The 21st century has seen record numbers of entrepreneurs launching businesses
on a global basis.
Current competitive conditions favor large companies over smaller ones because
of their flexibility combined with their ability to use their size to achieve
efficiency and economies of scale.
Increased entrepreneurial activity is a phenomenon unique to the U.S.
One study conducted by the Global Entrepreneurship Monitor (GEM) reports that
nearly one in eight people in the United states is working to start a
Research has isolated a set of characteristics that can predict who will
succeed as an entrepreneur.
Serial entrepreneurs repeatedly start businesses and grow them to a sustainable
size before striking out again.
Surveys show that small business owners believe that, as entrepreneurs, they
work harder, earn more money, and are happier than if they worked for a large
The opportunity to reap impressive profits is the primary motivation for most
Social entrepreneurs use their skills to create profitable businesses and also
achieve economic, social and environmental goals for the common good.
Technology offers a significant advantage for entrepreneurs.
Entrepreneurs choose to enter their particular business fields because they
have an interest in them and enjoy those lines of work. They have often made
their hobbies their business.
The majority of new business owners work fewer than 40 hours per week.
The majority of new business owners devote more than 40 hours per week to their
One advantage of being your own boss and owning a small business is that work
hours are very flexible and leisure time is abundant.
Entrepreneurs are not willing to give up a steady paycheck.
There is concern over the future of entrepreneurship because so few high school
and college students want to start their own companies.
The shift to a service economy has not had a significant impact on
Cloud computing allows businesses to use a variety of applications and has
reduced costs and added flexibility.
Women now own 28.7 percent of all privately-held businesses in the United
Women play a minor role in the entrepreneurial arena.
Starting a part-time business is a popular gateway to entrepreneurship.
Increasing numbers of women are discovering that the best way to break the
“glass ceiling” that prevents them from rising to the top of many
organizations is to start their own companies.
Diversity may be considered a characteristic of entrepreneurs, as they don’t
fit any statistical norm.
Minority-owned businesses have come a long way in the past decade, and their
success rate is climbing.
A major advantage of launching a business part-time is the lower risk it offers
in case the business fails.