With entrepreneurship expanding every day, advisors ought to know who they will be dealing with.
Percent of entrepreneurs who identified a desire to build wealth as an important motivation in becoming an entrepreneur: 75
Percent of entrepreneurs who are men: 65
The median age of entrepreneurs when they started their current companies: 40
Percent of entrepreneurs who came from extremely rich or extremely poor backgrounds: 1
Percent of entrepreneurs with advanced degrees: 47
Percent of entrepreneurs who ranked their academic performance in the top 10th of high school: 52
Percent of entrepreneurs with siblings who were also entrepreneurs: 15.2
The number of businesses launched by the average entrepreneur: 2.3
Source: Kauffman Foundation for Entrepreneurship
Percent of businesses in the U.S. defined as “emerging growth company” by the Jumpstart Our Business Startups Act: 100
Source: The Wall Street Journal
Probability, all else being equal, that a venture-capital-backed entrepreneur who succeeds in starting a company that has a IPO will succeed in his or her next venture: 30 percent
Probability that a first entrepreneur will: 18 percent
Source: Harvard Business School, “Performance Persistence in Entrepreneurship”
Of the 10 most recession-recovered cities in 2014, the number that are located in Texas: 6
State with the highest level of people (53 percent) who have rainy day funds: Arizona
Rank of New Hampshire among 50 states with the highest financial literacy: 1
Rate of unbanked households in New Hampshire, the state with the best record of banked residents: 1.9 percent
City with the lowest cost of living in the U.S.: Laredo, Texas
Source: WalletHub
Average annual net profit margin for U.S. private companies that filed financial statements in the second quarter of 2014, up 22 percent from 5.9 percent from the second quarter 2013: 7.2 percent
Source: Sageworks Private Company Indicator, Raleigh, N.C.