First Citizens Wealth Finds Business Owners Resilient Amid Change, with Experienced Owners Taking More Risks
First Citizens Wealth (FCNCA) published its second annual Beyond Wealth survey of 500 business owners and wealthy Americans on Nov 6, 2025, finding owners remain resilient and optimistic amid economic change.
Key findings: 66% fund ventures with personal savings, 40% use bank loans, experienced owners are twice as likely to use private equity/VC (38% vs 18%), owners reinvest and hire more, 54% of owners are very confident vs 35% of wealthy non-owners, and owners carry nearly 4x more debt. Wealthy Americans show rising private equity (45%) and crypto (35%) ownership, with generational splits: millennials favor business ownership and private investments; boomers favor CDs/money markets (74%).
First Citizens Wealth (FCNCA) ha pubblicato il secondo sondaggio annuale Beyond Wealth tra 500 proprietari di aziende e americani benestanti il 6 novembre 2025, rilevando che i proprietari restano resilienti e ottimisti nonostante i cambiamenti economici.
Principali risultati: 66% finanziano imprese con risparmi personali, 40% utilizzano prestiti bancari, i proprietari esperti hanno il doppio delle probabilità di usare private equity/VC (38% contro 18%), i proprietari reinvestono e assumono di più, 54% dei proprietari sono molto fiduciosi vs 35% dei ricchi non proprietari, e i proprietari hanno quasi 4x più debito. I ricchi americani mostrano una crescita della partecipazione in private equity (45%) e criptovalute (35%), con divisioni generazionali: i millennials preferiscono la gestione di imprese e gli investimenti privati; i baby boomers preferiscono CD/mercati monetari (74%).
First Citizens Wealth (FCNCA) publicó su segunda encuesta anual Beyond Wealth entre 500 dueños de negocios y estadounidenses adinerados el 6 de noviembre de 2025, encontrando que los propietarios siguen siendo resistentes y optimistas ante el cambio económico.
Hallazgos clave: 66% financian empresas con ahorros personales, 40% utilizan préstamos bancarios, los propietarios con experiencia tienen el doble de probabilidad de usar private equity/VC (38% frente a 18%), los propietarios reinvierten y contratan más, 54% de los propietarios están muy confiados frente a 35% de los ricos no propietarios, y los propietarios llevan casi 4x más deuda. Los estadounidenses ricos muestran aumento de propiedad en private equity (45%) y criptomonedas (35%), con divisiones generacionales: los millennials favorecen la propiedad de negocios y las inversiones privadas; los boomer prefieren CDs/mercados monetarios (74%).
First Citizens Wealth (FCNCA)는 500명의 사업주와 부유한 미국인을 대상으로 한 두 번째 연례 Beyond Wealth 설문조사를 2025년 11월 6일에 발표했고, 경제 변화 속에서도 소유주들이 회복력과 낙관성을 유지하고 있음을 발견했습니다.
주요 발견: 66%가 개인 저축으로 벤처에 자금을 대고, 40%가 은행 대출을 사용하며, 경험 많은 소유주들이 사모펀드/벤처캐피탈을 사용할 가능성이 두 배로 높고(38% 대 18%), 소유주들은 재투자하고 더 많은 채용을 하며, 소유주들의 54%가 매우 자신감이 있다고 응답했고 35%의 부유한 비소유주와 비교합니다, 그리고 소유주들은 거의 4배의 부채를 가지고 있습니다. 부유한 미국인들은 사모펀드(45%)와 암호화폐(35%) 보유가 증가하는 경향을 보이며, 세대 차이가 있습니다: 밀레니얼 세대는 사업 소유와 사적 투자에 더 호의적이고, 베이비부머는 CD/머니마켓을 선호합니다(74%).
First Citizens Wealth (FCNCA) a publié son enquête annuelle Beyond Wealth pour 500 propriétaires d’entreprises et Américains fortunés le 6 novembre 2025, révélant que les propriétaires restent résilients et optimistes face au changement économique.
Principales conclusions : 66% financent des ventures avec des économies personnelles, 40% utilisent des prêts bancaires, les propriétaires expérimentés sont deux fois plus susceptibles d’utiliser le private equity/VC (38% contre 18%), les propriétaires réinvestissent et recrutent davantage, 54% des propriétaires sont très confiants contre 35% des riches non propriétaires, et les propriétaires portent presque 4x plus de dettes. Les Américains fortunés montrent une hausse de la détention en private equity (45%) et en crypto-monnaies (35%), avec des divisions générationnelles : les millennials privilégient la propriété d’entreprises et les investissements privés ; les baby-boomers privilégient les CDs/marchés monétaires (74%).
First Citizens Wealth (FCNCA) veröffentlichte seine zweite jährliche Beyond Wealth-Umfrage unter 500 Unternehmern und vermögenden Amerikanern am 6. November 2025 und fand heraus, dass die Eigentümer in Zeiten wirtschaftlicher Veränderungen widerstandsfähig und optimistisch bleiben.
Zentrale Ergebnisse: 66% finanzieren Unternehmungen mit persönlichem Ersparten, 40% nutzen Bankdarlehen, erfahrene Eigentümer haben doppelt so viel Wahrscheinlichkeit, Private Equity/VC zu nutzen (38% vs 18%), Eigentümer reinvestieren und stellen mehr ein, 54% der Eigentümer sind sehr zuversichtlich vs 35% der wohlhabenden Nicht-Eigentümer, und Eigentümer tragen fast 4x mehr Schulden. Vermögende Amerikaner zeigen steigende Eigentumsraten an Private Equity (45%) und Krypto (35%), mit generationenspezifischen Unterschieden: Millennials bevorzugen Geschäftsbesitz und private Investitionen; Boomers bevorzugen CDs/Money Markets (74%).
First Citizens Wealth (FCNCA) نشرت استقصاءها السنوي الثاني Beyond Wealth لمالكي الأعمال و الأمريكيين الأثرياء من 500 شخص في 6 نوفمبر 2025، حيث وجدت أن المالكين يظلون مرنين ومتحمسين في وجه التغيرات الاقتصادية.
النتائج الرئيسية: 66% يمولون المغامرات من مدخراتهم الشخصية، 40% يستخدمون قروض بنكية، المالكون ذوو الخبرة أكثر احتمالاً مرتين لاستخدام الأسهم الخاصة/رأس المال المغامر (38% مقابل 18%)، يعيد المالكون الاستثمار ويوظفون أكثر، 54% من المالكين واثقون للغاية مقابل 35% من الأثرياء غير المالكين، ويحمل المالكون ما يقرب من 4x ديون. يظهر الأمريكيون الأثرياء تزايد ملكيتهم في الأسهم الخاصة (45%) والعملات المشفرة (35%)، مع انقسامات جيلية: جيل الألفية يفضلون امتلاك أعمال والاستثمارات الخاصة؛ جيل الببوفرمر يفضلون شهادات الإيداع/أسواق المال (74%).
- Experienced owners use private equity/VC at 38%
- Business owners reinvest and expand hiring at higher rates
- Owners report 54% very confident in their financial situation
- Business owners carry nearly 4x more debt than non-owners
- Over half of wealthy Americans report financial stress; 62% cite inflation
Second annual survey is based on a study including 500 business owners
"As business owners navigate inflation, market shifts and changing policy landscapes, the survey results underscore that they are finding innovative ways to preserve stability and plan for long-term growth," said Marc Horgan, Executive Director of First Citizens Wealth. "Working with an experienced wealth management team that understands both personal and business objectives can further support individuals and business owners alike as they plan their future with intention, build for the future of their business, adjust as needed, and ultimately pass down a lasting legacy."
Business Owners Resilient Amid Change, with Experienced Owners Taking More Risks
Most business owners (
Experienced owners are also reinvesting in their businesses at higher rates than first time owners, being twice as likely to expand operations or hire new employees, reflecting a focus on long-term growth despite economic headwinds. When responding to economic pressures, owners are most likely to adjust pricing strategies (
Looking ahead to an exit for their business, most owners plan to exit their business through a sale and current stakeholders including family, business partners or management/employees are the most commonly named successors to take on ownership. Yet only two in five plan to retire following their business exit, suggesting an appetite to continue working.
Financially, business owners are notably self-assured:
54% are very confident in their financial situation, compared with35% of wealthy non-owners.- On average, owners have greater retirement savings than non-owners but carry nearly four times more debt.
- Personal and business finances overlap for many, often sharing the same bank accounts, credit cards, tax professionals and financial advisors for both.
94% say that business ownership provides personal fulfillment – outweighing financial stress.
"Even amid economic uncertainty, there's a clear sense of control and optimism among business owners – they are adjusting, not retreating," said Nerre Shuriah, Senior Director of Wealth Planning & Knowledge at First Citizens Wealth. "That said, business owners are missing the larger opportunity to protect their wealth. By partnering with a financial professional early on, business owners can build in long-term financial flexibility to help offset some of the entrepreneurial risks they may be taking and have a clearer understanding of both sides of their personal balance sheet."
Wealthy Americans: Branching Out and Spending Less
Since 2024, wealthy Americans have broadened their sources of savings and wealth. While investments and income from working remain the top sources, the source of wealth that saw the biggest increase year-over-year was "stock/options in company employed with." The top source of wealth also varies by generation: business ownership for millennials (
Despite strong financial positions, over half of wealthy Americans report feeling stressed about their finances. Inflation remains the top stressor (
When it comes to investing, most wealthy Americans maintain a focus on traditional assets – stocks, mutual funds, ETFs – but diversification is growing. Nearly half (
For more insights from the Beyond Wealth study by First Citizens Wealth, visit: https://www.firstcitizens.com/wealth/insights/business-planning/beyond-wealth-report
About the Survey
The online survey was conducted among a sample of 1,100 Americans with greater than
About First Citizens Wealth
First Citizens Wealth offers a full range of financial planning, asset management, private banking, brokerage, investment advisory, insurance and trust services to individuals and institutional clients. Learn more at https://www.firstcitizens.com/wealth.
About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in
Disclosures
First Citizens Wealth™ (FCW) is a marketing brand of First Citizens BancShares, Inc., a bank holding company. The following affiliates of First Citizens BancShares are the entities through which FCW products are offered. Brokerage products and services are offered through First Citizens Investor Services, Inc. ("FCIS") , a registered broker-dealer, Member FINRA and SIPC. Advisory services are offered through FCIS, First Citizens Asset Management, Inc. and SVB Wealth LLC, all SEC registered investment advisers. Insurance products and insurance are offered through FCIS, a licensed insurance agency. Banking, lending, trust products and services, and certain insurance products and services are offered by First-Citizens Bank & Trust Company, Member FDIC, and an Equal Housing Lender and SVB, a division of First-Citizens Bank & Trust Company.
All loans provided by First-Citizens Bank & Trust Company and SVB are subject to underwriting, credit, and collateral approval. Financing availability may vary by state. Restrictions may apply. All information contained herein is for informational purposes only and no guarantee is expressed or implied. Rates, terms, programs, and underwriting policies are subject to change without notice. This is not a commitment to lend. Terms and conditions apply. NMLSR ID 503941
Consulting services including overseeing plan design, investment fiduciary services, investment selection and monitoring, and continuous benchmarking are offered through First Citizens Bank and Trust Company. First Citizens Wealth is a registered trademark of First Citizens BancShares, Inc.
Media Contact
Liz Shapiro
Elizabeth.shapiro@firstcitizens.com
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FAQ
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