More than half (51%) of the nation’s workers currently own or desire to own their own business, a recent University of Phoenix® survey reports. Of those who don’t currently own their own business, 41 percent hope to do so in the future.
The online survey of more than 1,600 workers showed that age plays a significant factor as 55 percent of workers in their 20s who don’t currently own a business desire to in the future, followed by 48 percent of workers in their 30s and 36 percent in their 40s. Another 39 percent of workers in their 50s and 26 percent of workers age 60 or older who don’t own a business, want to become future entrepreneurs.
Regions also differed with workers who currently own or want to own a business:
- Los Angeles (67%)
- Atlanta (65%)
- New York City (54%)
- Chicago (54%)
- Dallas-Ft. Worth (51%)
- San Francisco (48%)
“Being a business owner isn’t easy, but can be very rewarding for those who have done their homework and are educated about the different facets of running a business,” said Dr. Sam Sanders, college chair for University of Phoenix School of Business and a former human resources executive with more than 20 years of experience. “One of the biggest challenges is recognizing what you do not know. Entrepreneurs may have a solid understanding of a niche or industry, but may not have a lot of experience in other aspects of running a business, including strategic planning, marketing, finance, people management, procurement and research and design. Business degree programs and continuing education, along with a variety of free business resources and networking opportunities, can help entrepreneurs fill these gaps and strengthen their business acumen.”
Other findings include:
- 80 percent of workers identified things that they would do differently if they were boss
- More training and education opportunities for employees was the top change (41%)
- Create a more flexible work environment (37%)
- More than one-third (35 percent) would rely more on teamwork and collaboration
- 33 percent would hire better-qualified employees