New businesses are popping up every day. In fact, an estimated 550,000 open up each month just in the United States.
Of these businesses, approximately 60 percent are launched by men, but women aren’t far behind, launching businesses at six times the national average. Of these female entrepreneurs, African American women are the fastest growing demographic.
Unfortunately though, launching a business doesn’t equate to success. Three-fourths of new businesses only last a year. Your best bet is to open a business in finance, insurance or real estate, which have the highest survival rates in the country.
Don’t let that discourage you though. The world needs entrepreneurs and new businesses: They create jobs, offer new products and/or services, help the economy grow, boost communities and sometimes even spark social change.
To learn more about entrepreneurship in the U.S., check out Lance Surety Bonds’ infographic below.