US: Current Situation of US Entrepreneurship Development
  • 2023-05-04
  • Entrepreneurship Research Center on G20 Economies
  • Edit
  • According to the Global Entrepreneurship Monitor, there are 31 million entrepreneurs in the U.S., which is about 16% of the adult workforce. However, about 55% of adults have started a business at some point in their lives, and 26% have started two or more businesses. In general, entrepreneurship is viewed positively in America, with 63% of Americans believing that it’s a good career choice. 

    According to Guidant Financial, the five top industries to see new small businesses in the United States are Food and Restaurant (12%), Retail (11%), Business Services (11%), Health Beauty and Fitness (9%), and Residential and Commercial Services (7%). Since these industries are the most popular, they’re also the most competitive. However, you’re more likely to get financial backing and see success because these industries are in high demand. 

    According to the SBA, there are 31.7 million small businesses in the U.S. and only 20,139 large businesses, which means small businesses account for 99.9% of all the businesses in the country. They’re the lifeblood of the American dream, making up 50% of the economy. From 2000-2019, small businesses created 10.5 million net new jobs while large enterprises only created 5.6 million. Small businesses make up 65.1% of all new jobs created and employ 47.1% of all private-sector employees.

  • Partners

  • Global Health Innovation Center (GHIC)
  • World Intelligent Incubation Network (WIIN)
  • National University of Singapore
  • Canada-China Institute For Business & Development
  • TusPark Research Institute for Innovation
  • Cross-strait Tsinghua Research Institute
  • Tsinghua X-Lab

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