The biggest challenge in life is lack of information, as learning can help to overcome fears and obstacles. A recent article by NorthOne compiled various statistics on entrepreneurship, shedding light on this field. Globally, there are around 582 million entrepreneurs, with the number expected to rise due to Gen Z’s interest in entrepreneurship. Surprisingly, only 4% of entrepreneurs raise funds from investors, while 44% have a college degree. Most startups fail not due to the efforts of entrepreneurs, but because they fail to solve a real problem for customers.
Despite common misconceptions, well-paid employees are not necessarily happier than entrepreneurs. In fact, a high percentage of employees are dissatisfied with their work, compared to entrepreneurs who find fulfillment as founders. It is also not as expensive to start a small company as many believe, with success depending on one’s skillset and business model. Starting an AI-based company is not essential for success, as there are growth opportunities in industries like personal care and healthcare.
Many people start their own businesses because they want to be their own boss and create something of their own. It is not as difficult as it might seem to become an entrepreneur, as there are 31 million entrepreneurs in the US alone. Changing one’s mindset, seeking advice from experts, and starting a side gig can help test the waters of entrepreneurship. Ultimately, it’s about finding what inspires you and taking the leap to pursue your passion. Despite fears and uncertainties, the journey of entrepreneurship can be fulfilling and rewarding for those who are willing to take the leap.
