According to a recent University of Phoenix survey, more than half (51 percent) of working adults in the U.S. either currently own or want to own their own business. Of those working Americans who do not currently own their own business, 41 percent hope to do so in the future.
Age makes a significant difference as 55 percent of workers in their 20s who don’t currently own a business hope to do so in the future, followed by 48 percent of workers in their 30s and 36 percent in their 40s. Second careering may be leading more workers to also consider entrepreneurship later in their careers. In fact, 39 percent of workers in their 50s and 26 percent of workers age 60 or older who do not own a business, want to do so in the future.
Regionally, workers in Los Angeles and Atlanta are more inclined to be entrepreneurs. Sixty-seven percent of working adults in Los Angeles and 65 percent in Atlanta currently own or want to own a business, significantly higher than the national average (51 percent). The percentages of workers in other select metropolitan areas who either own or want to own their own businesses are as follows: New York City (54 percent), Chicago (54 percent), Dallas-Ft. Worth (51 percent) and San Francisco (48 percent).
The online survey of more than 1,600 U.S. employed adults was conducted by Harris Interactive on behalf of University of Phoenix in April 2013.
“Being a business owner isn’t easy, but can be very rewarding for those who have done their homework and are educated about the different facets of running a business,” said Dr. Sam Sanders, college chair for University of Phoenix School of Business and a former human resources executive with more than 20 years of experience. “One of the biggest challenges is recognizing what you do not know. Entrepreneurs may have a solid understanding of a niche or industry, but may not have a lot of experience in other aspects of running a business, including strategic planning, marketing, finance, people management, procurement and research and design. Business degree programs and continuing education, along with a variety of free business resources and networking opportunities, can help entrepreneurs fill these gaps and strengthen their business acumen.”