Building and construction small business owners’ optimism is on the rise, according to a new study released by Hiscox, a small business insurer. Within the industry, 51 percent of manufacturing and engineering small business owners are optimistic about the year ahead for their businesses, compared to 43 percent in last year’s study.

The study, “DNA of an Entrepreneur,” includes insights from small and medium-sized businesses across the country. Following are key findings from the survey.
  • Forty percent of U.S.-based building and construction small business owners are suffering from increased stress due to the economic climate in the past five years. Stress was also the most widely cited impact last year.
  • The biggest fear for U.S.-based building and construction small business owners is passing cost increases on to their customers (51 percent). An equal number of building and construction small business owners see not being paid by clients as a major risk to their business that they aren’t insured against—down slightly from 58 percent last year.
  • Seventy-seven percent of U.S.-based building and construction small business owners believe government bureaucracy is a major barrier to setting up their own business. This sector spends more than two hours (123 minutes) per week dealing with the government.
The full report can be downloaded at hiscoxdnareport.com/2014.