7 Amazing Facts About Entrepreneurship

We all know about the likes of Steve Jobs, Colonel Sanders, Warren Buffet, and Richard Branson. These guys all built a huge empire from hard work, sweat, grit, perseverance, a few decent breaks, and the possession of amazing business brains.

When it comes to making it big, it's easy to envisage the budding entrepreneur living on coffee, working 80 plus hours a week, and sleeping under their desk. Or, think that the UK and America are the most entrepreneurial places on the planet. But that's not necessarily true - much like many perceptions we have about entrepreneurship today - as these facts show...

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1. According to a study by Kauffman, the number of women entrepreneurs grew in 2013.

2. When founding a startup,  70% of founders are married, and 60% have at least one child.

3. California’s share of America’s $100 million tech companies is in decline. In the 90s 35% of new, successful tech companies were in California, but today it’s just 20%.

4. The industries with the highest success rates are finance, insurance, and real estate. Generally, 58% of these businesses are still open after four years.

5. Scaling too soon is said to be one of the main reasons for failure. Basically, don't get too big for your boots too soon.

6. According to a recent survey, Uganda is the world's most entrepreneurial country. This analysis is based on the percentage of an adult population who own or co-own a business that has paid salaries for more than three months, but less than 42.

7. Apparently, the smaller your business, the happier you are. Based on research, people working in companies with five to nine members of staff are more content, and more productive, than those in businesses made up of 100 to 499.

Entrepreneurship is a wonderful thing and evidently, it's more diverse than you might think. Are you building an empire? Subscribe to our mailing list for tips, advice, and industry insights.

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