Another Entrepreneurship Project of the  Whitman School of Management at Syracuse University

Entrepreneurs are Leading the Charge

The word ‘entrepreneurship’ has transitioned from business buzzword to continuing trend to now being a part of our everyday culture. Start-up businesses and growing ventures are gaining traction, both in numbers and in visibility. Crowd funding, angel investors, business plan competitions and incubators have helped to spur an entrepreneurial revolution throughout the United States—and the number of entrepreneurs has grown over the past several years.

Entrepreneur.com compiled statistics and
numbers showing thYoung Kid in Capee growing trend of entrepreneurs and start-ups across the U.S. over the past several years, as collected by the Global Entrepreneurship Monitor. According to the findings, 2012 was the year that reached the highest percentage of entrepreneurs (13% of the adult population) since 1999, when the study was first conducted.

The stats

Overall, the numbers of new businesses is increasing—but what does the segment of new entrepreneurs look like? The following are some of the notable statistics and demographics of the new business owners across the U.S.:

  • Male entrepreneurs outnumber female entrepreneurs in a 10 to 7 ratio
  • The majority of entrepreneurs operate out of their home (69%) and reach out to personal networks for start-up capital (82% are funded by their personal savings, family or friends and just 16% by banks)
  • These start-ups rarely sell outside of the U.S.
  • 75% of entrepreneurs start their business to pursue an opportunity, rather than starting up out of necessity
  • 37% plan to employ five or more people over the next five years

If you’re a start-up, have you made connections with many other new business owners? What are your plans for success/growth/job creation? Why did you decide to start your business?

To read more about the entrepreneurial trends in the U.S., please visit the following:

http://www.entrepreneur.com/article/226800

Thanks for reading, and until next time… stay WISE!

1 Comment

  1. Mike Smalllwood June 14, 2013 Reply

    Hey guys great blog. I am wondering if you can tell me if this is a photo (the child in the superhero cape) that you own the rights to or if you know where i might find the actual owner. I am doing layout work for a Kids Devotional and this photo would work perfect, any info would help greatly.
    Blessing
    Mike Smallwood Pentecostal Church of God

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