The State of
in the U.S.
When COVID-19 hit, the world changed.
In 2020, we launched our first State of Entrepreneurship study to highlight the needs of
entrepreneurs across the country and better understand their outlook on the economy as a whole.
years later, amid a spate of new challenges, from inflation to a competitive job market, our
survey shows that innovators and small business owners have a bleaker outlook on the economy and
their shot at succeeding.
of entrepreneurs surveyed in 2022 don't think the U.S. economy is on the right track, up from 69% in 2020.
Today, entrepreneurs are
4 times more likely
to describe the
economy as “corrupt” and “inefficient”
rather than “inclusive.”
Two years ago,
just twice as likely
to describe the economy as “corrupt” rather than “inclusive,” “stable,” or “fair.”
ECO BIKE RENTALS
of entrepreneurs say their work is focused on creating change.
Does the state of entrepreneurship enable people to create impact and change?
depends on who you ask...
Women think that the economy is
not as inclusive, innovative, or fair
focus more on social challenges
compared to men.
say the economy is inclusive
compared to 68% of men.
Beyond the issue of gender equality, women are focused on:
of women say access to capital is based on race, ethnicity, or cultural background.
grants, no discrimination, and education
are keys to making it
less difficult to be an enterprising entrepreneur.
While racial equality declined as a key issue in American society today compared to 2022,
Black entrepreneurs remain focused on change and making the economy less racist
and more just.
THE STATE OF ENTREPRENEURSHIP for
of Black entrepreneurs say
racial equality is a key issue in American society
today compared to 27% of white entrepreneurs.
of Black entrepreneurs
say their work is focused on change
compared to 66% of white entrepreneurs.
of Black respondents say access to capital is based on race, ethnicity, or cultural background.
Black entrepreneurs say grants, no discrimination, and education are keys to making it less difficult to be an enterprising entrepreneur.
THE STATE OF ENTREPRENEURSHIP for
WITH NO GENERATIONAL WEALTH
Entrepreneurs say that
those that come from little to no wealth have less opportunities and no access to capital,
leaving them more likely to fail than those with wealth and strong business relationships.
Entrepreneurs with no generational wealth are
to say the economy is
on the right track
compared to those with generational wealth.
of those with no generational wealth say access to capital is based on race, ethnicity, or cultural background.
Respondents with no generational wealth also say grants, no discrimination, and education are keys to making it less difficult to be an enterprising entrepreneur.
The challenge is that entrepreneurs don’t believe all these kinds of support are evenly distributed in U.S. society and that who you are and access to relationships are the main factors that determine whether entrepreneurs can access the support they need.
ENTREPRENEURS NEED HELP
They know that relationships play a vital role in supporting and growing their business.
Positive outcomes from being in
relationship. Relational Wealth is necessary but not suricient.
Positive outcomes that emerge
from being in relationship.
By bringing these disparate groups together, it is possible to get them to see each other, so we can create relational and material wealth. We do this by focusing on the six C’s:
JOIN US IN:
WE CANNOT DO THIS ALONE
Investing in diverse entrepreneurs
through equitable access
to loans, grants, capital, and education.
Enabling people of color
to take the same risks that those with generational wealth are able to take.
the experiences of
and surround them with community
to drive deep, relational outcomes that grow their businesses and promote social justice.
Let’s work together in supporting all entrepreneurs to pursue their passions, grow thriving businesses, and create a more resilient economy that benefits people and protects the planet.