The Amway Global Entrepreneurship Report (AGER) has found that Americans are increasingly upbeat about entrepreneurship—with 62% positive about business ownership in 2014, an increase of 6% over 2013. And, according to #AGER2014, two in five Americans can imagine starting a business of their own—what we call “entrepreneurial potential.”
It appears that this potential is starting to pay off.
The Global Entrepreneurship Monitor (GEM) just released findings that entrepreneurial activity is at an all-time high in the U.S., with 24 million people—14% of the U.S. working age population—either starting or running independent businesses. This is the highest level since 1999, when Babson College and Baruch College began issuing the report on entrepreneurial activity in the states.
And these entrepreneurs are bullish about the future: 20% expected to employ six or more people and 24% anticipated having a staff of more than 20 employees within five years.
The real payoff for the rise in business ownership in the U.S. comes for the cities and towns in which these entrepreneurs hire employees, spend on services and give to local organizations. Because of this, creating more entrepreneurs not only generates economic growth, it also contributes to stronger communities.
Amway continues to track attitudes toward entrepreneurship and entrepreneurship potential in the U.S. and 43 other markets and will release AGER 2015 findings in November. If the rising number of entrepreneurs is any indication, Americans will continue to be positive about business ownership.