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.