[ad_1]
Editor’s Word: This story initially appeared on Commodity.com.
Self-employed entrepreneurs account for 10% of all employees, in accordance with 2020 information from the U.S. Census Bureau. However whether or not born out of necessity or want, an rising variety of employees are taking the plunge and beginning their very own companies within the wake of the COVID-19 pandemic.
After an preliminary drop in new enterprise functions in early 2020, month-to-month enterprise functions soared to report ranges. The latest information exhibits that functions stay considerably larger than they have been a couple of years in the past.
The latest escalation in new enterprise formation is because of a number of elements. First, as many companies in the reduction of operations or shut their doorways fully, a wave of newly-unemployed employees opened their very own companies in response.
Moreover, a mix of enterprise closures, provide chain issues, and altering shopper preferences created area out there for brand spanking new sorts of companies to enter. Give up charges additionally reached report ranges in latest months, as many employees have been pushed by the pandemic to reassess their careers and begin one thing of their very own.
In whole, new enterprise functions elevated by practically 25% within the first yr of the pandemic. However practically a 3rd of all functions have been concentrated in two sectors: retail commerce {and professional}, scientific, and technical providers.
To seek out the metropolitan areas with essentially the most entrepreneurs, researchers at Commodity.com analyzed information from the U.S. Census Bureau. The researchers ranked metros in accordance with the proportion of employees who’re enterprise homeowners.
Researchers additionally calculated the entire variety of enterprise homeowners, the entire variety of new enterprise functions in 2020, the median annual revenue for full-time enterprise homeowners, and the median annual revenue for all full-time employees.
Listed here are the metropolitan areas with essentially the most entrepreneurs.
15. Little Rock-North Little Rock-Conway, AR
Share of employees who’re enterprise homeowners: 11.3%
Whole variety of enterprise homeowners: 36,315
Whole variety of new enterprise functions in 2020: 11,132
Median annual revenue for full-time enterprise homeowners: $45,000
Median annual revenue for all full-time employees: $48,000
14. Lancaster, PA
Share of employees who’re enterprise homeowners: 11.5%
Whole variety of enterprise homeowners: 31,500
Whole variety of new enterprise functions in 2020: 3,919
Median annual revenue for full-time enterprise homeowners: $60,000
Median annual revenue for all full-time employees: $54,000
13. Lafayette, LA
Share of employees who’re enterprise homeowners: 11.7%
Whole variety of enterprise homeowners: 27,264
Whole variety of new enterprise functions in 2020: 7,620
Median annual revenue for full-time enterprise homeowners: $50,000
Median annual revenue for all full-time employees: $48,000
12. Charleston-North Charleston, SC
Share of employees who’re enterprise homeowners: 11.8%
Whole variety of enterprise homeowners: 47,614
Whole variety of new enterprise functions in 2020: 14,359
Median annual revenue for full-time enterprise homeowners: $65,000
Median annual revenue for all full-time employees: $50,000
11. Austin-Spherical Rock, TX
Share of employees who’re enterprise homeowners: 11.8%
Whole variety of enterprise homeowners: 143,075
Whole variety of new enterprise functions in 2020: 34,716
Median annual revenue for full-time enterprise homeowners: $65,100
Median annual revenue for all full-time employees: $60,000
10. Oxnard-Thousand Oaks-Ventura, CA
Share of employees who’re enterprise homeowners: 12.1%
Whole variety of enterprise homeowners: 47,947
Whole variety of new enterprise functions in 2020: 6,898
Median annual revenue for full-time enterprise homeowners: $70,000
Median annual revenue for all full-time employees: $60,200
9. Bridgeport-Stamford-Norwalk, CT
Share of employees who’re enterprise homeowners: 12.2%
Whole variety of enterprise homeowners: 57,354
Whole variety of new enterprise functions in 2020: 13,873
Median annual revenue for full-time enterprise homeowners: $74,000
Median annual revenue for all full-time employees: $77,000
8. New Orleans-Metairie, LA
Share of employees who’re enterprise homeowners: 12.3%
Whole variety of enterprise homeowners: 68,738
Whole variety of new enterprise functions in 2020: 29,830
Median annual revenue for full-time enterprise homeowners: $50,000
Median annual revenue for all full-time employees: $50,000
7. Los Angeles-Lengthy Seaside-Anaheim, CA
Share of employees who’re enterprise homeowners: 12.3%
Whole variety of enterprise homeowners: 766,024
Whole variety of new enterprise functions in 2020: 198,477
Median annual revenue for full-time enterprise homeowners: $52,000
Median annual revenue for all full-time employees: $55,000
6. McAllen-Edinburg-Mission, TX
Share of employees who’re enterprise homeowners: 12.8%
Whole variety of enterprise homeowners: 41,838
Whole variety of new enterprise functions in 2020: 6,188
Median annual revenue for full-time enterprise homeowners: $30,000
Median annual revenue for all full-time employees: $36,600
5. Cape Coral-Fort Myers, FL
Share of employees who’re enterprise homeowners: 12.8%
Whole variety of enterprise homeowners: 44,029
Whole variety of new enterprise functions in 2020: 13,000
Median annual revenue for full-time enterprise homeowners: $55,000
Median annual revenue for all full-time employees: $45,000
4. Deltona-Daytona Seaside-Ormond Seaside, FL
Share of employees who’re enterprise homeowners: 13.0%
Whole variety of enterprise homeowners: 35,668
Whole variety of new enterprise functions in 2020: 10,271
Median annual revenue for full-time enterprise homeowners: $51,000
Median annual revenue for all full-time employees: $45,000
3. Asheville, NC
Share of employees who’re enterprise homeowners: 13.4%
Whole variety of enterprise homeowners: 31,283
Whole variety of new enterprise functions in 2020: 4,810
Median annual revenue for full-time enterprise homeowners: $42,250
Median annual revenue for all full-time employees: $42,250
2. Miami-Fort Lauderdale-West Palm Seaside, FL
Share of employees who’re enterprise homeowners: 14.7%
Whole variety of enterprise homeowners: 439,795
Whole variety of new enterprise functions in 2020: 217,834
Median annual revenue for full-time enterprise homeowners: $41,000
Median annual revenue for all full-time employees: $45,000
1. North Port-Sarasota-Bradenton, FL
Share of employees who’re enterprise homeowners: 16.4%
Whole variety of enterprise homeowners: 56,259
Whole variety of new enterprise functions in 2020: 13,328
Median annual revenue for full-time enterprise homeowners: $50,000
Median annual revenue for all full-time employees: $52,000
Methodology
To seek out the metropolitan areas with essentially the most entrepreneurs, researchers at Commodity.com analyzed information from the U.S. Census Bureau’s 2020 American Group Survey Public Use Microdata Pattern and Enterprise Formation Statistics. The researchers ranked metros in accordance with the proportion of employees who’re enterprise homeowners. Within the occasion of a tie, the metro with the bigger whole variety of enterprise homeowners was ranked larger.
Researchers additionally calculated the entire variety of new enterprise functions in 2020, median annual revenue for full-time enterprise homeowners, and median annual revenue for all full-time employees.
Enterprise homeowners are outlined as self-employed employees who’ve their very own included or unincorporated companies. Solely the 100 most populous metro areas have been included within the evaluation.
Disclosure: The knowledge you learn right here is at all times goal. Nevertheless, we typically obtain compensation while you click on hyperlinks inside our tales.
[ad_2]
Source link
