ENTREPRENEURSHIP

Detailed explanation-1: -spotlights new entrepreneurs and shows that in 2021 women started 39.9% of businesses, compared to 60% created by men. The percentage of women-owned startups has been relatively consistent since 1996, ranging between a high of 46.4% in 1998 and a low of 36.3% in 2007.

Detailed explanation-2: -Women entrepreneurs rely on no one but themselves. Females are more likely than men to be self-employed. Females make up 82.5 percent of lone entrepreneurs (compared to 69.8% of males), and they are almost half as likely as men to have a partner (12.4 percent compared to 22.9 percent).

Detailed explanation-3: -Within their first 10 years, 65% of businesses fail, according to the BLS. So 35% of businesses are still in business after 10 years. According to the same source, just 25% of businesses survive 15 or more years. In order to succeed, 38% of entrepreneurs stat that being self-disciplined is the most important factor.

Detailed explanation-4: -16.5 percent of all US adults are entrepreneurs (GEM, 2022). 67.7 percent of the world’s wealthiest individuals (with a net worth of at least $30 million) are self-made (CNBC, 2019).