Top 5 Reasons People Start a Business

Seattle District Office  -  Nov. 20, 2019

u s small business administration
November 18-24 Global Entrepreneurship Week Start, Grow, Expand and Recover Your Business with the SBA SBA

What Drives People to Start a Business?

During one week each November, Global Entrepreneurship Week inspires people everywhere through local, national and global activities designed to help them explore their potential as self-starters and innovators. 

If you’ve been thinking about turning your side hustle into a full-time, self-sustaining startup, looking to other small businesses for inspiration is a great place to start.

In a recent 1000-business survey conducted by SCORE, an interesting data point revealed that most small businesses are fueled by passion and experience, not unemployment or underemployment at a previous job.

In fact, less than 15% of people started their business because of their current or previous employment situation.  

The following are the top five reasons small business owners said they went into business:

  1. Passion for the product/service I provide (40.2%)
  2. Wanted the flexibility of self-employment (16%)
  3. Saw a gap in the marketplace that I wanted to fill (15.1%)
  4. Unemployment or underemployment at my previous job (14.6%)
  5. Wanted to be my own boss (13.9%)

There's more to the story, including who entrepreneurs leaned on for support as they were starting and which marketing tactics have been the most successful. Read the entire article by SCORE:

Read on

    event spotlight

    Seattle - Boots to Business Reboot

    Open to all veterans, military spouses and national guard, this in-person course is offered off installation for aspiring business owners. This free, one-day class provides participants with an overview of business fundamentals and introduces techniques for evaluating the feasibility of business concepts. 

    Monday, Dec. 2 | 8 a.m. to 5 p.m.


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