For many years, the American Dream included owning a home, starting a family and having stable employment, whether as an employee or entrepreneur. Today, that perception is changing. Younger generations, potentially discouraged by inflation and the increasingly out-of-reach real estate market, were less likely to include owning a home as an indicator of achieving the American Dream. Instead, when considering responses across generations, from Gen Z to Baby Boomers, small business owners reported that “living a comfortable lifestyle” (56%) and “feeling happy with my life” (54%) were the key indicators of having achieved the American Dream. 

Even as it becomes less of a priority, 45% of small business owners say home ownership is still a symbol of the American Dream. This is more important to men (49%) than women (43%), and holds more significance for Baby Boomers (50%) than Gen Z (40%). 

There are substantial challenges for entrepreneurs, including inflation, which 80% of small business owners described as a barrier to their American Dream, the lack of access to free or affordable healthcare (32%) and discrimination (28%), including a lack of financial backing and support for women. 

In spite of these challenges, American microentrepreneurs hold a strong belief that the American Dream is well within reach. Survey participants reported feeling very confident (62%) that they would achieve their American Dream, with men (71%) feeling more self-assured than women (55%), and Millennials (66%) feeling most confident of all generations. 

The post Comfort and Joy: The New American Dream   first appeared on Direct Selling News.