Who Are Entrepreneurs?

WHO ARE THE ENTREPRENEURS? WHERE THEY COME FROM, AND WHAT THEY'RE UP AGAINST: 40 THE AVERAGE AGE OF BUSINESS FOUNDERS YEARS WHEN THEY START THEIR BUSINESS. OLD 52% OF BUSINESS FOUNDERS WERE THE FIRST IN THEIR IMMEDIATE FAMILIES TO DO SO. 70% OF BUSINESS FOUNDERS WERE MARRIED WHEN THEY STARTED THE BUSINESS. 40% 75% OF BUSINESS FOUNDERS HAD NO CHILDREN WHEN THEY STARTED THE BUSINESS HAVE WORKED AS EMPLOYEES AT OTHER COMPANIES FOR MORE THAN SOX YEARS BEFORE LAUNCHING THEIR OWN COMPANIES DEMOGRAPHICS: U.S. ENTREPRENEURS By Family's Class By Education Level 71.5 PERCENT OF RESPONDENTS CAME FROM MIDDLE CLASS BACKGROUNDS (MA PERCENT UPPER MIDDLE 95.1 PERCENT HAVE A BACHELORS DEGREES, AND 47 PERCENT HAVE MORE ADVANCED DEGREES CLASS AND 36.9 PERCENT LOWER-MIDOLE CLASS) BACHELORS 48.0% MASTERSAMBA 32 PHD 105% I OTHER 4 MIDDLE CLASS 71% LOWER CLASs 22% I UPPERCLASS 60% 024% ASSOCIATES 1 By Birth Order By Country of Origin 1ST 42.5% USA 2S% 2ND 28.1 OTHER 67% INDIA 1N 3RD 149% UK 1.7% 4TH6 4TH6 CANADA 13 STH4.5% GERMANY 1.0 STH+ 33% IRAN, ITALY, CHINA, NORWAY, TAIWAN<1.0% GENDER: EMPLOYMENT STATUS PRIOR TO START-UP: 59% FULL TIME 80% 23% PART TIME 12% 19% NOT EMPLOYED 8% FORMS OF ENTRY OF START-UP 85% INDEPENDENT 89% 10% FRANCHISE 4% 4% SPONSORED BUSINESS 4% 1% PURCHASE OBSTACLES: BIGGEST OBSTACLES FACING ENTREPRENEURS THE NUMBER ONE CONCERN FACING STARTUP COMPANIES IS ACCESS TO CAPITAL CAPITAL-RELATED OBSTACLES: 37% INITIATING CONTACT WITH POTENTIAL INVESTORS ALLOCATING AND FINDING THE RIGHT INVESTORS MEASURING THE SERIOUSNESS OF THE INVESTORS CONNECTING WITH INVESTORS TOO COSTLY OTHER OBSTACLES TOP PROBLEMS FACING SMALL BUSINESSES ACCORDING TO A RECENT U.S. SMALL BUSINESS ADMINISTRATION SURVEY: 1 COST OF HEALTH INSURANCE 2 COST OF FUEL/GAS 3 FEDERAL TAXES ON BUSINESS INCOME 4 PROPERTY TAXES 5: TAX COMPLEXITY 6 UNREASONABLE GOVERNMENT REGULATIONS 7: STATE TAXES ON BUSINESS INCOME 8 COST OF SUPPLIES/INVENTORIES 9: ELECTRICITY COSTS 10: WORKERS' COMPENSATION COSTS Contact he SOURCES: METRIWW.PAPERS SSAN.COM HTTPWWW.INTREPRENEUR.COM HTTPWWW.GAEBLER.COM HTTPWWW.5BA.GOV WHO ARE THE ENTREPRENEURS? WHERE THEY COME FROM, AND WHAT THEY'RE UP AGAINST: 40 THE AVERAGE AGE OF BUSINESS FOUNDERS YEARS WHEN THEY START THEIR BUSINESS. OLD 52% OF BUSINESS FOUNDERS WERE THE FIRST IN THEIR IMMEDIATE FAMILIES TO DO SO. 70% OF BUSINESS FOUNDERS WERE MARRIED WHEN THEY STARTED THE BUSINESS. 40% 75% OF BUSINESS FOUNDERS HAD NO CHILDREN WHEN THEY STARTED THE BUSINESS HAVE WORKED AS EMPLOYEES AT OTHER COMPANIES FOR MORE THAN SOX YEARS BEFORE LAUNCHING THEIR OWN COMPANIES DEMOGRAPHICS: U.S. ENTREPRENEURS By Family's Class By Education Level 71.5 PERCENT OF RESPONDENTS CAME FROM MIDDLE CLASS BACKGROUNDS (MA PERCENT UPPER MIDDLE 95.1 PERCENT HAVE A BACHELORS DEGREES, AND 47 PERCENT HAVE MORE ADVANCED DEGREES CLASS AND 36.9 PERCENT LOWER-MIDOLE CLASS) BACHELORS 48.0% MASTERSAMBA 32 PHD 105% I OTHER 4 MIDDLE CLASS 71% LOWER CLASs 22% I UPPERCLASS 60% ASSOCIATES 1 By Birth Order By Country of Origin 1ST 42.5% USA 2S% 2ND 28.1 OTHER 67% INDIA 1N 3RD 149% UK 1.7% 4TH6 4TH6 CANADA 13 STH4.5% GERMANY 1.0 STH+ 33% IRAN, ITALY, CHINA, NORWAY, TAIWAN <1.0% GENDER: EMPLOYMENT STATUS PRIOR TO START-UP: 59% FULL TIME 80% 23% PART TIME 12% 19% NOT EMPLOYED 8% FORMS OF ENTRY OF START-UP 85% INDEPENDENT 89% 10% FRANCHISE 4% 4% SPONSORED BUSINESS 4% 1% PURCHASE OBSTACLES: BIGGEST OBSTACLES FACING ENTREPRENEURS THE NUMBER ONE CONCERN FACING STARTUP COMPANIES IS ACCESS TO CAPITAL CAPITAL-RELATED OBSTACLES: 37% INITIATING CONTACT WITH POTENTIAL INVESTORS ALLOCATING AND FINDING THE RIGHT INVESTORS MEASURING THE SERIOUSNESS OF THE INVESTORS CONNECTING WITH INVESTORS TOO COSTLY OTHER OBSTACLES TOP PROBLEMS FACING SMALL BUSINESSES ACCORDING TO A RECENT U.S. SMALL BUSINESS ADMINISTRATION SURVEY: 1 COST OF HEALTH INSURANCE $ 2 COST OF FUEL/GAS 3 FEDERAL TAXES ON BUSINESS INCOME 4 PROPERTY TAXES 5: TAX COMPLEXITY 6 UNREASONABLE GOVERNMENT REGULATIONS 7: STATE TAXES ON BUSINESS INCOME 8 COST OF SUPPLIES/INVENTORIES 9: ELECTRICITY COSTS 10: WORKERS' COMPENSATION COSTS Contact he SOURCES: METRIWW.PAPERS SSAN.COM HTTPWWW.INTREPRENEUR.COM HTTPWWW.GAEBLER.COM HTTPWWW.5BA.GOV WHO ARE THE ENTREPRENEURS? WHERE THEY COME FROM, AND WHAT THEY'RE UP AGAINST: 40 THE AVERAGE AGE OF BUSINESS FOUNDERS YEARS WHEN THEY START THEIR BUSINESS. OLD 52% OF BUSINESS FOUNDERS WERE THE FIRST IN THEIR IMMEDIATE FAMILIES TO DO SO. 70% OF BUSINESS FOUNDERS WERE MARRIED WHEN THEY STARTED THE BUSINESS. 40% 75% OF BUSINESS FOUNDERS HAD NO CHILDREN WHEN THEY STARTED THE BUSINESS HAVE WORKED AS EMPLOYEES AT OTHER COMPANIES FOR MORE THAN SOX YEARS BEFORE LAUNCHING THEIR OWN COMPANIES DEMOGRAPHICS: U.S. ENTREPRENEURS By Family's Class By Education Level 71.5 PERCENT OF RESPONDENTS CAME FROM MIDDLE CLASS BACKGROUNDS (MA PERCENT UPPER MIDDLE 95.1 PERCENT HAVE A BACHELORS DEGREES, AND 47 PERCENT HAVE MORE ADVANCED DEGREES CLASS AND 36.9 PERCENT LOWER-MIDOLE CLASS) BACHELORS 48.0% MASTERSAMBA 32 PHD 105% I OTHER 4 MIDDLE CLASS 71% LOWER CLASs 22% I UPPERCLASS 60% ASSOCIATES 1 By Birth Order By Country of Origin 1ST 42.5% USA 2S% 2ND 28.1 OTHER 67% INDIA 1N 3RD 149% UK 1.7% 4TH6 4TH6 CANADA 13 STH4.5% GERMANY 1.0 STH+ 33% IRAN, ITALY, CHINA, NORWAY, TAIWAN <1.0% GENDER: EMPLOYMENT STATUS PRIOR TO START-UP: 59% FULL TIME 80% 23% PART TIME 12% 19% NOT EMPLOYED 8% FORMS OF ENTRY OF START-UP 85% INDEPENDENT 89% 10% FRANCHISE 4% 4% SPONSORED BUSINESS 4% 1% PURCHASE OBSTACLES: BIGGEST OBSTACLES FACING ENTREPRENEURS THE NUMBER ONE CONCERN FACING STARTUP COMPANIES IS ACCESS TO CAPITAL CAPITAL-RELATED OBSTACLES: 37% INITIATING CONTACT WITH POTENTIAL INVESTORS ALLOCATING AND FINDING THE RIGHT INVESTORS MEASURING THE SERIOUSNESS OF THE INVESTORS CONNECTING WITH INVESTORS TOO COSTLY OTHER OBSTACLES TOP PROBLEMS FACING SMALL BUSINESSES ACCORDING TO A RECENT U.S. SMALL BUSINESS ADMINISTRATION SURVEY: 1 COST OF HEALTH INSURANCE $ 2 COST OF FUEL/GAS 3 FEDERAL TAXES ON BUSINESS INCOME 4 PROPERTY TAXES 5: TAX COMPLEXITY 6 UNREASONABLE GOVERNMENT REGULATIONS 7: STATE TAXES ON BUSINESS INCOME 8 COST OF SUPPLIES/INVENTORIES 9: ELECTRICITY COSTS 10: WORKERS' COMPENSATION COSTS Contact he SOURCES: METRIWW.PAPERS SSAN.COM HTTPWWW.INTREPRENEUR.COM HTTPWWW.GAEBLER.COM HTTPWWW.5BA.GOV WHO ARE THE ENTREPRENEURS? WHERE THEY COME FROM, AND WHAT THEY'RE UP AGAINST: 40 THE AVERAGE AGE OF BUSINESS FOUNDERS YEARS WHEN THEY START THEIR BUSINESS. OLD 52% OF BUSINESS FOUNDERS WERE THE FIRST IN THEIR IMMEDIATE FAMILIES TO DO SO. 70% OF BUSINESS FOUNDERS WERE MARRIED WHEN THEY STARTED THE BUSINESS. 40% 75% OF BUSINESS FOUNDERS HAD NO CHILDREN WHEN THEY STARTED THE BUSINESS HAVE WORKED AS EMPLOYEES AT OTHER COMPANIES FOR MORE THAN SOX YEARS BEFORE LAUNCHING THEIR OWN COMPANIES DEMOGRAPHICS: U.S. ENTREPRENEURS By Family's Class By Education Level 71.5 PERCENT OF RESPONDENTS CAME FROM MIDDLE CLASS BACKGROUNDS (MA PERCENT UPPER MIDDLE 95.1 PERCENT HAVE A BACHELORS DEGREES, AND 47 PERCENT HAVE MORE ADVANCED DEGREES CLASS AND 36.9 PERCENT LOWER-MIDOLE CLASS) BACHELORS 48.0% MASTERSAMBA 32 PHD 105% I OTHER 4 MIDDLE CLASS 71% LOWER CLASs 22% I UPPERCLASS 60% ASSOCIATES 1 By Birth Order By Country of Origin 1ST 42.5% USA 2S% 2ND 28.1 OTHER 67% INDIA 1N 3RD 149% UK 1.7% 4TH6 4TH6 CANADA 13 STH4.5% GERMANY 1.0 STH+ 33% IRAN, ITALY, CHINA, NORWAY, TAIWAN <1.0% GENDER: EMPLOYMENT STATUS PRIOR TO START-UP: 59% FULL TIME 80% 23% PART TIME 12% 19% NOT EMPLOYED 8% FORMS OF ENTRY OF START-UP 85% INDEPENDENT 89% 10% FRANCHISE 4% 4% SPONSORED BUSINESS 4% 1% PURCHASE OBSTACLES: BIGGEST OBSTACLES FACING ENTREPRENEURS THE NUMBER ONE CONCERN FACING STARTUP COMPANIES IS ACCESS TO CAPITAL CAPITAL-RELATED OBSTACLES: 37% INITIATING CONTACT WITH POTENTIAL INVESTORS ALLOCATING AND FINDING THE RIGHT INVESTORS MEASURING THE SERIOUSNESS OF THE INVESTORS CONNECTING WITH INVESTORS TOO COSTLY OTHER OBSTACLES TOP PROBLEMS FACING SMALL BUSINESSES ACCORDING TO A RECENT U.S. SMALL BUSINESS ADMINISTRATION SURVEY: 1 COST OF HEALTH INSURANCE $ 2 COST OF FUEL/GAS 3 FEDERAL TAXES ON BUSINESS INCOME 4 PROPERTY TAXES 5: TAX COMPLEXITY 6 UNREASONABLE GOVERNMENT REGULATIONS 7: STATE TAXES ON BUSINESS INCOME 8 COST OF SUPPLIES/INVENTORIES 9: ELECTRICITY COSTS 10: WORKERS' COMPENSATION COSTS Contact he SOURCES: METRIWW.PAPERS SSAN.COM HTTPWWW.INTREPRENEUR.COM HTTPWWW.GAEBLER.COM HTTPWWW.5BA.GOV WHO ARE THE ENTREPRENEURS? WHERE THEY COME FROM, AND WHAT THEY'RE UP AGAINST: 40 THE AVERAGE AGE OF BUSINESS FOUNDERS YEARS WHEN THEY START THEIR BUSINESS. OLD 52% OF BUSINESS FOUNDERS WERE THE FIRST IN THEIR IMMEDIATE FAMILIES TO DO SO. 70% OF BUSINESS FOUNDERS WERE MARRIED WHEN THEY STARTED THE BUSINESS. 40% 75% OF BUSINESS FOUNDERS HAD NO CHILDREN WHEN THEY STARTED THE BUSINESS HAVE WORKED AS EMPLOYEES AT OTHER COMPANIES FOR MORE THAN SOX YEARS BEFORE LAUNCHING THEIR OWN COMPANIES DEMOGRAPHICS: U.S. ENTREPRENEURS By Family's Class By Education Level 71.5 PERCENT OF RESPONDENTS CAME FROM MIDDLE CLASS BACKGROUNDS (MA PERCENT UPPER MIDDLE 95.1 PERCENT HAVE A BACHELORS DEGREES, AND 47 PERCENT HAVE MORE ADVANCED DEGREES CLASS AND 36.9 PERCENT LOWER-MIDOLE CLASS) BACHELORS 48.0% MASTERSAMBA 32 PHD 105% I OTHER 4 MIDDLE CLASS 71% LOWER CLASs 22% I UPPERCLASS 60% ASSOCIATES 1 By Birth Order By Country of Origin 1ST 42.5% USA 2S% 2ND 28.1 OTHER 67% INDIA 1N 3RD 149% UK 1.7% 4TH6 4TH6 CANADA 13 STH4.5% GERMANY 1.0 STH+ 33% IRAN, ITALY, CHINA, NORWAY, TAIWAN <1.0% GENDER: EMPLOYMENT STATUS PRIOR TO START-UP: 59% FULL TIME 80% 23% PART TIME 12% 19% NOT EMPLOYED 8% FORMS OF ENTRY OF START-UP 85% INDEPENDENT 89% 10% FRANCHISE 4% 4% SPONSORED BUSINESS 4% 1% PURCHASE OBSTACLES: BIGGEST OBSTACLES FACING ENTREPRENEURS THE NUMBER ONE CONCERN FACING STARTUP COMPANIES IS ACCESS TO CAPITAL CAPITAL-RELATED OBSTACLES: 37% INITIATING CONTACT WITH POTENTIAL INVESTORS ALLOCATING AND FINDING THE RIGHT INVESTORS MEASURING THE SERIOUSNESS OF THE INVESTORS CONNECTING WITH INVESTORS TOO COSTLY OTHER OBSTACLES TOP PROBLEMS FACING SMALL BUSINESSES ACCORDING TO A RECENT U.S. SMALL BUSINESS ADMINISTRATION SURVEY: 1 COST OF HEALTH INSURANCE $ 2 COST OF FUEL/GAS 3 FEDERAL TAXES ON BUSINESS INCOME 4 PROPERTY TAXES 5: TAX COMPLEXITY 6 UNREASONABLE GOVERNMENT REGULATIONS 7: STATE TAXES ON BUSINESS INCOME 8 COST OF SUPPLIES/INVENTORIES 9: ELECTRICITY COSTS 10: WORKERS' COMPENSATION COSTS Contact he SOURCES: METRIWW.PAPERS SSAN.COM HTTPWWW.INTREPRENEUR.COM HTTPWWW.GAEBLER.COM HTTPWWW.5BA.GOV