23+ Amazing Entrepreneur Statistics Of 2023

Small businesses, industries, and many enterprises are at the heart of every industry.

With a shift to the gig economy and start-up launches, people are now turning to entrepreneurship because they want to be their own boss.

The need for flexibility, autonomy, and the yearning to have more of an impact are some other main drivers behind the decision. 

However, due to lack of experience and no market for the newly launched products, 20% of the businesses fail within the first year.

Entrepreneurship is a gutsy career that takes determination, hard work, and patience.

One of the keys to success is knowing the facts and figures because the future of entrepreneurship is always uncertain. 

In this article, we’ll share 25 Amazing entrepreneur statistics that will help you learn the important factors that lead to entrepreneur success, failure, funding, and more before diving into your own business. Let’s get started!


General Entrepreneur Statistics: Editor’s Pick

Here are 25 Amazing entrepreneur statistics:

  • The U.S. ranked highest on the list of best countries to start a business. 
  • Approximately 440,000 new businesses were founded in the United States in June 2021
  • 24 million Americans want to become self-employed but face barriers to making it happen. 
  • Over half of the adults in the United States start their own businesses at some point. 
  • Every 1 in 5 entrepreneurs own or manage their business with the help of family members. 
  • 96% of the self-employed people have no desire to return to their regular jobs. 
  • 46% of small business entrepreneurs are between ages 41 and 56. 
  • Almost 20% of the small start-ups fail within the first year. 
  • Control, finances, and a sense of fulfillment are the top three reasons why people choose to be self-employed professionals. 
  • Middle-aged men are most likely to start a successful business.
  • 70% of business owners in the United States are white. 
  • 27% of the small business in the U.S. are owned by women.
  • Nearly half of the business owners in the U.S. don’t have a college degree.  

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1. There are more than 582 million entrepreneurs around the world 

There has been a remarkable rise in the number of new businesses all around the globe. However, some places offer better opportunities for entrepreneurs than others.

Developed countries are more desirable to start a new business, thanks to established infrastructure and skilled labor.

On the contrary, in developing countries, entrepreneurship is not very well-received and understood.   

2. 15.8 million People in America are fully-self-employed 

Over the past few years, the number of self-employed people in the United States has increased drastically.

The entrepreneurial statistics from FreshBooks have shown a significant increase in independent work.

In 2020, more than 15.8 million people, 10.9% of the total population, were fully self-employed, and 24 million want to become self-employed by 2022.

3. 90% of billionaires in the United States are self-made  

90% of billionaires in the United States are self-made  

Despite the financial disaster during the pandemic of Covid-19, some people enjoyed an extraordinary wealth flow.

Forbes’ annual list of ‘Richest people in 2021’ listed 493 new billionaires, which makes the total number of billionaires in the world 2,755. Among the newcomers, there are 88 Americans, most of whom are self-made billionaires.

4. 55% of Americans think they can start their own business

Every three in five Americans have had an idea for starting a business, and 34% have more than one business idea.

However, 92% of people don’t do anything to turn those ideas into reality due to a lack of resources and capital. Only 55% of Americans strongly believe they can start their own business.

5. 58% of the entrepreneurs used to work in the corporate world 

According to entrepreneur statistics, 58% of the entrepreneurs said they worked in the corporate world before starting their businesses.

The pandemic was a macro-level career shock for millions of Americans, and many people realized that it was about time to start their new businesses.

55% wanted to be their own boss, 39% have found their passion, while 25% felt dissatisfied with the corporate world and wanted a change.

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6. The U.S. ranks highest on the “best countries for entrepreneurship Index”

The USA is considered the most desirable place to start a business globally.

According to the latest entrepreneur statistics, the country scored 83.6 on the best countries for entrepreneurship index, followed by Germany, the U.K., and Israel.

Access to capital, excellent entrepreneur opportunities and skilled labor are among the main reasons for the country’s desirability.

7. Virginia, North Carolina, and Utah are the top states for start-ups  

As per the latest entrepreneur statistics, these three states are the top states to start a business due to the low cost of living and large skilled labor force than coastal states such as New York and California.

Other qualities that make them the best options include the reasonable cost of living and good infrastructure. 

8. Only 40% of the small businesses in America are profitable 

Starting a business is only half the job; you also have to make it lucrative.

The latest entrepreneur statistics from NBCS show that only 40% of the small businesses are profitable, about 30% of the businesses break even, and the final 30% lose money.

Currently, six in ten small businesses in the U.S. are profitable, while 20% of the businesses fail within the first year. 

9. Only 27% of U.S. entrepreneurs are women

According to Guidant Financial, only 7% of small business owners in the United States are women.

As per further stats from Global Entrepreneurship Financial, 71% of these women start a business to make a difference, while 65% of women just want to make a high income as opposed to 73% of the males. 

10. White business owners hold an 80% stake in all U.S. businesses 

According to statistics from Pew Research Center, an overwhelming majority of business owners in the U.S. is white, holding an 80% stake in overall businesses.

On the other hand, Asian entrepreneurs are the second largest racial group that runs 10% of all U.S. businesses, followed by Hispanic or Latino (14.3% and African American (6%).

The lowest representation is of Alaska Native and American Indian entrepreneurs, with only 0.5%of business owners in America. 

11. 46% of the entrepreneurs have no college degree 

When it comes to college degrees, nearly half of the business owners in the U.S. don’t have a college degree.

Only 13% of the entrepreneurs in the U.S. have a formal education in business-related studies.

According to the stats from Guidant Financial, only 30% of the entrepreneurs have finished high school, 31% have an associate degree, 17% have a bachelor’s degree, 18% have a master’s, and only 4% have a Ph.D. 

12. Nearly half of the U.S. economy accounts for small businesses 

Local business statistics reveal that almost 44% of the U.S. economy is comprised of small businesses.

Nearly two-thirds of the new jobs are created by small companies, which have had an amazing growth rate at a CAGR of 1.4% for the last few years. 

13. 62% of adults believe Entrepreneurship to be a good career

Worldwide, people are thinking that entrepreneurship benefits are growing.

The Global Entrepreneurship Model entrepreneur’s statistics from 2018/2019 said that more than half of the people feel that starting their own business is a great move towards a good career.

There may also be some misunderstandings because, surprisingly, 40% of candidates think it’s easy to start a business, and 49% said they have what it takes to do it. 

14. More than half of the adults in the United States start their own business at some point 

Currently, there are over 31 million entrepreneurs in the United States.

More than half of the adults (55%) say they have started a business at some point in their lives, and 26% have founded at least two firms.

Fun facts about entrepreneurship have shown that the general attitude of adults about entrepreneurship is very positive, and almost 63% of the population consider it a great career option.

15. 96% of the self-employed people don’t want to do a regular job again 

Running your own business is not an easy job, and almost 30% of entrepreneurs make no salary.

However, regardless of the challenges involved, 96% of self-employed people say they have no wish to go back to their regular job because it is not worth it. 

16. out of 5 people have not tried entrepreneurship because they are loyal to their job 

According to entrepreneur statistics from FreshBooks, loyalty is the biggest factor why many people are still reluctant to take a plunge into entrepreneurship.

People often thought about enterprises as corporate rebels and loyal employees who are committed to the success of their company and less likely to see the greener grass elsewhere.  

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17. 83.% of business owners in America started their companies from scratch 

According to FactFinder, 83.1% of business owners in the United States have built their companies on their own.

11.3% of owners have purchased their businesses, while a significantly small percentage of 7.2% have inherited or received them as a gift from their relatives or friends.

18. Business and food are the most sought-after industries by entrepreneurs

Guidant Financial conducted a Survey of the most famous industries for small businesses. 12% of people responded to be a part of the food and restaurant business, followed by commerce and business services with 11%, health/beauty and fitness services (9%), and residential or commercial services with 7%. 

19. 59% of entrepreneurs rely on a loan to expand their business 

According to FactFinder, 83.1% of business owners in the United States have built their companies on their own.

11.3% of owners have purchased their businesses, while a significantly small percentage of 7.2% have inherited or received them as a gift from their relatives or friends.

20. 39% of entrepreneurs use cash to start their company 

The figures from Guidant financial shows that 39% of business owners use cash to start a company.

20% of the entrepreneurs use their retirement funds, 10% ask for financial help from their friends and family, while 24% rely on credit and loans. Crowdfunding was used by only 1% of the businesses. 

21. Middle-aged men tend to be more successful with new businesses 

Most people say that young people have the most potential to run the most successful businesses.

However, the average age for successful entrepreneurs is 45. About 40% of the new start-ups are run by entrepreneurs under 40.

Additionally, 18% of them manage more than one company. Entrepreneurs Statistics tell us that business owners with new companies hire at least one employee of the age of 42. 

22. 43% of employees believe that control over one’s career is the biggest advantage of being self-employed

For 43% of employees surveyed, career change is the biggest benefit and motivation for giving up the traditional 9 to 5 jobs.

33% state that they chose self-employment due to financial incentives, 32% list family reasons, and only 15% state health.

Most employees believe that b being your boss is far less stressful and significantly improves mental health.

23. 54% of self-employed entrepreneurs admit to earning more money now 

67% of employees feel that switching to self-employment would certainly help them make more money.

Based on entrepreneur statistics, 54% of the employees said they earn more money after making the switch.

74% sad that they also have to work harder after becoming self-employed, but in reality, only 59% of the entrepreneurs do so. 

24. Approximately 440,000 new start-ups were launched in June 2021

Following the COVID-19 pandemic, there was a record increase in entrepreneurial activity in the U.S. Approximately 440,000 new businesses were founded in June 2021; due to the displacement of workers from their jobs and the rise of the work-from-home opportunities, the pandemic presented.

The Covid-19 pandemic accelerated the entrepreneurial plans of 83% of the people. 

25. 17 million new businesses will be founded in 2022

2022 marks the third consecutive year of notable growth in entrepreneurship opportunities.

Around 17 million new businesses will be found at the end of this year, as we all know the COVID-19 pandemic is not going away anytime soon. 

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