Saturday, October 01, 2022

Women and Entrepreneurs of Color Are Flocking to Entrepreneurship

What's the biggest rival for businesses?  Self-employed individuals, better known as entrepreneurs.  They are creating jobs and economic opportunity.

According to recent research by Gusto in its New Business Owner Survey, 36% of entrepreneurs said they started their business after voluntarily quitting their job. 

One of the key trends from the survey is that women and entrepreneurs of color are flocking to entrepreneurship.  

Founders of new businesses were much likely to be Black, Hispanic, and female in 2020 and 2021 than in 2019. In 2019, 28% of new business owners were women, versus 49% in 2021. And in 2019, Black or African American entrepreneurs made up less than 3% of entrepreneurs; by 2021 that share had tripled to 9%.

New business creation is making a comeback.  Why not control your destiny?

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