What is the average age of a small business entrepreneur?

46% of small business entrepreneurs are between the ages of 41 and 56. There are 582 million entrepreneurs in the world. 20% of small businesses fail within the first year. Studies show middle-aged men start the most successful businesses. 90% of new American billionaires are self-made. (Forbes,Forbes)

Why is entrepreneurship important?

An entrepreneur plays a vital role in driving the economy forward. Our collection of entrepreneurship facts below shows that they bring new ideas and products into the market using their skills and personal drive. The entrepreneur sets up a business, bears the most risks, and enjoys rewards accordingly.

Which age group is most involved in entrepreneurship?

People above 70 only account for 4% while people between ages 60-69 make up 18%. Self-employed entrepreneurs between 30-39 years old are estimated at 14%, while 40-to 49-year-olds have a 25% presence in entrepreneurship. 18-29-year-olds only have a 4% representation in small business ownership.