While it’s important not to compare yourself to other businesses, it can be helpful to check out some stats every now and then to gauge your progress. From operations to office space, below are a few insights that shed light on small businesses and the people who started them.
- 50% of all US businesses are based and operated from out of a home (Source: Sba.gov)
Certainly, saves time on the morning commute - 19% of small business owners exceed 60 hours of work each week (Source: Fundera)
I sure hope that they’re taking the recommended breaks every few hours
- 1/3 of all small businesses are funded with less than $5,000 in capital (Source: Sba.gov)
Some even start with less than $1,000! - 62% of billionaires are self-made (Source: Wealth-X)
This isn’t necessarily a small business stat, but it certainly is encouragement! - More than half of all small businesses operate without employees (Source: Freshbooks)
LinkedIn title reads as: CEO, Director of Marketing, Accountant, PR Director, Staff Cook - Just slightly more than a quarter (precisely 26%) of all entrepreneurs use the internet to research advice that’s related to business (TSheets)
Hey, it’s you! Glad you joined us! - Less than 10% (9% to be exact) of entrepreneurs earned a Bachelor’s Degree in business (TSheet)
Why get a Bachelor’s Degree when you can just come to us for all of your business-related advice!
So, there have it, a few insights about the world of entrepreneurship that prove building a business can operate with one employee or 100, require a commute to work or commute upstairs, and even produce billionaire status by beginning with just a small seed of investment. With the average of business owners surveyed rating their happiness at an 8 on a scale up to 10 (source: Guidant Financial), it looks like some of those long days and nights are certainly paying off.
