U.S. adults say the government shutdown has already made them less confident about the stability of their income. - Concerns about the potential impact of the government shutdown extend beyond personal finances: 71% of Americans are concerned about the potential impact on small businesses and 64% are concerned about the potential impact on consumer spending.
- Among federal employees those concerns are even more acute. 90% are concerned about the impact the shutdown could have. 75% are worried about small businesses and 73% believe the shutdown could negatively impact consumer spending overall.
Consumers and Federal Workers Say They're Pulling Back on Spending
Economic anxiety, rising amid the federal government shutdown, is spurring caution when it comes to spending.
- 63% of federal employees and 41% of Americans report reducing spending in response to the shutdown.
- 44% of government employees and 29% of all consumers say they are delaying major purchases.
- 39% of federal employees say they are already dipping into savings to cover expenses because of the government shutdown.
The Shutdown Could Fuel Entrepreneurial Intent
Economic uncertainty could drive many to pursue greater financial independence.
- 70% of Americans and 67% of federal employees surveyed agree that the shutdown underscores the need to be self-reliant when it comes to finding ways to generate income.
- 74% of
U.S. adults and 79% of federal employees polled agree that in challenging times, people benefit from creating their own financial opportunities. - 50% of Americans and 41% of federal employees who responded to the survey say they would likely start a business or side hustle if their income were to be disrupted by the federal government shutdown or another negative economic event.
Sine said: "These findings appear to reveal a trend: when confidence in the economy falters, Americans are eager to seize control and create their own earning opportunities."
GoDaddy is making it easier than ever to start: for just
"Even amid economic uncertainty, Americans aren't losing faith in themselves," added
Methodology
HarrisX, commissioned by GoDaddy, conducted the nationally representative study online across
About GoDaddy
GoDaddy helps millions of entrepreneurs globally start and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services, and accept payments. GoDaddy Airo®, the company's AI-powered experience, makes growing a small business faster and easier by enabling them to get their idea online in minutes, drive traffic and boost sales. GoDaddy's expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com
About HarrisX
HarrisX is a leading strategic research, data analytics and AI consultancy focused on emerging technologies, business and social trends, social impact, public policy and politics. HarrisX conducts multi-method research in
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