TECHNOLOGY

More Americans Than Ever Have a Small Business, a Side Hustle or Both

more-americans-than-ever-have-a-small-business

A new survey from Index by Pinger reveals that 67% of Americans have a small business, or do a side hustle or freelance work. And 75% of these respondents also work as an employee for another organization. The survey also revealed another 17% plan to start a business, side hustle or take on freelance work in the future.

“It’s really not surprising,” said Inc. Magazine small business columnist and best-selling author Steve Strauss. “The economy is one motivation for sure. But it’s also never been easier or more affordable to start a business or side hustle.”

The top reasons cited for starting their business, including side hustling and freelancing: 80% did it to increase their income, while 40% said they wanted to learn a new skill, and 30% said they wanted to be their own boss.

“This data shows that the American entrepreneur is alive and well, even in an uncertain world,” said Greg Woock, CEO of Pinger. “We have huge respect for anyone with the courage to choose their own path as a small business owner and we are committed to supporting them with innovative communication tools.”

Additional Findings

  • 62% say they work more than 20 hours a week on their microbusiness.
  • 63% hope their small business, freelance work or side hustle will become their full-time or “real” job.
  • Of the respondents who do not currently run a microbusiness, 49% said they would be willing to work hard at a side hustle “as long as I love the work.
  • ”When asked what advice they received about business, respondents’ answers ranged from the practical (“Be persistent.” “Charge what you’re worth.” “It’s all wishful thinking until you get paid.”) to the downright silly (“The best way to double your money is to fold it over and put it into your wallet.”).

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