Two in five small businesses are started at a private residence.
70% of small businesses started at home will be based on information.
Seven in ten businesses started are within the ‘service’ industry.
58% of small business
Phone Number List owners had a starting budget of $25,000.
33% of small business owners had a starting budget of less than $5,000.
A home-based small business typically costs just $2,000 to $5,000 to start.
30% of business owners who started a business during the Covid pandemic said they would never open a physical store.
The number of small businesses that started during the pandemic increased by 24% in the US.
Younger entrepreneurs are more likely to start a business because they have a passion for the niche.
Those under 39 are 188% more likely to start a side hustle and work in full/part-time employment than those 40 or over.Nearly nine in ten small businesses (88%) hire fewer than 20 employees.
Small businesses employ 50% of the workforce.
In 2020 Small businesses accounted for 1.6 million new jobs.
Only 23.3% of home businesses have paid employees.
60.1% of all small businesses that have no paid staff are based at home.
More than half (56%) of small business owners find it challenging to hire good employees.
Nearly two-thirds of companies outsource recruitment processes to reduce costs while attracting a higher number of potential candidates.
More than a third (35%) of small business owners believe the employment market is getting harder to discover good employees.
Small businesses will increase remote work by 13.5% in the next few years.