November is National Entrepreneurship Month, which celebrates our country's entrepreneurs who create jobs, spur growth, and push forward with innovation. The United States remains the world's strongest market for entrepreneurship. This is largely due to unparalleled access to research and capital, favorable public policy, and perhaps most importantly, a business culture that encourages both risk and creativity.
History of National Entrepreneurship Month
In 2011, President Obama designated November as National Entrepreneurship Month. The following year, November 6th was declared National Entrepreneurs' Day. Although Entrepreneurs' Day was officially a one-off, it is celebrated informally every third Tuesday of November. National Entrepreneurship Month has been formally declared via Presidential Proclamation every year since 2011.
The Profile of an Entrepreneur
What do you think of when you hear the world "entrepreneur?" Most people envision the stereotypical young, highly visible Silicon Valley founder. It might surprise you to learn that most entrepreneurs are more Main Street than Wall Street. 99.9% of American businesses are classified as small, more than half of small business owners are over the age of 50, and some of the most startup-friendly states are in the Heartland rather than on the coasts.
Although equal representation has historically been an issue with business ownership, the gaps are steadily closing; 42% of American businesses are owned by women and 39% are owned by people of color. There's no singular profile for an average entrepreneur. Entrepreneurship is becoming increasingly democratized, and small business owners come from all walks of life.
Funding Your Entrepreneurial Dreams
The entry barriers to entrepreneurship might not be as high as you think. We're here to help you achieve your dream of owning your own business, and we're fully dedicated to helping you obtain the capital needed to do so. If you're ready to explore funding options, you can get started here.
Just as there's no singular representation of an average entrepreneur, there is no one-size-fits-all solution to funding new businesses. That's why we work closely with current and prospective business owners to put together financing packages that meet their unique needs. In addition to celebrating our country's entrepreneurs, we also look forward to helping create new entrepreneurs for many years to come.
Happy National Entrepreneurship Month!