Three in five (62 percent) Americans want to make their dream of owning a business a reality in 2018, according to new research.
The study explores the ambitions and perceptions that 1,000 American non-business owners have around becoming their own boss and the reality experienced by 500 existing small business owners.
Results show as many as 37 percent have genuine aspirations to become their own boss and a further 25 percent might seriously consider it.
The research from Vistaprint found financial concerns and worry over how their business will be funded are the biggest barriers preventing people from making this leap, followed by fear of failure.
“Small businesses form the backbone of the economy, strengthen local communities and provide significant value to their customers, so it’s encouraging to see so many Americans would like to start their own companies,” said Vistaprint CEO, Trynka Shineman. “Through our research, we hope to support the next generation of entrepreneurs, by shedding light on the motivations for starting a business and the success factors, challenges and rewards of striking out on your own — based on the experiences of current owners.”
Reasons to go it alone
When thinking about the reasons to start a company, current business owners say the yearning for a better lifestyle trumps the desire to make more money. The ability to be in charge of your own destiny and work flexibly were the top reasons existing owners provided, followed by financial independence, added satisfaction and improved work/life balance.