If 2024 resembles the last two years, this marks an excellent time for starting a business. Entrepreneurs in the US launch roughly 4.4 million new businesses every year. Both 2022 and 2023 blew that average out of the water, with 5 million startups in 2022 and a massive 5.7% year-over-year increase over that in just…
Starting a Business
50 Small Business Statistics for 2024
2024 promises to be a year of challenge and growth for small businesses. Everyone may be tired of hearing about COVID, but those years changed the nature of business. In 2024, small business owners are still dealing with inflation, supply chain issues, and changes in what employees expect from the workplace. Below are 50 statistics…
Breaking Through: Women in Business Statistics & Advice From Founders
Women entrepreneurs have historically faced challenges starting a business. But women-led businesses have been the main drivers of the post-pandemic small business boom. We’ve collected integral women-in-business statistics and asked some iconic, female small business owners for their advice and insights. If you are a woman in business or are aspiring to be one, these…
12 Recession-proof Business Ideas That Stay Profitable
Starting a new business during economic uncertainty might seem daunting, but some businesses can thrive even in tough times. Understanding which business ideas will be resilient during downturns can provide a solid foundation for entrepreneurs looking to navigate the challenges of a recession. These recession-proof business ideas not only can withstand economic hardships but also…
42 Entrepreneurship Statistics & Trends to Know in 2024
Entrepreneurship is almost always on the rise, and recent data reveals there’s good and bad news—all of which is important to know in supporting your entrepreneurial endeavors. We’ve divided these key entrepreneurship stats into seven overall categories to help guide your current and future entrepreneurial decisions. General Entrepreneurship Statistics 1. There are over 98,000 entrepreneurs…
How to Start a Business With No Money
Starting a business can be a daunting task—more so if you want to do it without any money. But just because you have little to no starting capital doesn’t mean you have nothing going for you. Many of the most crucial steps in starting a business have little to do with how much money you…
What Is Social Entrepreneurship? Ultimate SMB Guide
Social entrepreneurship prioritizes social impact alongside profit. By addressing societal needs, this approach connects business success to doing social good.
Social entrepreneurship is a business approach focused on addressing social, cultural, or environmental issues. At the heart of social entrepreneurship are individuals who harness their entrepreneurial skills and resources to seek out lasting solutions to challenges often overlooked by conventional markets, working within a variety of organizational frameworks to achieve their goals. Integrating social missions…
How Much Do Small Business Owners Make?
Based on self-reported numbers, the average US small business owner income is around $127,00 per year, or $62 per hour. That is considerably higher than the National Wage Index[1] for non-self-employed workers, which lists the average annual US wage at $63,795. However, small business owner incomes can range between $25,000 and $339,500 annually[2], based on…