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Being an entrepreneur requires far more than just having big ideas. It takes a combination of grit, purpose, and the ability to think big. Without these qualities, it’s difficult to find the motivation to push through when the going gets tough or to see your idea through to its full potential.
Grit is what allows you to weather the ups and downs of startup life and keep going even when things get tough.
Purpose gives you a reason to get up every day and fight for your idea, even when everyone else is telling you it’s not possible. And thinking big is what allows you to see your idea not just as a small business, but as a world-changing venture.
These are the three qualities that run deep in an entrepreneur. They’re what separates those who make it from those who don’t. So if you’re thinking about taking the entrepreneurial plunge, ask yourself if you have what it takes.
If you do, then there’s no limit to what you can achieve.
General Entrepreneur Stats
The number of entrepreneurs around the globe is expected to reach 582 million by the year 2021.
55% of entrepreneurs started their own businesses because they wanted to be their own bosses.
In the first year of firm ownership, 20% of entrepreneurs fail.
Entrepreneurship is a popular choice for many people because it provides a sense of fulfillment, freedom, and financial security.
Between 2014 and 2019, the total number of firms in the United States increased by roughly 9%.
With a budget of less than $25,000, 58% of entrepreneurs in the United States begin their firms.
As many as a third of all entrepreneurs in the United States (33%) begin their firms with a budget of less than $5,000.
Gender Entrepreneur Statistics
Male entrepreneurs make up 54.1% of all U.S. entrepreneurs, while female entrepreneurs make up only 40.4% of the total.
The average annual salary for a male entrepreneur in the United States is $96,582.
The average annual salary for a female entrepreneur in the United States is $82,001.
Male entrepreneurship in the United States has fallen by 1.85 percent during the past decade.
Female business owners in the United States have increased by around 114 percent during the past two decades.
Men and women are about equally likely (32%) to have a strong sense of entrepreneurial spirit.
90.3 percent of female business owners and 82.3 percent of male business owners operate micro-businesses.
Small and medium-sized firms are owned by just 1.3 percent of female business owners.
3.3% of White male company owners own medium-sized or larger firms. Entrepreneurship programs provide financial assistance to 33.9% of men and 23.8% of women.
Race Entrepreneur Statistics
In the United States, 73 percent of all entrepreneurs are white.
In the United States, black women make up 35 percent of all Black entrepreneurs.
About 6.4 million U.S. businesses were led by women of color in 2019.
Sixty-seven percent of all African-American entrepreneurs are millennials or Gen Xers.
Between 2016 and 2019, the number of Latino-owned firms in the United States grew by more than 34%.
Ten percent of all enterprises in the United States are owned and operated by Asians.
Age Entrepreneur Statistics
In the United States, the average age of an entrepreneur is 46 for white men. In the United States, the average age of a White female entrepreneur is 44.
Black or African American male entrepreneurs in the United States are typically 46 years of age.
In the United States, the average age of a Black or African American female entrepreneur is 42 years of age.
In the United States, 64 percent of all entrepreneurs are above the age of 40.
9 percent of all US entrepreneurs are between the ages of 20 and 30.
In the United States, Generation Xers make up 46 percent of small business owners, according to a recent study. Millennials account for 10% of all US entrepreneurs.
Degree Entrepreneur Statistics
In the United States, 62% of all business owners have at least a bachelor’s degree.
In the United States, 11% of all entrepreneurs have a graduate degree.
In the United States, 6% of all business owners have only completed high school.
Most business owners have no formal training in the field.
Only 9% of self-employed professionals have a bachelor’s degree in business.
Income Entrepreneur Statistics
An average American entrepreneur makes $61,000 a year.
Entrepreneurs in Asia often make the greatest money.
Entrepreneurs with a Master’s degree make an average annual salary of $151,512.
Successful entrepreneurs typically earn around $114,278 per year on average.
Women Entrepreneur Statistics
Approximately 13 million enterprises are held by women in the United States in 2019.
252 million of the world’s 582 million entrepreneurs are women.
Moreover, a third of the world’s entrepreneurs are women.
Millennials and Generation Xers account for 63% of all American female entrepreneurs.
Baby boomers account for 36% of all American female entrepreneurs.
The health, beauty, and fitness industries make up 13 percent of all firms owned by female entrepreneurs in the United States.
Between 2014 and 2019, the number of women-run businesses in the United States increased by roughly 21%.
Passion is the driving force for 71% of female entrepreneurs.
Entrepreneur Statistics by Country
The United States of America is the world’s most enterprising nation.
The world’s top country for entrepreneurship, according to a recent poll, is Japan.
Next in line to Japan, Germany, and United States are Germany and the United Kingdom when it comes to entrepreneurship.
The biggest percentage of Latin American startups is found in Chile (36.7 percent) and Ecuador (36.2 percent).
Switzerland (80.4 percent) is in second, and Canada (83.6%) is third in the global GEI (Global Entrepreneurship Index) (79.2 percent ).
The GEI for Chad is the lowest of the 137 countries tested (9 percent ).
There are more women entrepreneurs in Angola (51.1 percent) than in any other country, followed by Panama (29.1 percent) and Saudi Arabia (28.4 percent) (17.7 percent ).
USA Entrepreneur Statistics
The number of entrepreneurs in the United States will reach 31 million by 2021.
Entrepreneurs make up 16% of the over-21 population in the United States.
About a quarter of all Americans ran their own business in 2015.
This country’s Global Entrepreneurship Index (GEI) score is 83.6.
The United States has the highest global GEO, indicating that it is the best place in which to start a business.
In the United States, more than 81.5 percent of entrepreneurs started their enterprises from the ground up.
18.5 percent of American business owners purchased, received, or inherited their company from a third-party seller or owner.
Moreover, a quarter of American business owners have more than one company.
India Entrepreneur Statistics
In India, there are around 58.5 million self-employed individuals.
Only 14% of Indian business owners are women, compared to 86% of men.
It was estimated that in 2020, India’s TEA (total early-stage entrepreneurial activity) was 5.3%.
By 2020, the TEA in India was down 10% from where it was in 2019.
Sixty-five percent of Indian new entrepreneurs say the pandemic has opened up new business possibilities.
When it comes to starting your own business, India ranks near the bottom, with a GEI (Global Entrepreneurship Index) of 25.1% in 2019.
There is a 16-year-old Indian entrepreneur on the rise.
UK Entrepreneur Statistics
There will be 5.9 million business owners in the United Kingdom in 2020.
Ninety-one percent of UK entrepreneurs make it through the first year.
The typical age of an entrepreneur in the United Kingdom is 40.
About a third of enterprises in the United Kingdom are owned by women.
In the UK, just 7% of entrepreneurs are from a minority ethnic group.
Japan Entrepreneur Statistics
Most Japanese people know someone who has established a business in their own right, with the percentage hovering around 17%.
The dread of failure affects 43.5 percent of Japanese business owners.
In Japan, more than half of all entrepreneurs start their businesses with the intention of making a fortune.
Most Japanese entrepreneurs are motivated by the desire to have a positive impact on the world around them.
Total early-stage entrepreneurship activity (TEA) in Japan reached 5.40 percent in 2019.
In Japan, only 24.6 percent of the population thinks that entrepreneurship is an excellent career path.
Interesting Entrepreneur Facts
Entrepreneurs in the United States are fluent in Spanish (45.2 percent), French (9.4 percent), and Chinese, the three most popular foreign languages (7.3 percent ).
Entrepreneurs over the age of 50 are 2.8 times more likely to succeed than those under the age of 25, on average.
Almost a third of new business owners are concerned about erratic income.
A majority of business owners say that the first year is the most challenging.
Within the first five years, half of all businesses fail.
As long as the business isn’t too big, a college degree isn’t going to make or break it.
About 29% of business owners do it because they want to be in charge of their own destinies.
About one-seventeenth of entrepreneurs leave their corporate jobs to start their own businesses.
COVID-19 Entrepreneur Statistics
Around the world, 31% of small businesses have been forced to close because of the pandemic.
About a quarter of the population knows someone who established a business as a result of the outbreak.
In 2020, there were 95 percent more businesses launched by Americans than in 2019.
More than 79 percent more new company applications will be lodged each week in 2020 than in 2019.
Entrepreneurs, on average, expect a rebound in business activity following the outbreak of the pandemic.
During the epidemic, about 12.5% of new enterprises have witnessed an increase in revenue.
People are creating their own firms in 2021 even if the coronavirus outbreak has impacted entrepreneurship. Having more independence, flexibility, and control in one’s life is the most prevalent reason for starting a business. A look at the stats in this article will help you decide whether or not to establish your own business.
These data, trends, and facts are meant to assist you in better understanding entrepreneurship and to help you flourish as an entrepreneur. Embroker, Legal Zoom, Statista, Gem Consortium, and others provided the data for this article on entrepreneurship trends and statistics.
Hello readers, I'm Kane Taylor a full-time blogger and content marketer. In this blog, you'll find reviews on the best SaaS products that are worth your time!
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