Every year, around a million new businesses spring up across the United States. But what inspires people in America to dive into entrepreneurship? OnDeck looked into this using data from the latest Annual Business Survey by the U.S. Census Bureau. They focused on the reasons local business owners considered ‘very important’ and used a unique method to pinpoint the most popular reason in each state and metro area.
Some interesting highlights from their study show that in 14 states, including Texas, Florida, and Nevada, the main motivation for starting a business is the desire to earn more money. In New York and Delaware, the primary reason folks start a business is because they couldn’t find a job. On the East Coast, many business owners are driven by family ties, whether it’s continuing a family business or following in the footsteps of a role model. On the West Coast, entrepreneurs tend to be motivated by family duties and the freedom to set their own work schedules. For entrepreneurs in metro areas like Chicago, Dallas, Houston, Philadelphia, and Phoenix, the main motivation is boosting their income.
