The American dream is alive and well, or so a study shows. Americans believe in themselves, and they want to turn that trust into creating their own job and doing so without anybody else’s help. There are various factors that led to this, as the study explains. Here are a few of the conclusions that would seem to show a bright future for entrepreneurship in the U.S.
The effects of the pandemic
The health crisis shook the world, throughout the last two years. Of course, it made people worry about their health even more than before, but it also showed that rules can change, at any point in time, according to what governments believe is the right course of action for its citizens. That includes closing industry sectors for weeks, even months, bringing companies to close down their doors, for lack of revenues. That, in turn, led to people losing their job. That particular effect has had a strong influence on Americans and has made them question their current state of employment. Or more precisely: Should they take their future into their own hands?
That is one of the elements the study took in account, and tried to analyze in depth. It asked: How did professionals, suddenly working from home, felt about going back to the office? It wondered how seeing other colleagues, who seemed to have steady positions lose their job, affected them. And finally, did Americans see this society change as an opportunity? And the answer indicates that it is so, for many.
What are the most important factors blocking individuals from going into business?
Starting a new business is not an easy task, and most people are fully aware of that. But they also understand that it is the only way they will take full control of their time and money. The study wanted to understand what would refrain someone, to actually taking the next step, and launching his own company. And this is what it found:
Factor One: People don’t have the necessary amount of money saved, in order to go through the time it takes, to launch a company.
Factor Two: Of those who were asked the question, nearly 20% answered that they did not have the idea that they believe could make them successful, yet.
Factor Three: Psychology is an important part of being an entrepreneur. It showed in the study as 13% of the respondents said they were afraid of a potential failure.
Self-realization rhymes with me not us
This might be one of the most revealing element, that the study has brought to life. Americans believe that they should enter into business by themselves, without any help from outside partners, including their spouse. In fact, only 36% of women were inclined to start a company with their husband, while the number was even lower for men, coming in at 26%. It would seem like theses new entrepreneurs do not wish to mix business and love. But both sexes agreed that the pandemic stimulated them into self-realization, and that their desire for permanent employment has gone down to an all time low.
Story by Travis Bard
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