Entrepreneurs make up the some of the most important aspects of business in America. While people like Elon Musk and Mark Zuckerberg account for the majority of the headlines and the fanfare in modern pop culture, the reality is that small businesses play a major role in what drives our economy forward. From independent entrepreneurs running their business as the sole employee to small business owners with 45 employees, the fabric of what it takes to start and run your own company is largely the same. Technology has paved the way for more and more entrepreneurs to realize their dreams sooner rather than later.
One of the best ways to motivate an aspiring entrepreneur is to offer meaningful facts and figures. Below are some of the most interesting entrepreneurship statistics today:
- 6 percent of the U.S. population is made up of business owners whose main job is their own company
- 80 percent of entrepreneurs use their own funds to support their companies
- 62 percent of billionaires in the U.S. are self-made
- The U.S. ranks 1st amongst 138 countries for the best environment to cultivate entrepreneurs
- Freelancers make up 55 million workers in the U.S.
- Nearly 70 percent of entrepreneurs in the U.S. start their business at home
- Finance, insurance, and real estate industries have seen the biggest portion of startup success
- The average age of Millennials starting companies is 27
- Artificial Intelligence (AI) is the fastest growing industry for entrepreneurs and startup companies
Taking the entrepreneurial leap means combining talent, passion, and tough skin. While starting your own company is not for everyone, those willing to take the plunge must be ready to spend long days and nights fighting for their vision and their business. Determining the right structure for your business is an important decision requiring experienced legal guidance. Contact our office today to get started on your new business.
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