Small Business Startup News
Entrepreneurs Ambitious And Independent, Not Out Of Options, Survey Says
Written by Jenna Weiner
Published: 7/8/2009
Despite the image of laid off workers turning to entrepreneurship, an inability to find traditional employment was found to be the least common reason to start a company, a recent study revealed.
Despite what has often been said in the news, for entrepreneurs the desire to start their own companies is deep-rooted, not a result of an inability to find traditional employment.
A recent study by the Ewing Marion Kauffman Foundation, titled Anatomy of an Entrepreneur, found that more than half of entrepreneurs had an interest in entrepreneurship in college. In addition, of those who said they were "extremely interested" in entrepreneurship in college, 47 percent have founded more than two companies.
Challenging the common theory that entrepreneurship increases during tough economies as a solution to layoffs, the study found that only 4 percent of entrepreneurs cited "inability to find traditional employment" as a factor in starting their business.
Instead, entrepreneurs tend to run on ambition and independence - the primary factor in starting a business was "building wealth," followed by "capitalizing on a business idea," "the appeal of startup culture," "desire to own a company" and "lack of interest in working for someone else."
The Kauffman study findings are in line with the June Discover Small Business Watch, which found that "needing a job" was the least common factor for starting a business.
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