Business study: “New Insight Into Entrepreneurship In America”: Download here for free!
✔ America’s dream job criteria
✔ Starting your business: What obstacles do Americans face?
✔ Impact of COVID-19 on start-up behavior: Have new opportunities grown out of the crisis?
✔ Digitalization in times of the pandemic: Why digital models gain more importance in business?
✔ Going green: How important is sustainability for future founders?
Key facts from the US study
- A changed world: 44% of the participants want to go self-employed as a result of the pandemic
- Around 80% of participants want to start their own business
- Women are especially dissatisfied with their jobs
- Most appealing aspects of starting up in the US: flexible working hours and living out passions
- Americans would rather start up in rural areas (15.3%) over cities (10.7%)
- Fear of financial loss is keeping Americans back from self-employment
- Participants consider mothers to have the hardest time starting up
- Experience is more important to the participants than the business idea itself
- Individualism: Americans prefer to start their businesses alone
- 90% of participants state that sustainability plays an important role for them when starting a business
What does the perfect profession look like for Americans?
Home offices, temp work, and job losses: The pandemic has brought hard times for many in the US. Americans have reconsidered what makes up a dream job after facing unexpected professional challenges due to COVID-19. Permanent positions that were once thought to be secure are now uncertain. So how did these change the American dream? After almost two years of living through the pandemic, the time came to ask US citizens about their dream jobs. What does the perfect job look like and how do they feel about self-employment?
We explored exactly this in our US-Business Survey: “New Insight Into Entrepreneurship In America”
Insights to the fears and dreams in business
500 American participants aged between 20 to 50 years took part in our survey. Among them were equal numbers of men and women. In the quantitative survey the respondents were asked about their current profession and their satisfaction with their job. We were also curious as to what has been keeping Americans from starting their own businesses in such a start-up friendly country.
Starting a business: The biggest obstacles
Most Americans are enthusiastic about the idea of starting their own businesses. More than 90% of the participants stated that they can imagine founding a company. But there are many hurdles in their way. We wanted to find out the most common reason as to why Americans are not leaping into self-employment. So, what keeps the participants from starting up?
1st place: Lack of financial reserves (28.4%)
2nd place: No idea / idea not yet fully developed (18.1%)
3rd place: Fear of failure (12.7%)
4th place: Lack of safety net (9.7%)
5th place: Still in training or studying (8.1%)
Going solo: No business partner is necessary
When asked about business partners it quickly became clear that Americans prefer to run their companies alone. Only 30% stated that they could imagine starting up with their partners. Women were more enthusiastic about the idea of starting a business with their loved ones (36%), whereas the men were not so keen (26%). It seems that Americans know better than to mix business and pleasure.
Self-realization in hard times: New opportunities from COVID-19
Nearly half of the participants said that their aspirations for self-employment increased as a result of the pandemic, women, in particular, feel more driven towards starting up. Just 12% felt that they had a higher desire for permanent employment. It turns out that the pandemic did not hinder dreams, it created them!
Importance of an online presence
The pandemic pushed more businesses online, and as a result, 32% of participants believe an online presence for their brands is the most important aspect when considering their future businesses. More than 18% said they would go as far as to only use a digital business model thus getting rid of the analog model altogether.
Is going green genuine?
Sustainability is becoming increasingly more important in an era shaped by climate change. Are new businesses and start-ups concerned? More than 90% of the participants stated that they would want their businesses to be sustainable. But the reasons for this are not what you'd think. Rather than concern for the planet, the top motive was conveying a positive image to potential customers.
New insight into entrepreneurship from the expert
Caroline Castrillon is a successful coach that helps people escape their corporate lives for a more fulfilling career. There was nobody better suited to ask about the results of the US study. In the survey, you’ll find bonus content and an interview with Caroline, where she discusses her thoughts on the results and shares her personal experience in entrepreneurship and self-employment.
Making the dream come true
In our ebook, you'll find out what Americans want from their careers and gain an insight into the great willingness to start a business and the even greater obstacles that often stand in the way on the path to self-employment. Read more about how American attitudes have changed towards running a business, and how digitization and sustainability play a major role in these new views.