Small business community today is getting bigger and its growth can be seen from the increased number of people that turn into small business owners and entrepreneurs. There are many reasons why people choose this path. For example, they want to build their own financial freedom where they can create their own revenue instead of relying solely on their salary. Also, the access is wider now with how technology has improved a lot.
What to know more about this generation’s small business owners and entrepreneurs
Many people say that to become an entrepreneur or small business owner is so easy. However, the reality is not like that at all especially because you have to start from zero. Even though the access is easy, the competition becomes tough as well. Here are things you need to know more about small business owners and entrepreneurs of this generation:
Entrepreneurs are not going anywhere
It means entrepreneurs and small business owners are only getting started. The challenges given by the global pandemic last year doesn’t make entrepreneurs and small business owners disappear from the industry. Small business community keeps thriving with the growth of more ambitious sole proprietors, pre-revenue startups, as well as self-funded shops.
Small business owners and entrepreneurs come from all backgrounds
It is wrong to generalize small business owners and entrepreneurs based on one single background because in fact, they come from all backgrounds. Today, you can see people from different cultures are also in small business community. It means that small business and entrepreneurship belong to everyone who are willing to build their own success. Hence, it doesn’t matter what they come from because they share the same entrepreneurial goals.
Small business owners and entrepreneurs are self-reliant
It is true that this generation’s small business owners and entrepreneurs are mostly self-funded, self-driven, as well as self-sustaining. In the U.S alone, almost 90 percent of small businesses are sole proprietors or have at least 20 full-time employees. Instead of waiting for help from others, they prefer taking action themselves to move forward.
This generation’s doers are optimistic
Despite the global pandemic that hit 2020, 80 percent of small business owners and entrepreneurs believe that owning their business still outweigh the challenges the pandemic gave. They have put high hope for brighter future in 2021 with how vaccination is already started and global economy is predicted to recover soon.
This generation’s doers have their own way to success
It is true that this generation’s doers are more creative in finding their own best strategies and plans to improve efficiencies. They are more bold to take out of the box ideas into reality to make sure they can reach their entrepreneurial goals. They have big picture in their vision of the future. They reimagine small frames altogether to create innovation that is beyond the board. Being part of small business community and surrounded yourself with driven, self-reliant people will have positive impact on you.