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Facts & Figues of StartUp World

Facts & Figues of StartUp World

The Indian government defines a startup as an entity less than seven years young with an annual turnover of less than 250 million rupees and headquartered in India. The Startup India initiative, by the country’s Department of Industrial Policy and Promotion helps build a positive, effective ecosystem in the country, turning business ideas into a reality for a flourishing startup environment.

Each year, thousands of ambitious entrepreneurs start new businesses. These entrepreneurs feel bright and full of hope. And plenty of small business statistics show that by the end of four years more than half of them will be gone

GENERAL STARTUP STATISTICS

  • 69 percent of U.S. entrepreneurs start their businesses at home.
  • According to the National Association of Small Business’s 2017 Economic Report, the majority of small businesses surveyed are LLCs (35 percent) followed by S-corporations (33 percent), corporations (19 percent), sole proprietorships (12 percent), and partnerships (2 percent).
  • 51 percent of people asked, “What's the best way to learn more about entrepreneurship?” responded with “Start a company”.

SMALL BUSINESS OWNER STATISTICS

Gender:

  • 73 percent identify as male; and
  • 25 percent identify as female.

Age Range:

  • 50-59 years old: 35 percent;
  • 40-49 years old: 25 percent;
  • 60-69 years old: 18 percent;
  • 30-39 years old: 14 percent;
  • 18-29 years old: 4 percent; and
  • 70+ years old: 4 percent.

Education:

  • High School / GED: 33 percent;
  • Associates Degree: 18 percent;
  • Bachelor’s Degree: 29 percent;
  • Master’s Degree: 16 percent; and
  • Doctorate: 4 percent.

 Reasons for starting business:

 

  • Ready to be his/her own boss: 26 percent;
  • Wanted to pursue his/her passion: 23 percent;
  • The opportunity presented itself: 19 percent;
  • Dissatisfied with corporate America: 12 percent;
  • Laid off or outsourced: 6 percent;
  • Not ready to retire: 6 percent;
  • Other: 5 percent
  • Life event such as divorce, death, etc.: 3 percent.

FASTEST GROWING SMALL BUSINESS INDUSTRIES

The industries with the top numbers of small business startups in 2018 were:

  • Business services: 11 percent;
  • Food/Restaurant: 11 percent;
  • Health/Beauty/Fitness: 10 percent;
  • General retail: 7 percent;
  • Home services: 6 percent.

INDUSTRIES WITH THE BEST STARTUP STATISTICS

The 10 most profitable small business industries by net profit margin (NPM) are:

  • Accounting, Tax preparation, Bookkeeping, and Payroll Services: 18.4 percent NPM
  • Lessors of Real Estate: 17.9 percent NPM
  • Legal Services: 17.4 percent NPM
  • Management of Companies and Enterprises: 16 percent NPM
  • Activities Related to Real Estate: 14.9 percent NPM
  • Offices of Dentists: 14.8 percent NPM

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