{"id":3425,"date":"2023-06-20T11:17:00","date_gmt":"2023-06-20T11:17:00","guid":{"rendered":"https:\/\/plaky.com\/learn\/?p=3425"},"modified":"2025-03-20T00:00:00","modified_gmt":"2025-03-20T00:00:00","slug":"entrepreneur-statistics","status":"publish","type":"post","link":"https:\/\/plaky.com\/learn\/how-to-start-business\/entrepreneur-statistics\/","title":{"rendered":"Entrepreneur Statistics and Trends You Need to Know in 2025"},"content":{"rendered":"\n<p class=\"translation-block\">The fact that 65% of entrepreneurs say their businesses are doing well today speaks volumes about how prosperous the entrepreneurship path can be.<\/p>\n\n\n\n<p class=\"translation-block\">When asked about their motivations for starting a business, 28% of entrepreneurs say they want to be the ones calling the shots. However, a slightly smaller percentage of entrepreneurs \u2014 23% \u2014 want to embark on this journey out of pure disappointment in corporate America.<\/p>\n\n\n\n<p class=\"translation-block\">And both men and women are eager to be their own boss. Sadly, research shows men still dominate entrepreneurship, as only 26% of small business owners are women.<\/p>\n\n\n\n<p class=\"translation-block\">Eager to learn more? In this article, we\u2019ll guide you through many other interesting entrepreneur statistics that further explain the state of entrepreneurship in the US and other parts of the globe.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"600\" src=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Entrepreneur-statistics-cover-1.png\" alt=\"Entrepreneur statistics - cover\" class=\"wp-image-8441\" srcset=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Entrepreneur-statistics-cover-1.png 1200w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Entrepreneur-statistics-cover-1-300x150.png 300w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Entrepreneur-statistics-cover-1-1024x512.png 1024w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Entrepreneur-statistics-cover-1-768x384.png 768w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Entrepreneur-statistics-cover-1-18x9.png 18w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n<\/div>\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 id=\"entrepreneur-statistics-10-most-important-stats\" class=\"wp-block-heading translation-block\">Entrepreneur statistics: 10 most important stats<\/h2>\n\n\n\n<p class=\"translation-block\">Before we delve deeper, take a look at the top 10 most fascinating \u2014 and somewhat shocking \u2014 statistics about entrepreneurs we could find:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">47% of small business owners are Gen X.<\/li>\n\n\n\n<li class=\"translation-block\">77.9% of US entrepreneurs are white.<\/li>\n\n\n\n<li class=\"translation-block\">43% of small business owners are Republicans.<\/li>\n\n\n\n<li class=\"translation-block\">A great majority of US entrepreneurs (86%) have a university degree.<\/li>\n\n\n\n<li class=\"translation-block\">65.8% of entrepreneurs say their top motivation to start a business was the fact that they wanted to make a difference in the world.<\/li>\n\n\n\n<li class=\"translation-block\">A whopping 72% of entrepreneurs say they\u2019re somewhat or very happy with their business ventures.<\/li>\n\n\n\n<li class=\"translation-block\">45.8% of entrepreneurs want to work on their stress levels and reduce or eliminate stress and other mental health concerns.&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">North Dakota is the best state to start a business in the US.&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">77% of entrepreneurs expect their businesses to survive in today\u2019s economy.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">\n<div class=\"banner banner-dark plaky-gradient-default\">\n    <div class=\"banner-text lg:pr-[6rem]\">\n        <h2 class=\"translation-block text-2xl !mb-4\">The best PM software for small businesses<\/h2>\n        <p class=\"translation-block !text-sm\">Your small business needs just one tool for all your business operations \u2014 Plaky by CAKE.com.<\/p>\n\n        <div class=\"banner-buttons d-flex space-x-4 translation-block\">\n            <a class=\"rounded-md px-6 py-2 bg-white\" href=\"https:\/\/app.plaky.com\/signup\" target=\"_blank\">Sign up<\/a>\n\n                            <a class=\"button-2\" href=\"https:\/\/plaky.com\" target=\"_blank\">Learn more<\/a>\n                    <\/div>\n    <\/div>\n\n    <div class=\"banner-image banner-image-right \">\n        <picture>\n            <source srcset=\"https:\/\/plaky.com\/learn\/wp-content\/themes\/cake-learn\/src\/images\/plaky\/banners\/default@2x.png 2x\" alt=\"Illustration\"  media=\"(min-width: 1022px)\" \/>\n            <img decoding=\"async\" src=\"https:\/\/plaky.com\/learn\/wp-content\/themes\/cake-learn\/src\/images\/plaky\/banners\/default.png\"  alt=\"Illustration\" \/>\n        <\/picture>\n    <\/div>\n<\/div>\n    <\/p>\n\n\n\n<h2 id=\"general-us-entrepreneurship-statistics\" class=\"wp-block-heading translation-block\">General US entrepreneurship statistics&nbsp;<\/h2>\n\n\n\n<p class=\"translation-block\">Entrepreneurship is a huge deal in the US, with more and more people choosing to start a business rather than continue to work for someone else. So, how many entrepreneurs are there in the US?<\/p>\n\n\n\n<p class=\"translation-block\">According to <a href=\"https:\/\/advocacy.sba.gov\/2024\/07\/23\/frequently-asked-questions-about-small-business-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\">SBA\u2019s data from 2024<\/a>, there are around <strong>34.8 million small businesses in the United States<\/strong>, and they make up a whopping 99.9% of all businesses in the US.<\/p>\n\n\n\n<p class=\"translation-block\">For further insight, we turned to the <a href=\"https:\/\/www.gemconsortium.org\/reports\/latest-global-report\" target=\"_blank\" rel=\"noreferrer noopener\"><em>2024\/2025 Global Entrepreneurship Monitor Report<\/em><\/a>. According to the data found there, there are 2 key indicators to consider when trying to learn how many people are actually entrepreneurs:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\"><strong>Total early-stage Entrepreneurial Activity (TEA)<\/strong> \u2014 the proportion of the adult population (aged 18 to 64) who are owners or managers of a new business and&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\"><strong>Established Business Ownership (EBO)<\/strong> \u2014 the percentage of adults in the same age group that currently own or manage an established business.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">This report\u2019s latest data for the US shows:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">The TEA for the United States is 19.3%, which is high, as this means that <strong>almost 1 in 5 adults is starting or running a new business<\/strong>.<\/li>\n\n\n\n<li class=\"translation-block\">The EBO rate in the US is just under 7%. This rate has declined for the second year in a row. In comparison, in 2023, EBO was 9.2%.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"the-public-attitude-toward-entrepreneurship-in-the-us\" class=\"wp-block-heading translation-block\">The public attitude toward entrepreneurship in the US<\/h3>\n\n\n\n<p class=\"translation-block\">The <em>2024\/2025 GEM Report<\/em> investigated whether starting a business was viewed as negative or positive in a particular country.<\/p>\n\n\n\n<p class=\"translation-block\">To learn more about the public perception of entrepreneurship in the US, the researchers behind the report asked adults aged 18 to 64 to consider the following statements:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Attitudes and perceptions<\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>% of adults that somewhat or strongly agree<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">I know someone who has started a new business in the past 2 years<\/td><td class=\"has-text-align-left\" data-align=\"left\">53<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">There are good opportunities to start a business in my area<\/td><td class=\"has-text-align-left\" data-align=\"left\">59.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">It\u2019s easy to start a business in my country<\/td><td class=\"has-text-align-left\" data-align=\"left\">57.2<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">I have the knowledge, skills, and experience to start my own business<\/td><td class=\"has-text-align-left\" data-align=\"left\">55.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">I have fear of failure&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">44.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">I have entrepreneurial intentions<\/td><td class=\"has-text-align-left\" data-align=\"left\">13.4<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<h3 id=\"most-entrepreneurs-decided-to-start-a-new-independent-business\" class=\"wp-block-heading translation-block\">Most entrepreneurs decided to start a new independent business<\/h3>\n\n\n\n<p class=\"translation-block\">As stated in Guidant Financial\u2019s <em>2024 Small Business Trends<\/em> report, in the previous year, small business owners in the US opted to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Start a new franchise \u2014 32% of entrepreneurs,<\/li>\n\n\n\n<li class=\"translation-block\">Buy an independent business \u2014 31%,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Start new independent businesses \u2014 27%, and<\/li>\n\n\n\n<li class=\"translation-block\">Buy an existing franchise \u2014 only 10% of respondents.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"the-retail-industry-is-still-the-most-popular-among-us-entrepreneurs\" class=\"wp-block-heading translation-block\">The retail industry is still the most popular among US entrepreneurs<\/h3>\n\n\n\n<p class=\"translation-block\">Market changes dictate which small business industries will be the most popular among entrepreneurs \u2014 and in 2024, there were some major shifts at play.<\/p>\n\n\n\n<p class=\"translation-block\">The top 5 industries in Guidant Financial\u2019s <em>2023 Small Business Trends<\/em> report were:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Retail \u2014 18%,<\/li>\n\n\n\n<li class=\"translation-block\">Food and restaurants \u2014 12%,<\/li>\n\n\n\n<li class=\"translation-block\">Health, beauty, and fitness \u2014 10%,<\/li>\n\n\n\n<li class=\"translation-block\">Construction and contracting \u2014 8%, and<\/li>\n\n\n\n<li class=\"translation-block\">Residential and commercial services\/Business services \u2014 7%.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">But consumers\u2019 needs and wants have changed, so, in 2024, Guidant Financial\u2019s top 5 list looks like this:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Retail \u2014 16%,<\/li>\n\n\n\n<li class=\"translation-block\">Food and restaurants \u2014 13%,<\/li>\n\n\n\n<li class=\"translation-block\">Health, beauty, and fitness \u2014 12%<\/li>\n\n\n\n<li class=\"translation-block\">Residential services \u2014 9%, and<\/li>\n\n\n\n<li class=\"translation-block\">Construction and contracting \u2014 8%.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"the-cost-of-starting-a-business-in-the-us\" class=\"wp-block-heading translation-block\">The cost of starting a business in the US<\/h3>\n\n\n\n<p class=\"translation-block\">But how much does starting a business actually cost, you may ask?<\/p>\n\n\n\n<p class=\"translation-block\">As stated in Guidant Financial\u2019s <em>2024 Small Business Trends<\/em> report:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">13% paid over $1MM.<\/li>\n\n\n\n<li class=\"translation-block\">16%, however, had to set aside anywhere from $500K to $1MM for their startups.&nbsp;&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">27% of the surveyed small business owners needed to invest between $250K and $500K.&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">15% of respondents needed $175K\u2013$250K to establish their business.<\/li>\n\n\n\n<li class=\"translation-block\">27% of the respondents had to pay $50K\u2013$175K to launch their business.<\/li>\n\n\n\n<li class=\"translation-block\">4% of entrepreneurs managed to establish a business for less than $50K.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-group pro-tip\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"translation-block\">\ud83d\udca1<strong> Plaky Pro Tip<\/strong><\/p>\n\n\n\n<p class=\"translation-block\">Looking to scale your business without making all the basic rookie mistakes? Learn how to do it successfully in the guide below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\"><a href=\"https:\/\/plaky.com\/blog\/how-to-scale-a-business\/\" target=\"_blank\" rel=\"noreferrer noopener\">How to (Painlessly) Scale a Business: A 3-Step Success Guide<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 id=\"how-much-do-us-entrepreneurs-earn\" class=\"wp-block-heading translation-block\">How much do US entrepreneurs earn?<\/h3>\n\n\n\n<p class=\"translation-block\">According to Indeed.com\u2019s entrepreneur salary statistics:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\"><strong>The average base salary for a US entrepreneur at the time of writing is $95,837 per year. <\/strong>However, keep in mind this data is based on a small number of salaries reported through the website.&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\"><strong>Entrepreneurs earn the highest salary in Austin, Texas<\/strong> \u2014 $197,715 per year \u2014 which is 107% above the reported national average.<\/li>\n\n\n\n<li class=\"translation-block\">In comparison, <strong>entrepreneurs in Fort Worth, Texas earn only $50,800 per year<\/strong>. That is 47% below the reported national average.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 id=\"the-profitability-of-small-businesses-has-decreased\" class=\"wp-block-heading translation-block\">The profitability of small businesses has decreased&nbsp;<\/h3>\n\n\n\n<p class=\"translation-block\">According to the latest data provided in Guidant Financial\u2019s <em>2024 Small Business Trends<\/em> report, <strong>65% of the surveyed business owners said their businesses were currently profitable<\/strong>, indicating that despite the economic downturn, they\u2019ve found a way to stay afloat.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">Taking into account Guidant Financial\u2019s <em>2023 Small Business Trends<\/em> report, <strong>the profitability of small businesses has slightly decreased in comparison to the previous year, when it was 66%.&nbsp;<\/strong><\/p>\n\n\n\n<h3 id=\"what-are-the-best-and-worst-states-to-start-a-business-in-the-us\" class=\"wp-block-heading translation-block\">What are the best and worst states to start a business in the US?<\/h3>\n\n\n\n<p class=\"translation-block\">With 50 states to choose from, expect that starting a business in each one could be difficult and nerve-racking.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">Luckily, Forbes Advisor recently published its latest ranking of the <a href=\"https:\/\/www.forbes.com\/advisor\/business\/best-states-to-start-a-business\/\" target=\"_blank\" rel=\"noreferrer noopener\">best states to start a business<\/a>. When comparing the states, Forbes relied on 18 different metrics across 5 categories to determine the best and the worst states for starting a business:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Business costs,<\/li>\n\n\n\n<li class=\"translation-block\">Business climate,<\/li>\n\n\n\n<li class=\"translation-block\">Financial accessibility,<\/li>\n\n\n\n<li class=\"translation-block\">Economy, and<\/li>\n\n\n\n<li class=\"translation-block\">Workforce.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">Currently, the top 10 states ideal for starting a business are:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Rank<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>State<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Score out of 100<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">1<\/td><td class=\"has-text-align-left\" data-align=\"left\">North Dakota<\/td><td class=\"has-text-align-left\" data-align=\"left\">100<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">2<\/td><td class=\"has-text-align-left\" data-align=\"left\">Indiana<\/td><td class=\"has-text-align-left\" data-align=\"left\">98<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">3<\/td><td class=\"has-text-align-left\" data-align=\"left\">Arkansas<\/td><td class=\"has-text-align-left\" data-align=\"left\">93<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">4<\/td><td class=\"has-text-align-left\" data-align=\"left\">South Dakota<\/td><td class=\"has-text-align-left\" data-align=\"left\">85<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">5<\/td><td class=\"has-text-align-left\" data-align=\"left\">North Carolina<\/td><td class=\"has-text-align-left\" data-align=\"left\">84<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">6<\/td><td class=\"has-text-align-left\" data-align=\"left\">Ohio<\/td><td class=\"has-text-align-left\" data-align=\"left\">81<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">7<\/td><td class=\"has-text-align-left\" data-align=\"left\">Pennsylvania<\/td><td class=\"has-text-align-left\" data-align=\"left\">80<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">8<\/td><td class=\"has-text-align-left\" data-align=\"left\">Alabama<\/td><td class=\"has-text-align-left\" data-align=\"left\">75<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">9<\/td><td class=\"has-text-align-left\" data-align=\"left\">Utah<\/td><td class=\"has-text-align-left\" data-align=\"left\">70<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">10<\/td><td class=\"has-text-align-left\" data-align=\"left\">South Carolina<\/td><td class=\"has-text-align-left\" data-align=\"left\">69<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: Forbes Advisor \u2014 The Best States to Start a Business<\/p>\n\n\n\n<p class=\"translation-block\">According to the same research, the 10 worst states for starting a business are:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Rank<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>State<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Score out of 100<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">41<\/td><td class=\"has-text-align-left\" data-align=\"left\">Maryland<\/td><td class=\"has-text-align-left\" data-align=\"left\">25<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">42<\/td><td class=\"has-text-align-left\" data-align=\"left\">Alaska<\/td><td class=\"has-text-align-left\" data-align=\"left\">23<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">43<\/td><td class=\"has-text-align-left\" data-align=\"left\">Minnesota<\/td><td class=\"has-text-align-left\" data-align=\"left\">21<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">44<\/td><td class=\"has-text-align-left\" data-align=\"left\">Oregon<\/td><td class=\"has-text-align-left\" data-align=\"left\">20<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">45<\/td><td class=\"has-text-align-left\" data-align=\"left\">Maine<\/td><td class=\"has-text-align-left\" data-align=\"left\">17<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">46<\/td><td class=\"has-text-align-left\" data-align=\"left\">Florida<\/td><td class=\"has-text-align-left\" data-align=\"left\">15<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">47<\/td><td class=\"has-text-align-left\" data-align=\"left\">New Mexico<\/td><td class=\"has-text-align-left\" data-align=\"left\">12<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">48<\/td><td class=\"has-text-align-left\" data-align=\"left\">Washington<\/td><td class=\"has-text-align-left\" data-align=\"left\">5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">49<\/td><td class=\"has-text-align-left\" data-align=\"left\">New York<\/td><td class=\"has-text-align-left\" data-align=\"left\">1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">50<\/td><td class=\"has-text-align-left\" data-align=\"left\">Vermont<\/td><td class=\"has-text-align-left\" data-align=\"left\">0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 id=\"vermont-is-a-us-state-that-creates-the-most-opportunities-for-their-residents\" class=\"wp-block-heading translation-block\">Vermont is a US state that creates the most opportunities for their residents<\/h3>\n\n\n\n<p class=\"translation-block\">Essentially, opportunity rankings indicate which states embody the US \u201cland of opportunity\u201d narrative. These rankings show us which states help their citizens harness their potential to accomplish their goals and rank the highest in terms of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Equality,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Economic opportunity, and&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Affordability.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">Per the U.S. News\u2019 Best States opportunity rankings, the top 10 US states according to the level of opportunity they provide are:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Rank<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>State<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">1<\/td><td class=\"has-text-align-left\" data-align=\"left\">Vermont<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">2<\/td><td class=\"has-text-align-left\" data-align=\"left\">Maine<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">3<\/td><td class=\"has-text-align-left\" data-align=\"left\">Iowa<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">4<\/td><td class=\"has-text-align-left\" data-align=\"left\">Wyoming<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">5<\/td><td class=\"has-text-align-left\" data-align=\"left\">Wisconsin<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">6<\/td><td class=\"has-text-align-left\" data-align=\"left\">North Dakota<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">7<\/td><td class=\"has-text-align-left\" data-align=\"left\">Kansas<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">8<\/td><td class=\"has-text-align-left\" data-align=\"left\">Montana<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">9<\/td><td class=\"has-text-align-left\" data-align=\"left\">Indiana<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">10<\/td><td class=\"has-text-align-left\" data-align=\"left\">New Hampshire<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 id=\"florida-is-a-us-state-with-the-best-economy\" class=\"wp-block-heading translation-block\">Florida is a US state with the best economy<\/h3>\n\n\n\n<p class=\"translation-block\">Taking into account the overall business environment, labor market, and economic growth, the U.S. News has also provided a top 10 list of states with the best economic conditions:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Rank<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>State<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">1<\/td><td class=\"has-text-align-left\" data-align=\"left\">Florida<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">2<\/td><td class=\"has-text-align-left\" data-align=\"left\">Idaho<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">3<\/td><td class=\"has-text-align-left\" data-align=\"left\">Utah<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">4<\/td><td class=\"has-text-align-left\" data-align=\"left\">Colorado<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">5<\/td><td class=\"has-text-align-left\" data-align=\"left\">Nevada<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">6<\/td><td class=\"has-text-align-left\" data-align=\"left\">Texas<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">7<\/td><td class=\"has-text-align-left\" data-align=\"left\">New Hampshire<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">8<\/td><td class=\"has-text-align-left\" data-align=\"left\">Massachusetts<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">9<\/td><td class=\"has-text-align-left\" data-align=\"left\">Montana<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">10<\/td><td class=\"has-text-align-left\" data-align=\"left\">Arizona<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 id=\"how-are-entrepreneurs-handling-todays-economy\" class=\"wp-block-heading translation-block\">How are entrepreneurs handling today\u2019s economy?<\/h3>\n\n\n\n<p class=\"translation-block\">According to Guidant Financial\u2019s <em>2024 Small Business Trends<\/em> report:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">47% of entrepreneurs said they were somewhat unconfident or very unconfident in their small businesses in today\u2019s economy.<\/li>\n\n\n\n<li class=\"translation-block\">Only 33% of the surveyed business owners were somewhat or very confident in their small businesses amidst these economic conditions.<\/li>\n\n\n\n<li class=\"translation-block\">A neutral stance was held by 20%.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">Aside from that, inflation has been felt across the board and has affected not only the profitability but also the expenses. Respondents in Guidant Financial\u2019s report said the main ways the current economy had affected their businesses were:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Increased prices \u2014 29%,<\/li>\n\n\n\n<li class=\"translation-block\">Revenue loss \u2014 17%,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Increased wages \u2014 11%, and<\/li>\n\n\n\n<li class=\"translation-block\">Reduced budget \u2014 6%.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">Ultimately, when asked if they expected their businesses to survive in today\u2019s economy:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">77% answered positively,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">18% were unsure about it, and<\/li>\n\n\n\n<li class=\"translation-block\">5% gave a negative answer.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 id=\"us-entrepreneurs-plans-for-the-upcoming-year\" class=\"wp-block-heading translation-block\">US entrepreneurs\u2019 plans for the upcoming year<\/h3>\n\n\n\n<p class=\"translation-block\">Guidant Financial\u2019s <em>2024 Small Business Trends<\/em> report shows the following year is going to be a big one for most entrepreneurs, given that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">24% plan to hire more people,<\/li>\n\n\n\n<li class=\"translation-block\">18% want to put more funds into digital marketing,<\/li>\n\n\n\n<li class=\"translation-block\">17% plan to expand or remodel their business, and<\/li>\n\n\n\n<li class=\"translation-block\">10% are eager to invest in traditional marketing.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">According to the <a href=\"https:\/\/www.uschamber.com\/small-business\/small-business-weekly-forecast\" target=\"_blank\" rel=\"noreferrer noopener\">latest data from the US Chamber of Commerce<\/a>, almost half of small business owners are optimistic about the US economy in the next year, whereas 32% of them believe that the economy will worsen. In line with this:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">46% of the respondents plan on expanding their workforce.<\/li>\n\n\n\n<li class=\"translation-block\">8% are looking to decrease the number of employees.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">As the US president has announced a new tariff policy \u2014 which could amount to the largest tax increase since 1993 \u2014 there are bound to be some repercussions. The above-mentioned report from the US Chamber of Commerce shows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Only 11% of small businesses believe <a href=\"https:\/\/www.dlapiper.com\/en\/insights\/publications\/2025\/02\/across-the-board-25-percent-tariffs-on-steel-and-aluminum\" target=\"_blank\" rel=\"noreferrer noopener\">across-the-board tariffs<\/a> will positively impact their business, whereas 54% of them think these tariffs will have a negative effect.&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Although more than half of the small business owners (54%) aren\u2019t planning on taking any actions in response to tariff policies, almost a third of them (30%) are planning on raising prices or have already done that.&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">More than half of small business owners (56%) believe tax policies that are being considered by Congress and the White House will help their business, whereas 13% of them expect they will have a negative impact.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"4500\" src=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/US-entrepreneurship-statistics-1.png\" alt=\"US entrepreneurship statistics (1)\" class=\"wp-image-8704\" srcset=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/US-entrepreneurship-statistics-1.png 1200w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/US-entrepreneurship-statistics-1-80x300.png 80w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/US-entrepreneurship-statistics-1-273x1024.png 273w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/US-entrepreneurship-statistics-1-768x2880.png 768w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/US-entrepreneurship-statistics-1-546x2048.png 546w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/US-entrepreneurship-statistics-1-3x12.png 3w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n<\/div>\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 id=\"key-demographics-statistics-on-entrepreneurship-in-the-us\" class=\"wp-block-heading translation-block\">Key demographics statistics on entrepreneurship in the US<\/h2>\n\n\n\n<p class=\"translation-block\">Do older generations still reign supreme in entrepreneurship or are younger generations slowly but surely catching up with them? What about men and women \u2014 is the gender gap still as large and discouraging as before?<\/p>\n\n\n\n<p class=\"translation-block\">Well, <strong>research shows a large percentage of entrepreneurs belong to Generation X<\/strong>, which includes people born anywhere from 1965 to 1981. To be precise, the <em>2024 Small Business Trends<\/em> report by Guidant Financial shows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">47% of surveyed small business owners were Gen X.&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Baby Boomers \u2014 those born between 1946 and 1964 \u2014 accounted for 37% of them.<\/li>\n\n\n\n<li class=\"translation-block\">Only 16% of the surveyed small business owners in 2024 were Millennials (born between 1981 and 1996).<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">As far as gender goes, it seems <strong>men are still more likely to dabble in entrepreneurship.<\/strong> Guidant Financial\u2019s <em>2024 Small Business Trends<\/em> report showed:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">74% of the surveyed small business owners were male.&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">26% were female.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"the-majority-of-entrepreneurs-in-the-us-are-white\" class=\"wp-block-heading translation-block\">The majority of entrepreneurs in the US are white<\/h3>\n\n\n\n<p class=\"translation-block\">According to the <a href=\"https:\/\/advocacy.sba.gov\/wp-content\/uploads\/2024\/11\/United_States.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><em>2024 Small Business Profile<\/em><\/a><em> <\/em>report, a great majority of entrepreneurs were white (77.9%).&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">When it comes to surveyed business owners of color, which make up 22.1% of entrepreneurs in the US:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">36% of them were Black or African-American,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">31% were of Hispanic, Latino, or Spanish origin,<\/li>\n\n\n\n<li class=\"translation-block\">21% were Asian or Asian-American,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">6% were Middle Eastern or North African,<\/li>\n\n\n\n<li class=\"translation-block\">4% were Native Hawaiian or Pacific Islander, and<\/li>\n\n\n\n<li class=\"translation-block\">2% were Indigenous American.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 id=\"a-great-deal-of-entrepreneurs-are-well-educated\" class=\"wp-block-heading translation-block\">A great deal of entrepreneurs are well educated&nbsp;<\/h3>\n\n\n\n<p class=\"translation-block\">Guidant Financial\u2019s<em> 2024 Small Business Trends<\/em> report showed that out of all the surveyed entrepreneurs:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">44% had a Bachelor\u2019s degree,<\/li>\n\n\n\n<li class=\"translation-block\">27% had a Master\u2019s degree,<\/li>\n\n\n\n<li class=\"translation-block\">15% had a High School diploma,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">11% had an associate degree, and<\/li>\n\n\n\n<li class=\"translation-block\">4% had a doctorate.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"the-political-affiliation-of-us-entrepreneurs\" class=\"wp-block-heading translation-block\">The political affiliation of US entrepreneurs&nbsp;<\/h3>\n\n\n\n<p class=\"translation-block\">The previously mentioned report by Guidant Financial showed:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">43% of the surveyed small business owners belonged to the Republican party.<\/li>\n\n\n\n<li class=\"translation-block\">33% maintained they were unaffiliated with any of the US political parties.<\/li>\n\n\n\n<li class=\"translation-block\">19% of the surveyed entrepreneurs said they were Democrats.<\/li>\n\n\n\n<li class=\"translation-block\">Libertarians were a clear minority in this report, as only 5% of the respondents said they were affiliated with them.<\/li>\n<\/ul>\n\n\n\n<h2 id=\"statistics-on-entrepreneur-motivations-and-challenges\" class=\"wp-block-heading translation-block\">Statistics on entrepreneur motivations and challenges<\/h2>\n\n\n\n<p class=\"translation-block\">According to Guidant Financial\u2019s <em>2024 Small Business Trends<\/em> report, small business owners usually decide to start their own ventures because they:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Want to be their own boss \u2014 28%,<\/li>\n\n\n\n<li class=\"translation-block\">Have lost faith in corporate America \u2014 23%,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Want to pursue their own passions \u2014 14%,<\/li>\n\n\n\n<li class=\"translation-block\">Stumbled upon the opportunity to do so \u2014&nbsp;11%, and<\/li>\n\n\n\n<li class=\"translation-block\">Were not ready to retire \u2014 9%.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"the-main-motivations-of-us-entrepreneurs\" class=\"wp-block-heading translation-block\">The main motivations of US entrepreneurs<\/h3>\n\n\n\n<p class=\"translation-block\">The <em>2024\/2025 GEM Report<\/em> gives us further insight into the motivation of US entrepreneurs \u2014 in particular, of those who fall into the TEA category. When asked to agree with 4 defined motivations behind entrepreneurship, this is how they responded:<\/p>\n\n\n\n<figure class=\"wp-block-table responsive\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Motivation<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>% of TEA that somewhat agree or strongly agree<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Build great wealth or very high income<\/td><td class=\"has-text-align-left\" data-align=\"left\">72.2<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Make a difference in the world<\/td><td class=\"has-text-align-left\" data-align=\"left\">65.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Earn a living because jobs are scarce<\/td><td class=\"has-text-align-left\" data-align=\"left\">67.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Continue a family tradition&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">36.6<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<h3 id=\"challenges-entrepreneurs-face-when-running-their-businesses\" class=\"wp-block-heading translation-block\">Challenges entrepreneurs face when running their businesses<\/h3>\n\n\n\n<p class=\"translation-block\">The participants in Guidant Financial\u2019s <em>2024<\/em> <em>Small Business Trends<\/em> report gave us some insight into the top struggles entrepreneurs face today:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Inflation and price increases \u2014 23%,<\/li>\n\n\n\n<li class=\"translation-block\">Recruiting and keeping employees \u2014 19%,<\/li>\n\n\n\n<li class=\"translation-block\">Lack of cash flow and capital \u2014 16%,<\/li>\n\n\n\n<li class=\"translation-block\">Business promotion (marketing and advertising) \u2014 9%,<\/li>\n\n\n\n<li class=\"translation-block\">Administrative work \u2014 8%, and<\/li>\n\n\n\n<li class=\"translation-block\">Difficulties with supply chain \u2014 7%.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-group pro-tip\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"translation-block\"><strong>\ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n<p class=\"translation-block\">It\u2019s evident entrepreneurs are struggling with recruitment and likely missing out on hiring the ideal candidates. If you want to improve your recruitment process and maximize your chances of hiring only the best candidates, check out this blog post:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\"><a href=\"https:\/\/plaky.com\/blog\/steps-in-recruitment-process\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Recruitment Process in 7 Steps (+ Free Recruitment Template)<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 id=\"the-biggest-hiring-obstacles-for-entrepreneurs\" class=\"wp-block-heading translation-block\">The biggest hiring obstacles for entrepreneurs&nbsp;<\/h3>\n\n\n\n<p class=\"translation-block\">Hiring quality labor doesn\u2019t only come down to offering the right compensation or having an extremely dedicated HR team.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">Guidant Financial\u2019s <em>2024<\/em> <em>Small Business Trends <\/em>report shed some light on several issues small business owners face when trying to fill positions at their companies.<\/p>\n\n\n\n<p class=\"translation-block\">The report showed some of the biggest hiring hurdles for entrepreneurs were:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Lack of candidates with the necessary work experience \u2014 20%,<\/li>\n\n\n\n<li class=\"translation-block\">Lack of interest in their businesses and few job applicants \u2014 19%,<\/li>\n\n\n\n<li class=\"translation-block\">Lack of required soft skills among the candidates \u2014 15%,<\/li>\n\n\n\n<li class=\"translation-block\">Too much competition \u2014 14%,<\/li>\n\n\n\n<li class=\"translation-block\">Difficulty finding candidates with the right technical skills \u2014 13%, and<\/li>\n\n\n\n<li class=\"translation-block\">Concerns about competitive salaries and benefits \u2014 11%.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">The talent gap is also a major headache for small business owners. When it comes to attracting top talent, Guidant Financial\u2019s <em>2024<\/em> <em>Small Business Trends<\/em> report showed the following positions were the most challenging to fill:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Sales \u2014 28%,<\/li>\n\n\n\n<li class=\"translation-block\">Construction and maintenance \u2014 17%,<\/li>\n\n\n\n<li class=\"translation-block\">Food service \u2014 15%,<\/li>\n\n\n\n<li class=\"translation-block\">Management \u2014 12%,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Healthcare and childcare \u2014 7%, and<\/li>\n\n\n\n<li class=\"translation-block\">Business and financial operations \u2014 6%.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"translation-block\">Recruitment can also be a challenge if the whole process is disorganized and leaves candidates with a poor impression of your company. To combat that, you can use Plaky\u2019s recruitment template and ensure both a good talent pipeline and a well-thought-out recruitment process.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"785\" src=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/10\/Recruitment-process-template-in-Plaky-1.png\" alt=\"Plaky's recruitment process template\" class=\"wp-image-8267\" srcset=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/10\/Recruitment-process-template-in-Plaky-1.png 1200w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/10\/Recruitment-process-template-in-Plaky-1-300x196.png 300w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/10\/Recruitment-process-template-in-Plaky-1-1024x670.png 1024w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/10\/Recruitment-process-template-in-Plaky-1-768x502.png 768w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/10\/Recruitment-process-template-in-Plaky-1-18x12.png 18w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption class=\"wp-element-caption\">Recruitment process template in Plaky<\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"custom-btn translation-block\"><a href=\"https:\/\/plaky.com\/templates\/recruitment\" target=\"_blank\" rel=\"noreferrer noopener\">Get our recruitment process template<\/a><\/p>\n\n\n\n<p class=\"translation-block\">Since Plaky by CAKE.com is <a href=\"https:\/\/plaky.com\/hr\" target=\"_blank\" rel=\"noreferrer noopener\">human resources management software<\/a>, it can also serve as a centralized hub for all your HR processes and strategies, including recruitment, onboarding, and career planning and development.\u00a0<\/p>\n\n\n\n<h3 id=\"the-majority-of-entrepreneurs-are-happy\" class=\"wp-block-heading translation-block\">The majority of entrepreneurs are happy<\/h3>\n\n\n\n<p class=\"translation-block\">As per the latest data from Guidant Financial\u2019s <em>2024 Small Business Trends<\/em> report, optimism continues to run deep among entrepreneurs:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Small business owners reported higher happiness levels, with 72% saying they were somewhat or very happy with their ventures.<\/li>\n\n\n\n<li class=\"translation-block\">Only 12% of entrepreneurs were somewhat or very unhappy.&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">The rest \u2014 15% \u2014 maintained a more neutral perspective.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">Still, this doesn\u2019t mean stress isn\u2019t a huge part of an entrepreneur\u2019s life.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">According to Incfile\u2019s <em>2023 Small Business Challenges<\/em> report, <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230420005377\/en\/2023-Incfile-Small-Business-Trends-Survey-Reveals-68-of-Americans-Believe-They-Have-an-Entrepreneurial-Mindset\" target=\"_blank\" rel=\"noreferrer noopener\">47% of entrepreneurs<\/a> would like to reduce or otherwise eliminate stress and other mental health concerns.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">Similarly, a newer Founder Reports\u2019 <a href=\"https:\/\/founderreports.com\/entrepreneur-mental-health-statistics\/\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Entrepreneur Mental Health Statistics<\/em> <em>(2024)<\/em><\/a> showed that <strong>45.8% of entrepreneurs struggle with high stres<\/strong>s.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">Based on that, it\u2019s possible to conclude that though there are many benefits of entrepreneurship \u2014 this life path also includes a fair amount of stress.<\/p>\n\n\n\n<h2 id=\"entrepreneur-survival-rate-statistics\" class=\"wp-block-heading translation-block\">Entrepreneur survival rate statistics<\/h2>\n\n\n\n<p class=\"translation-block\">According to the US Bureau of Labor Statistics, slightly more than a <a href=\"https:\/\/www.bls.gov\/opub\/ted\/2024\/34-7-percent-of-business-establishments-born-in-2013-were-still-operating-in-2023.htm\" target=\"_blank\" rel=\"noreferrer noopener\">third of businesses (34.7%)<\/a> established in 2013 were still operating 10 years later. The businesses with the highest survival rate were:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">The agriculture, forestry, fishing, and hunting industry \u2014 50.5%,<\/li>\n\n\n\n<li class=\"translation-block\">Utilities \u2014 45.7%, and<\/li>\n\n\n\n<li class=\"translation-block\">Manufacturing \u2014 43.6%.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">The lowest survival rate was in:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Mining, quarrying, and oil and gas extraction \u2014 24.5%,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Information \u2014 29.1%, and<\/li>\n\n\n\n<li class=\"translation-block\">Wholesale trade \u2014 32.1%<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">\n<div class=\"banner banner-dark plaky-gradient-features\">\n    <div class=\"banner-text lg:pr-[6rem]\">\n        <h2 class=\"translation-block text-2xl !mb-4\">First-class PM software for small businesses<\/h2>\n        <p class=\"translation-block !text-sm\">Elevate your business with just one tool \u2014 Plaky by CAKE.com helps you organize all your business operations.<\/p>\n\n        <div class=\"banner-buttons d-flex space-x-4 translation-block\">\n            <a class=\"rounded-md px-6 py-2 bg-white\" href=\"https:\/\/app.plaky.com\/signup\" target=\"_blank\">Sign up<\/a>\n\n                            <a class=\"button-2\" href=\"https:\/\/plaky.com\" target=\"_blank\">Learn more<\/a>\n                    <\/div>\n    <\/div>\n\n    <div class=\"banner-image banner-image-middle \">\n        <picture>\n            <source srcset=\"https:\/\/plaky.com\/learn\/wp-content\/themes\/cake-learn\/src\/images\/plaky\/banners\/features@2x.png 2x\" alt=\"Illustration\"  media=\"(min-width: 1022px)\" \/>\n            <img decoding=\"async\" src=\"https:\/\/plaky.com\/learn\/wp-content\/themes\/cake-learn\/src\/images\/plaky\/banners\/features.png\"  alt=\"Illustration\" \/>\n        <\/picture>\n    <\/div>\n<\/div>\n    <\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"3939\" src=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Entrepreneur-motivations-and-challenges-1.png\" alt=\"Entrepreneur motivations and challenges \" class=\"wp-image-8708\" srcset=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Entrepreneur-motivations-and-challenges-1.png 1200w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Entrepreneur-motivations-and-challenges-1-91x300.png 91w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Entrepreneur-motivations-and-challenges-1-312x1024.png 312w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Entrepreneur-motivations-and-challenges-1-768x2521.png 768w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Entrepreneur-motivations-and-challenges-1-468x1536.png 468w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Entrepreneur-motivations-and-challenges-1-624x2048.png 624w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Entrepreneur-motivations-and-challenges-1-4x12.png 4w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n<\/div>\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 id=\"statistics-on-global-entrepreneurship\" class=\"wp-block-heading translation-block\">Statistics on global entrepreneurship<\/h2>\n\n\n\n<p class=\"translation-block\">Is entrepreneurship as well accepted globally as it is in the US? The latest GEM report offers all the answers.<\/p>\n\n\n\n<p class=\"translation-block\">As mentioned previously, TEA (adults who are nascent entrepreneurs or new business owners or managers) and EBO (adults who are owners or managers of established businesses) show us the <strong>percentage of individuals in each country who are actively starting or running a new or established business<\/strong>.<\/p>\n\n\n\n<p class=\"translation-block\">The <em>2024\/2025 GEM Report <\/em>provided the TEA and EBO percentages for 51 participating economies. Here are the top 10 countries (TEA):&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Rank<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>TEA (% of adults 18\u201364)<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">1<\/td><td class=\"has-text-align-left\" data-align=\"left\">Ecuador<\/td><td class=\"has-text-align-left\" data-align=\"left\">33.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">2<\/td><td class=\"has-text-align-left\" data-align=\"left\">Chile<\/td><td class=\"has-text-align-left\" data-align=\"left\">27.2<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">3<\/td><td class=\"has-text-align-left\" data-align=\"left\">Saudi Arabia<\/td><td class=\"has-text-align-left\" data-align=\"left\">26.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">4<\/td><td class=\"has-text-align-left\" data-align=\"left\">Canada&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">25.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">5<\/td><td class=\"has-text-align-left\" data-align=\"left\">Puerto Rico<\/td><td class=\"has-text-align-left\" data-align=\"left\">24.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">6<\/td><td class=\"has-text-align-left\" data-align=\"left\">Guatemala<\/td><td class=\"has-text-align-left\" data-align=\"left\">23.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">7<\/td><td class=\"has-text-align-left\" data-align=\"left\">Argentina<\/td><td class=\"has-text-align-left\" data-align=\"left\">23.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">8<\/td><td class=\"has-text-align-left\" data-align=\"left\">Bosnia &amp; Herzegovina<\/td><td class=\"has-text-align-left\" data-align=\"left\">22.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">9<\/td><td class=\"has-text-align-left\" data-align=\"left\">Jordan<\/td><td class=\"has-text-align-left\" data-align=\"left\">21.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">10<\/td><td class=\"has-text-align-left\" data-align=\"left\">Brazil<\/td><td class=\"has-text-align-left\" data-align=\"left\">20.3<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<p class=\"translation-block\">Here are the top 10 countries when EBO is concerned:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Rank<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>EBO (% of adults 18\u201364)<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">1<\/td><td class=\"has-text-align-left\" data-align=\"left\">Republic of Korea<\/td><td class=\"has-text-align-left\" data-align=\"left\">22.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">2<\/td><td class=\"has-text-align-left\" data-align=\"left\">Saudi Arabia<\/td><td class=\"has-text-align-left\" data-align=\"left\">19.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">3<\/td><td class=\"has-text-align-left\" data-align=\"left\">Greece<\/td><td class=\"has-text-align-left\" data-align=\"left\">14.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">4<\/td><td class=\"has-text-align-left\" data-align=\"left\">Guatemala<\/td><td class=\"has-text-align-left\" data-align=\"left\">14.2<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">5<\/td><td class=\"has-text-align-left\" data-align=\"left\">Ecuador<\/td><td class=\"has-text-align-left\" data-align=\"left\">13.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">6<\/td><td class=\"has-text-align-left\" data-align=\"left\">Brazil<\/td><td class=\"has-text-align-left\" data-align=\"left\">13.2<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">7<\/td><td class=\"has-text-align-left\" data-align=\"left\">Poland<\/td><td class=\"has-text-align-left\" data-align=\"left\">12.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">8<\/td><td class=\"has-text-align-left\" data-align=\"left\">Thailand&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">11.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">9<\/td><td class=\"has-text-align-left\" data-align=\"left\">Armenia&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">10.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">10<\/td><td class=\"has-text-align-left\" data-align=\"left\">United Kingdom<\/td><td class=\"has-text-align-left\" data-align=\"left\">9.8<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<h3 id=\"the-best-countries-for-entrepreneurship-overall\" class=\"wp-block-heading translation-block\">The best countries for entrepreneurship overall<\/h3>\n\n\n\n<p class=\"translation-block\">GEM researchers define the entrepreneurial context of the participating economies through Entrepreneurship Framework Conditions (EFCs).&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">The 2024\/2025 report outlined the following conditions that were examined to determine the state of entrepreneurship in each economy:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Entrepreneurial finance,<\/li>\n\n\n\n<li class=\"translation-block\">Ease of access to entrepreneurial finance,<\/li>\n\n\n\n<li class=\"translation-block\">Government policy \u2014&nbsp; support and relevance,<\/li>\n\n\n\n<li class=\"translation-block\">Government policy \u2014 taxes and bureaucracy,<\/li>\n\n\n\n<li class=\"translation-block\">Government entrepreneurial programs,<\/li>\n\n\n\n<li class=\"translation-block\">Entrepreneurial education at school,<\/li>\n\n\n\n<li class=\"translation-block\">Entrepreneurial education post-school,<\/li>\n\n\n\n<li class=\"translation-block\">Research and development transfers,<\/li>\n\n\n\n<li class=\"translation-block\">Commercial and professional infrastructure,<\/li>\n\n\n\n<li class=\"translation-block\">Ease of entry \u2014 market dynamics,<\/li>\n\n\n\n<li class=\"translation-block\">Ease of entry \u2014 burdens and regulations,<\/li>\n\n\n\n<li class=\"translation-block\">Physical infrastructure, and<\/li>\n\n\n\n<li class=\"translation-block\">Social and cultural norms.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">To determine how healthy the entrepreneurship environment is across participating countries, the <em>2024\/2025 GEM Report <\/em>referred to a key indicator known as the National Entrepreneurship Context Index (NECI). <strong>NECI is calculated by averaging each economy\u2019s EFC scores.<\/strong><\/p>\n\n\n\n<p class=\"translation-block\">Here are the NECI scores of the 51 countries that took part in the survey<em>:<\/em><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>NECI score<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">United Arab Emirates<\/td><td class=\"has-text-align-left\" data-align=\"left\">7.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Lithuania<\/td><td class=\"has-text-align-left\" data-align=\"left\">6.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Taiwan<\/td><td class=\"has-text-align-left\" data-align=\"left\">6.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Saudi Arabia<\/td><td class=\"has-text-align-left\" data-align=\"left\">6.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">India<\/td><td class=\"has-text-align-left\" data-align=\"left\">6.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Republic of Korea&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">6.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Bahrain<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Oman<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Indonesia<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Switzerland<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Qatar&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Estonia&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">China&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Latvia<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Japan<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">United States&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Norway<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Jordan<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Chile<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Armenia<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Austria&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">France&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Germany<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Canada&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Uruguay&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Sweden&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Italy<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Hungary<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">United Kingdom<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Luxembourg&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Serbia<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Kazakhstan<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Israel<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Thailand<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Greece<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Ukraine<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Romania<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Spain<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Cyprus&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.2<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Egypt<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.2<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Slovenia<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Mexico<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Costa Rica<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Brazil<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Poland<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Argentina&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Morocco<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Croatia<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">South Africa<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Ecuador&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Slovak Republic<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Guatemala<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Puerto Rico<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Belarus&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Venezuela&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Bosnia &amp; Herzegovina&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.4<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<h3 id=\"the-age-of-entrepreneurs-around-the-world\" class=\"wp-block-heading translation-block\">The age of entrepreneurs around the world<\/h3>\n\n\n\n<p class=\"translation-block\">According to the <em>2024\/2025 GEM Report<\/em>, younger people are more likely to delve into the world of entrepreneurship. The data covered individuals looking to start or run a business in 2 age groups: adults aged 18 to 34 and 35 to 64.<\/p>\n\n\n\n<p class=\"translation-block\">The table shows the ranking for the younger group, with the highest TEA.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Highest TEA (% of adults 18\u201334)<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Canada<\/td><td class=\"has-text-align-left\" data-align=\"left\">35.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Ecuador<\/td><td class=\"has-text-align-left\" data-align=\"left\">34.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Bosnia &amp; Herzegovina&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">27.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Puerto Rico\/Saudi Arabia<\/td><td class=\"has-text-align-left\" data-align=\"left\">25.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Armenia<\/td><td class=\"has-text-align-left\" data-align=\"left\">25.6<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<p class=\"translation-block\">Here are the countries with the lowest TEA for the younger group:&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Lowest TEA (% of adults 18\u201334)<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Austria<\/td><td class=\"has-text-align-left\" data-align=\"left\">6.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Romania\/Egypt<\/td><td class=\"has-text-align-left\" data-align=\"left\">6.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Costa Rica\/Greece<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Poland<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Kazakhstan<\/td><td class=\"has-text-align-left\" data-align=\"left\">2.8<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<p class=\"translation-block\">Here\u2019s the ranking of the older group, starting with the highest TEA.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Highest TEA (% of adults 35\u201364)<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Ecuador<\/td><td class=\"has-text-align-left\" data-align=\"left\">32.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Chile<\/td><td class=\"has-text-align-left\" data-align=\"left\">28.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Saudi Arabia<\/td><td class=\"has-text-align-left\" data-align=\"left\">26.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Argentina<\/td><td class=\"has-text-align-left\" data-align=\"left\">23.6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Guatemala<\/td><td class=\"has-text-align-left\" data-align=\"left\">22.9<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<p class=\"translation-block\">Let\u2019s look at the countries with the lowest TEA for the older group.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Lowest TEA (% of adults 35\u201364)<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Hungary<\/td><td class=\"has-text-align-left\" data-align=\"left\">6.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Greece<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Costa Rica<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">China<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Egypt<\/td><td class=\"has-text-align-left\" data-align=\"left\">4.0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<h3 id=\"men-and-women-as-entrepreneurs\" class=\"wp-block-heading translation-block\">Men and women as entrepreneurs<\/h3>\n\n\n\n<p class=\"translation-block\">The <em>2022\/2023 GEM Report<\/em> showed that in most countries, the male TEA rate was higher than the female TEA rate, indicating a gender gap on a global level.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">In Morocco, female and male TEA are equal. Moreover, there were 3 economies where the female TEA rate surpassed the male one:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Male TEA (%)<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Female TEA (%)<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Mexico<\/td><td class=\"has-text-align-left\" data-align=\"left\">14.4<\/td><td class=\"has-text-align-left\" data-align=\"left\">15.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Thailand<\/td><td class=\"has-text-align-left\" data-align=\"left\">18.6<\/td><td class=\"has-text-align-left\" data-align=\"left\">20.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">United Arab Emirates<\/td><td class=\"has-text-align-left\" data-align=\"left\">13.1<\/td><td class=\"has-text-align-left\" data-align=\"left\">14.7<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<p class=\"translation-block\">These rates confirmed entrepreneurship was still male-dominated around the world. The EBO rates confirmed this too, as female EBO rates surpassed male EBO rates in only 1 country \u2014 Thailand, where female EBO was 12.0% and male EBO was 11.5%.<\/p>\n\n\n\n<p class=\"translation-block\">In comparison, 2 years before, according to the 2022\/2023 Global Entrepreneurship Monitor Report, there were 5 economies where female EBO surpassed male EBO:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Male EBO (%)<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Female EBO (%)<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Togo<\/td><td class=\"has-text-align-left\" data-align=\"left\">17.0<\/td><td class=\"has-text-align-left\" data-align=\"left\">18.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Saudi Arabia<\/td><td class=\"has-text-align-left\" data-align=\"left\">9.5<\/td><td class=\"has-text-align-left\" data-align=\"left\">10.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Indonesia<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.5<\/td><td class=\"has-text-align-left\" data-align=\"left\">5.9<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Venezuela<\/td><td class=\"has-text-align-left\" data-align=\"left\">2.4<\/td><td class=\"has-text-align-left\" data-align=\"left\">2.7<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Israel<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.3<\/td><td class=\"has-text-align-left\" data-align=\"left\">3.6<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2022\/2023 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<p class=\"translation-block\">The 2022\/2023 GEM report also indicated the EBO relative gender gap was often smaller than the TEA relative gender gap. According to the researchers, this suggested 2 conclusions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Gender equality between new entrepreneurs is somewhat of a recent phenomenon, and\/or<\/li>\n\n\n\n<li class=\"translation-block\">Women have a harder time transitioning their ventures into established businesses than men.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"education-level-of-entrepreneurs-around-the-world\" class=\"wp-block-heading translation-block\">Education level of entrepreneurs around the world<\/h3>\n\n\n\n<p class=\"translation-block\">The <em>2024\/2025 GEM Report <\/em>also inquired about the highest level of education entrepreneurs from around the world managed to attain. The results showed that <strong>even though you don\u2019t need a degree to be an entrepreneur \u2014 it\u2019s definitely going to help<\/strong>.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">GEM calculated the TEA rate for both graduates and non-graduates across the 51 participating economies. The data showed the TEA rate for graduates exceeded that of non-graduates in 47 countries \u2014 the only exceptions were:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Brazil,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Egypt,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Greece, and&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Lithuania.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">The highest TEA rate for graduates was reported in Argentina at 39.7%, while the lowest was found in Poland at 2.9%.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">On the other hand, the highest TEA rate for non-graduates was in Ecuador at 33.3%, whereas the lowest was reported in Romania at 1.8%.&nbsp;<\/p>\n\n\n\n<h3 id=\"the-reasons-entrepreneurs-start-their-businesses\" class=\"wp-block-heading translation-block\">The reasons entrepreneurs start their businesses<\/h3>\n\n\n\n<p class=\"translation-block\">The <em>2024\/2025 GEM Report <\/em>also investigated the reasons someone might start a business, asking survey respondents to somewhat or strongly agree with 4 predefined motivations.<\/p>\n\n\n\n<p class=\"translation-block\">Here\u2019s which motivations were the most prevalent according to GEM\u2019s findings:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Motivation<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Lowest % of TEA who somewhat or strongly agree<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Highest % of TEA who somewhat or strongly agree<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country&nbsp;<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Make a difference in the world<\/td><td class=\"has-text-align-left\" data-align=\"left\">10.2<\/td><td class=\"has-text-align-left\" data-align=\"left\">Republic of Korea<\/td><td class=\"has-text-align-left\" data-align=\"left\">83.7<\/td><td class=\"has-text-align-left\" data-align=\"left\">Guatemala<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Build great wealth or very high income<\/td><td class=\"has-text-align-left\" data-align=\"left\">36.5<\/td><td class=\"has-text-align-left\" data-align=\"left\">Norway<\/td><td class=\"has-text-align-left\" data-align=\"left\">88.7<\/td><td class=\"has-text-align-left\" data-align=\"left\">Kazakhstan<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Continue a family tradition<\/td><td class=\"has-text-align-left\" data-align=\"left\">8.5<\/td><td class=\"has-text-align-left\" data-align=\"left\">Republic of Korea<\/td><td class=\"has-text-align-left\" data-align=\"left\">70.3<\/td><td class=\"has-text-align-left\" data-align=\"left\">India<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Earn a living because jobs are scarce<\/td><td class=\"has-text-align-left\" data-align=\"left\">30.4<\/td><td class=\"has-text-align-left\" data-align=\"left\">Taiwan<\/td><td class=\"has-text-align-left\" data-align=\"left\">93.6<\/td><td class=\"has-text-align-left\" data-align=\"left\">Venezuela<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<p class=\"translation-block\">As for which sectors were dominant across the globe, GEM didn\u2019t go into too much detail. The research covered 2 very broad categories:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Business-related and&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Consumer-oriented services as percentages of TEA.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">Per the latest findings, the highest percentages of TEA for consumer-oriented services in 2024 were noticed in Mexico (83.6%). Meanwhile, the highest percentage of TEA for business-related services was found in Slovenia (over 43.9%).<\/p>\n\n\n\n<h3 id=\"the-reasons-entrepreneurs-exit-their-businesses\" class=\"wp-block-heading translation-block\">The reasons entrepreneurs exit their businesses<\/h3>\n\n\n\n<p class=\"translation-block\">The GEM Adult Population Survey tried to learn how many entrepreneurs had exited their businesses in the past 12 months. Using that data, the<em> 2024\/2025 GEM Report <\/em>showed the highest percentages of business exits were noticed in these 5 countries:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Ecuador \u2014 9.5%,<\/li>\n\n\n\n<li class=\"translation-block\">Jordan \u2014 9.1%,<\/li>\n\n\n\n<li class=\"translation-block\">Brazil \u2014 7.4%,<\/li>\n\n\n\n<li class=\"translation-block\">Lithuania \u2014 7.1%, and<\/li>\n\n\n\n<li class=\"translation-block\">Qatar \u2014 6.7%.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">The same survey inquired about the reasons for these exits and categorized them into:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Positive (e.g., another business opportunity or a chance to sell the business) and&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Negative (e.g., unprofitability, high taxes, bureaucracy, etc.).&nbsp;<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>The top 5 countries with the highest percentages of positive reasons<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>The top 5 countries with the highest percentages of negative reasons<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Canada \u2014 4.4%<\/td><td class=\"has-text-align-left\" data-align=\"left\">Jordan \u2014 9.1%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Lithuania \u2014 4.2%<\/td><td class=\"has-text-align-left\" data-align=\"left\">Brazil \u2014 8.6%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Ecuador \u2014 3.3%<\/td><td class=\"has-text-align-left\" data-align=\"left\">Ecuador \u2014 8.3%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Puerto Rico \u2014 3.5%<\/td><td class=\"has-text-align-left\" data-align=\"left\">Qatar \u2014 7.3%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">United States \u2014 3.1%<\/td><td class=\"has-text-align-left\" data-align=\"left\">Oman \u2014 7.2%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 id=\"entrepreneurs-concerns-about-their-social-impact\" class=\"wp-block-heading translation-block\">Entrepreneurs\u2019 concerns about their social impact<\/h3>\n\n\n\n<p class=\"translation-block\">According to the <em>2024\/2025 GEM Report<\/em>, strong social and environmental concerns could be noticed among both new and established businesses.&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">The report examined how important social implications were to those starting or running new or established businesses. The top 5 countries with the highest percentages in this category were:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>% TEA that always consider the social implications of their decisions<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">India<\/td><td class=\"has-text-align-left\" data-align=\"left\">95.2<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Brazil<\/td><td class=\"has-text-align-left\" data-align=\"left\">91.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Guatemala<\/td><td class=\"has-text-align-left\" data-align=\"left\">91.5<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Slovenia<\/td><td class=\"has-text-align-left\" data-align=\"left\">88.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Costa Rica<\/td><td class=\"has-text-align-left\" data-align=\"left\">88.1<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<h3 id=\"early-stage-entrepreneurs-prioritize-environmental-sustainability\" class=\"wp-block-heading translation-block\">Early-stage entrepreneurs prioritize environmental sustainability&nbsp;<\/h3>\n\n\n\n<p class=\"translation-block\">As for environmental implications, the previously mentioned <em>2024\/2025 GEM Report <\/em>shows an impressive percentage of early-stage entrepreneurs who always consider the environmental implications of their decisions. These are the top 5 countries with the highest scores in this category:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>% TEA that always consider the environmental implications of their decisions<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Guatemala<\/td><td class=\"has-text-align-left\" data-align=\"left\">92.6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Poland<\/td><td class=\"has-text-align-left\" data-align=\"left\">91.8<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Brazil<\/td><td class=\"has-text-align-left\" data-align=\"left\">91.1<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">China&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">90.3<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Argentina&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">88.9<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n\n<p class=\"translation-block\">The same report shows that <strong>most early-stage entrepreneurs prioritize environmental sustainability over profits in 40 out of 51 economies<\/strong>.<\/p>\n\n\n\n<p class=\"translation-block\">Here are the top 5 countries with the highest percentage of early-stage entrepreneurs who prioritize environmental sustainability over profit:&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Country<\/strong>&nbsp;<\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>% TEA that prioritize<\/strong><strong>sustainability over profit<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Brazil<\/td><td class=\"has-text-align-left\" data-align=\"left\">57.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Guatemala&nbsp;<\/td><td class=\"has-text-align-left\" data-align=\"left\">54.6<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Saudi Arabia<\/td><td class=\"has-text-align-left\" data-align=\"left\">48.0<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Thailand<\/td><td class=\"has-text-align-left\" data-align=\"left\">47.4<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Puerto Rico<\/td><td class=\"has-text-align-left\" data-align=\"left\">46.0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-text-align-left translation-block\">Data source: 2024\/2025 Global Entrepreneurship Monitor Report<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"3799\" src=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Global-entrepreneurship-statistics-1.png\" alt=\"Global entrepreneurship statistics (1)\" class=\"wp-image-8707\" srcset=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Global-entrepreneurship-statistics-1.png 1200w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Global-entrepreneurship-statistics-1-95x300.png 95w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Global-entrepreneurship-statistics-1-323x1024.png 323w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Global-entrepreneurship-statistics-1-768x2431.png 768w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Global-entrepreneurship-statistics-1-485x1536.png 485w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Global-entrepreneurship-statistics-1-647x2048.png 647w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2025\/03\/Global-entrepreneurship-statistics-1-4x12.png 4w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n<\/div>\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 id=\"how-plaky-by-cake-com-helps-you-start-and-manage-your-business-successfully\" class=\"wp-block-heading translation-block\">How Plaky by CAKE.com helps you start and manage your business successfully<\/h2>\n\n\n\n<p class=\"translation-block\">Although statistics say every 2 out of 3 businesses fail in the first decade of their existence, you can do your best to be in the third that succeeds. It helps immensely if you use <a href=\"https:\/\/plaky.com\/small-business\" target=\"_blank\" rel=\"noreferrer noopener\">project management software for small businesses<\/a>!&nbsp;<\/p>\n\n\n\n<p class=\"translation-block\">If you need help organizing your business \u2014 whether it\u2019s <a href=\"https:\/\/plaky.com\/blog\/project-management-workflow\/\" target=\"_blank\" rel=\"noreferrer noopener\">PM workflow<\/a> improvement, <a href=\"https:\/\/plaky.com\/blog\/what-is-crm\/\" target=\"_blank\" rel=\"noreferrer noopener\">customer relationship management<\/a>, or anything else \u2014 <a href=\"https:\/\/plaky.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Plaky<\/a> by <a href=\"https:\/\/cake.com\/\" type=\"link\" id=\"https:\/\/cake.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CAKE.com<\/a> has got you covered. It optimizes your business operations, as it helps you:\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Plan and organize your tasks with <a href=\"https:\/\/plaky.com\/features\/board\" target=\"_blank\" rel=\"noreferrer noopener\">boards<\/a>,<\/li>\n\n\n\n<li class=\"translation-block\">Collaborate with your teammates seamlessly by sharing real-time updates in the <a href=\"https:\/\/plaky.com\/features\/comments\" target=\"_blank\" rel=\"noreferrer noopener\">comments sections<\/a>,<\/li>\n\n\n\n<li class=\"translation-block\"><a href=\"https:\/\/plaky.com\/features\/files\" target=\"_blank\" rel=\"noreferrer noopener\">Centralize your files and documents<\/a>, and<\/li>\n\n\n\n<li class=\"translation-block\">Monitor task progress at every stage, thanks to different <a href=\"https:\/\/plaky.com\/features\/board-views\" target=\"_blank\" rel=\"noreferrer noopener\">board views<\/a>.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"1114\" src=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Kanban-roadmap-in-Plaky.png\" alt=\"Kanban project board shown in Plaky project management software\" class=\"wp-image-8442\" srcset=\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Kanban-roadmap-in-Plaky.png 1200w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Kanban-roadmap-in-Plaky-300x279.png 300w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Kanban-roadmap-in-Plaky-1024x951.png 1024w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Kanban-roadmap-in-Plaky-768x713.png 768w, https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/06\/Kanban-roadmap-in-Plaky-13x12.png 13w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption class=\"wp-element-caption\">Example of Kanban view in Plaky<\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"translation-block\">What\u2019s more, there\u2019s a great number of <a href=\"https:\/\/plaky.com\/templates\/\" target=\"_blank\" rel=\"noreferrer noopener\">templates<\/a> available, which can be used in a variety of industries and businesses, including:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"translation-block\">Marketing,<\/li>\n\n\n\n<li class=\"translation-block\">HR,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Sales and CRM,<\/li>\n\n\n\n<li class=\"translation-block\">Development,&nbsp;<\/li>\n\n\n\n<li class=\"translation-block\">Project management,<\/li>\n\n\n\n<li class=\"translation-block\">Non-profit campaigns,<\/li>\n\n\n\n<li class=\"translation-block\">Real-estate management, and<\/li>\n\n\n\n<li class=\"translation-block\">Construction.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">The main thing is, you don\u2019t have to build a board from scratch. Instead, you can use Plaky\u2019s templates to <strong>ease your workload<\/strong> and <strong>kickstart your projects and processes in no time at all!<\/strong><\/p>\n\n\n\n<p class=\"translation-block\"><em>You don\u2019t have to be a part of bleak entrepreneur statistics \u2014 sign up for a free Plaky account and start building your empire today!&nbsp;<\/em><\/p>\n\n\n\n<p class=\"custom-btn translation-block\"><a href=\"https:\/\/app.plaky.com\/signup\" target=\"_blank\" rel=\"noreferrer noopener\">Get started with Plaky by CAKE.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Explore the latest entrepreneur statistics and trends and learn about the state of entrepreneurship in 2025.<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26,19],"tags":[],"class_list":["post-3425","post","type-post","status-publish","format-standard","hentry","category-additional-materials","category-how-to-start-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/posts\/3425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/comments?post=3425"}],"version-history":[{"count":56,"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/posts\/3425\/revisions"}],"predecessor-version":[{"id":12104,"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/posts\/3425\/revisions\/12104"}],"wp:attachment":[{"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/media?parent=3425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/categories?post=3425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/plaky.com\/learn\/wp-json\/wp\/v2\/tags?post=3425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}