Small Business is our Business

There is no “one path” to small business ownership.  The reason for starting a business is as varied as the entrepreneurs themselves. Bank of  America’s 2012 Small Business Owner Report reveals the following reasons—–

* Desire for independence (I want to be my own boss)                       30%

*Trade expert   (I want to become an expert in my field)                   19%

*Generational  ( I inherited the family business)                                 16%

*Career changer   (I wanted to try something different)                     15%

*Necessity ( I lost my job)                                                                           9%

*Serial entrepreneur ( I start and purchase businesses regularly)      9%

Younger business owners aged 25-34 are mostly business   owners out of necessity (9%) or have inherited the family business(16%).   For those aged 45-65 the reasons for starting a business are independence and  trade expertise.

 

 

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