Around 550,000 People Become Entrepreneurs Every Month
The rate of new entrepreneurs in the United States has been steadily growing for two years, according to a new report.
The Kauffman startup index found that the rate of new entrepreneurs -- or percent of non-business owning adults that started a business in a given month -- has gone up from 2014, when 280 out of 100,000 adults became business owners, to 2016 when 330 out of 100,000 did. That translates to around 550,000 new entrepreneurs across the national, state and metro level every month.
Two years ago, the index saw its lowest rate of new entrepreneurs in 20 years. Today, the index is at its fifth highest level.
Other interesting tidbits from the report:
- Women in particular have seen an increase, as the rate of new entrepreneurs jumped from 220 out of 100,000 adults to 260 from 2014 to 2015.
- The rate of Latino entrepreneurs increased dramatically in the past 20 years. In 1996, 10 percent of new entrepreneurs were Latino. That rate jumped to 20.8 percent in 2015.
There are now more older entrepreneurs than before. The rate of new entrepreneurs ages 55 to 64 increased from 14.8 percent in 1996 to 24.3 percent in 2015.
With entrepreneurship on the rise, it may be time for you to get on board. Let these articles be your guide:50 Habits That Prove You Were Born to Be an Entrepreneur