Guess who wants to quit their jobs?

As we first reported in 2018, large numbers of American workers are thinking about abandoning their full-time jobs in favor of self-employment. In our Third Annual Self-Employment Report, we estimate this number to be a staggering 24 million people. Such a shift, if realized will be profoundly consequential to the economy.

And yet, this year’s study also finds that only a fraction of these would-be small business owners have recently taken the plunge. Why the discrepancy?

Our third annual study digs deep into survey data from nearly 4,000 American workers to answer this and many other key questions regarding the self-employed economy. To review a summary of key findings from the report, see our press release.

Guess who wants to quit their jobs?

 
The Good News About How Much Money You Need to Start Your Business

It’s probably not as much as you think, according to this excerpt from Startup Money Made Easy, a new Inc. book.

In her new book, Startup Money Made Easy: The Inc. Guide to Every Financial Question About Starting, Running, and Growing Your Business (HarperCollins Leadership, Feb. 12), Inc. editor-at-large Maria Aspan provides practical advice along with plenty of examples of how successful entrepreneurs handle their money. The following is an edited excerpt.

So you want to start a business. You’ve got the idea, you’re ready to hustle, but how much money do you need to launch your startup?

The good news: Probably not as much as you think. Ten years ago, the average cost of starting a small business was $31,150, according to one study. But that seems laughably large today: While some businesses still require lots of money to get off the ground, at Inc., we regularly hear from founders of fast-growing companies who started their businesses for hundreds, not thousands, of dollars.

“Today a smart entrepreneur with a website can start making in six months what we were making after six years,” says Bert Jacobs, co-founder of the apparel company Life Is Good.

The Good News About How Much Money You Need to Start Your Business