In the true entrepreneurial spirit, 83.1% of owners built their businesses from scratch. A significantly smaller percentage (11.3%) bought their businesses, while 7.2% inherited them or received them as gifts. New research has revealed that entrepreneurs are actually happier than those working in white-collar jobs. A study by researchers at ETH Zurich found that entrepreneurs show more positive and less negative emotions on social media.
The Global Entrepreneurship Index (GHG) is a numerical presentation of the climate that a country creates for the development of small businesses. For every 100 women of working age, there are about 8 small businesses owned by women, as shown by statistics on female entrepreneurship. By focusing on this important business challenge, entrepreneurs can have a significant impact on their own success rate. Canada also has effortless start-up processes for potential entrepreneurs: only two days without delays, while Australia does so in three.
This index is based on factors such as social and economic infrastructures that nurture environments to cultivate entrepreneurship. It is necessary to understand that the rate of business failure has never been lower, since only 20% of companies close after a year. While it's a good corrective to know that entrepreneurship stress probably won't necessarily hurt your health and happiness, it's also important to note that these findings aren't just a good reason for founders to gloat. So to understand what percentage of entrepreneurs are successful, let's take a step back to consider what success means for different types of businesses and look at the most recent data available.
It gives entrepreneurs the autonomy to conceptualize, launch and lead their next big company. This is because many entrepreneurs do it out of necessity rather than doing it on their own after telling the boss to take this job and stick it in. On the contrary, the percentage of entrepreneurs who bought their business is significantly lower, with 11.3%, while 4.4% received their business as a gift or through transfer of ownership. The business success rate is higher for entrepreneurs who had previously worked in jobs in their industry.
A quarter of entrepreneurs cannot find qualified staff, while 39% say they have jobs they cannot fill. In the same vein, 43% of surveyed employees found in the statistics on entrepreneurs say that career change is a great motivator to move away from traditional employment.