While there are multiple reasons to own a small business, most firm owners cite wanting to be their own boss and making more money as important reasons for owning their own business. Self-employment is mostly driven by opportunity, with 56% of owners with employees saying that starting a business was the best avenue to make their own products. The top reason for women to become a business owner was work and family balance. The reasons to own a business have not changed much over time, with data from 2019 matching that from 2014.
For more, read “Small Business Facts: Reasons for Running a Business.”