Ten Factors for Entrepreneurial Success
Chapter 3: Everybody gets involved; some more than others
Who gets involved in business creation? Everybody. No one is excluded. Those involved include men and women of all ages, from all ethnic groups, and from all backgrounds. At any given time, about 16.3 million, 9.5 million men and 6.8 million women, are involved in trying to start a new business in the United States. As the typical start-up is a team effort, this is about 9.8 million business ventures. Two issues are relevant. The tendency of different individuals to get involved and the absolute number that are active. The bars in Figure 3.1 represent participation rates, number per 100, and the line the total counts, from 200,000 to 2.4 million. As shown by the bars, participation is about twice as high for men compared to women. The most active group are men 35 to 44 years old, about one in eight (12%) are active in business creation. The most active women are their age peers, but only one in 12 (8%) are involved. At the other extreme are those men and women 65 to 74 years old, where one in 35 (2.9%) are nascent entrepreneurs. While this is 4% of the total, it does represent hundreds of thousands of individuals.
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