It's no secret that small businesses are the engine that drives the U.S. economy. The entrepreneurs who start small businesses must match a great product or service with salespeople and marketing campaigns in order to succeed. But who are these entrepreneurs?
Check out the findings from the 2008 Kauffman Index of Entrepreneurial Activity study on this topic to get a glimpse of who is starting new businesses and where.
Industries with the highest rate of entrepreneurial activity in 2008:
- Construction industry
- Services industry
States with the highest rates of entrepreneurial activity:
- New Mexico
Demographic groups that skew higher than average when it comes to starting their own businesses:
- Immigrants — especially Latino and Asian American
- Individuals who are between 55 and 64 years old
- Individuals who do not have a four-year college degree
Understanding the entrepreneurial demographic may help your agency win new business. Check out the complete details on new business activity in your state and use this information to plan who you'll target with your fresh ideas on effective marketing campaigns.[Source: 2008 Kauffman Index of Entrepreneurial Activity, April 2009]