Entrepreneur Salary (April 2024) - Zippia (2024)

FAQs

How many entrepreneurs are there in the US? ›

According to the Global Entrepreneurship Monitor, there are 31 million entrepreneurs in the U.S., which is about 16% of the adult workforce.

The latest data shows that more than half (59%) of all American entrepreneurs were men. As for race/ethnicity, white people made up 71% of the entrepreneur workforce in America, followed by Hispanics/Latinos (14%), Black/African Americans (6%), and Asians (6%).

The typical salary range for a small business owner is between $83,178 to $126,515. By comparison, the average wage index for Americans overall is about $63,795, according to 2022 data from the National Average Wage Index.

Here's the truth they don't teach in college: 88% of millionaires are entrepreneurs. You likely won't get wealthy putting money into a savings account or buying index funds.

20% of new businesses fail within the first two years. 45% of new business startups don't survive the fifth year. 65% of new startups fail during the first ten years.

According to the Kauffman Foundation, only 6% of all entrepreneurs ever achieve 6-figure business success, only 2% ever achieve 7-figure success and more than 50% of all business owners never exceed $25,000 each year. Why do you think that is? Mindset, Market, and Message.

As of Jun 4, 2024, the average annual pay for an Entry Level Entrepreneur in California is $46,057 a year. Just in case you need a simple salary calculator, that works out to be approximately $22.14 an hour. This is the equivalent of $885/week or $3,838/month.

The average age of entrepreneurs across the 50 largest U.S metros is 36.40. That's down from 40.20 when we last examined this topic in 2021.

What age group is the most entrepreneurial? ›

We found that the average age of the most successful entrepreneurs is 45 – and that founders in their 20s are the least likely to build a top firm.

Some tax professionals recommend paying yourself 60 percent in salary and 40 percent in dividends to stay clear of IRS problems unless this means your salary would be too low compared to others in your field.

If your business is established and profitable, pay yourself a regular salary equal to a percentage of your average monthly profit. Don't set your monthly salary to an amount that may stress your company's finances at any point.

Business owners have higher incomes

In fact, the Federal Reserve reported a mean income of $173,200 for families who own a business without any employees, and a mean income of $617,000 for families who own a business with five or more employees. For families who do not own a business, their mean income is $105,500.

This statistic shows the rate of new entrepreneurial activity per 100,000 adults in the United States from 2000 to 2021. In 2021, the rate of new entrepreneurs in the U.S. was 0.36 percent, or 360 individuals per 100,000 adults.

New research has revealed the most entrepreneurial states, with Oregon topping the list. The study, conducted by QRFY, analyzed data from the US Bureau of Labor statistics to find the number of new businesses in 2022 compared to 2023; each state was ranked according to the difference rate.

A sample of the Statistics in this article: The USA has approximately 33.2 million businesses in 2024. 99.9% (31.7 million) of all businesses are small businesses. There are 20,000 large corporations in the USA (>500 employees)

Established business ownership rate in North America, by country 2023. In 2023, seven percent of the adult population in the United States and eight percent in Canada were owning and running an established business.