Entrepreneurship is interesting just like a roller coaster. It comes with fear, risks, thrill, challenges, and success. All in all, entrepreneurship lets you come out of your comfort zone and you get the chance to explore your strengths and weaknesses.
Now approximately 600 million people have started their journey as an entrepreneur.
When it comes to entrepreneurship, there are many interesting facts that can blow one’s mind. It surely comes with possibilities and unpredictability simultaneously.
Below we have enlisted the 5 Interesting Facts about Entrepreneurship that you never knew before.
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1. Experience; How much Is Needed?
Many people hate doing 9-5 Jobs and want to set up their own business from the start of their career.
According to stats, 90% of start-up businesses failed because of a lack of experience. And business starters who had experience from their previous jobs before starting their own business were more successful than others.
Moreover, research reveals that 75% of successful entrepreneurs worked as an employee in other companies for six years before starting their own business.
2. Are their Young Entrepreneurs?
The world has proved to us that talent doesn’t have any age limit. It is only a digit now.
Most people need prior experience and knowledge for becoming a successful entrepreneur, but these young souls were blessed with God-Gifted talents through which they left their unforgettable mark in the world by bringing new innovations that even amazed the experienced fellows.
With the most famous Mark Zuckerberg co-founding Facebook at the age of 19, we have many other examples of even younger entrepreneurs that have changed the world by unleashing their God-Gifted potential.
The youngest CEO of the world, Hillary Wip entered her journey of entrepreneurship only at the age of 10, showed her talent in the tech sector, and at 15, she became the owner of MinorMynas which is an online education system created for children.
3. Mind-Blowing Entrepreneurship Statistics:
- An amazing entrepreneurship fact is that only 9% of business owners hold a bachelor’s degree in business.
- Similarly, for getting a basic understanding of this field, only 32% of entrepreneurs took few business courses while 46% of entrepreneurs don’t have any business degree at all.
2. Moreover, approximately only 3% of entrepreneurs went for a Ph.D. or master’s degree in business, according to entrepreneurship data.
3. Research revealed that middle-aged people who started their business at the age of 43-45 became successful Entrepreneurs.
4. Women account for owning 36% of small businesses in the world.
5. The country which has the highest number of women-owned businesses is Ghana.
4. How many Female Entrepreneurs are there Worldwide?
With over 49.6% of the world’s population are women, and they have amazingly proved to make their names successful in every sector of life.
The interesting fact is that out of 600 million entrepreneurs, there are 252 million business women. From the last 20 years, the number of female entrepreneurs has risen up to 114%.
Along with that, another 153 million women are running a successful business.
5. Why People become Entrepreneurs?
The number 1 reason that motivated people to become entrepreneurs is that they wanted to be their own boss, and admired to take risks, challenges, and decisions on their own.
Other than that, the unexpected insecurities related to job and income made them realize that their talent, untiring efforts and hard work deserves a much better outcome. In other words, they were unsatisfied with their current job.
These were some of the 5 Interesting Facts about Entrepreneurship. Undoubtedly, it boasts thrill, challenges, and excitement.
Taking entrepreneurship as fantasy won’t benefit a person in any way. Being a successful entrepreneur requires you to accept it along with its hurdles with courage and fearlessness.