Facts About Entrepreneurs That May Surprise You!

Age doesn’t matter:

The average and median age of company founders when they started their current companies was 40. In fact, people between 55 and 64 have the highest rate of entrepreneurship in America. That means it’s never too late to follow your dreams and start a business.

Education Matters:

Turns out, 95.1 percent of respondents had earned bachelor’s degrees, and 47 percent had advanced degrees.

You can have a relationship:

Just over 69 percent of respondents indicated they were married when they launched their first business. You may find your significant other is your biggest fan and your main source of emotional support.

You can have kids:

59.7 percent of people indicated they had at least one child when they launched their first business, and 43.5 percent had two or more children. At least where kids are concerned, are always ready to give you a hug when you need it most.

Keep trying:

The majority of the entrepreneurs are serial entrepreneurs owning, on average 2.3 businesses. So keep trying. The only time you truly fail is when you give up and refuse to try again.

Passion is Important... And So is Building Wealth:

74.8 percent of respondents indicated the desire to build wealth as an important motivation in becoming an entrepreneur. So feel free to change the world–and in the process change your financial picture as well. There’s nothing wrong with trying to do both.

Most Entrepreneurs are Born Entrepreneurs:

Only 4.5 of entrepreneurs said the inability to find traditional employment was an important factor in starting a business. Entrepreneurship isn’t the last option for most people– it’s the first.

Working For Someone Else Builds a Solid Foundation:

The majority of entrepreneurs have worked as employees at other companies for more than six years before launching their own companies. What they learned was invaluable– both in terms of what to do and in terms of what not to do.

Parents Still Dream of Big Things for Their Children:

Entrepreneurs are usually better educated than their parents. Play it forward by working hard to set your children up for even greater success than you achieve.

But That Doesn't Mean Entrepreneurs Follow Their Parent's Paths

Entrepreneurship doesn’t always run in the family. 51.9 percent of entrepreneurs were the first in their families to launch a business.