{"id":7034,"date":"2024-03-12T18:05:44","date_gmt":"2024-03-12T22:05:44","guid":{"rendered":"https:\/\/pagely-test.frontdoor.godaddy.com\/ventureforward\/?p=7034"},"modified":"2024-03-22T13:44:55","modified_gmt":"2024-03-22T17:44:55","slug":"u-s-entrepreneurs-skew-older-than-counterparts-in-the-u-k","status":"publish","type":"post","link":"https:\/\/www.godaddy.com\/research\/u-s-entrepreneurs-skew-older-than-counterparts-in-the-u-k\/","title":{"rendered":"US entrepreneurs skew older than counterparts in the UK"},"content":{"rendered":"\n

The big fact<\/strong><\/h4>\n\n\n\n

Microbusiness owners in the U.S. skew older than those in the U.K. In the U.S., 63% of microbusiness entrepreneurs are Generation X (age 40-54) or baby boomers (age 55+), compared to 49% in the U.K., where millennials (age 25-39) take the lead. <\/p>\n\n\n\n

Older generations make more in the U.S.<\/strong><\/h4>\n\n\n\n

One in six microbusiness owners from all generations earn over $100K or \u00a3180K, but the breakdown in age groups differs between the U.S. and U.K.<\/p>\n\n\n\n

In the U.S., the older the microbusiness owner, the more they make, compared to the U.K., where earnings are more evenly split among age groups. In the U.S., 60% of Gen X and 62% of baby boomers earn over $100K, while 25-26% of Generation Z, Gen X and baby boomers from the U.K. report revenue over \u00a3180K.<\/p>\n\n\n\n

\"Two<\/figure>\n\n\n\n

More money, less optimism<\/strong><\/h4>\n\n\n\n

Despite being the highest earners, baby boomers in the U.S. report less optimism about their overall expectation for their business during the next six months, with only 65% indicating a positive outlook, compared to 77% of Gen Z respondents.<\/p>\n\n\n\n

Additionally, entrepreneurs who generate significantly more revenue, particularly those with over $600K or \u00a3500K, reported higher levels of stress, anxiety and burnout.<\/p>\n\n\n\n

Younger generations may be more entrepreneurial<\/strong><\/h4>\n\n\n\n

Not only is Gen Z the most optimistic group of microbusiness owners in the U.S., but they may also be the most entrepreneurial. 37% of Gen Z in the U.S. always dreamed of starting their own businesses, versus the 22% of Gen X and 15% of baby boomers, according to Venture Forward data<\/a>. A recent study<\/a> revealed that 50% of Gen Z aspire to become an entrepreneur.<\/p>\n\n\n\n

And, in the U.S., 75% of Gen Z hope to turn their microbusiness into their primary source of income, compared to 58% of baby boomers, who often start a side business after retirement or continue one as a hobby.<\/p>\n\n\n\n

The research<\/strong><\/h4>\n\n\n\n

GoDaddy’s Venture Forward<\/a> research initiative analyzes more than 20 million online businesses with a digital presence (measured by a unique domain and an active website). Most of these businesses employ fewer than ten people, categorizing each as a microbusiness. While these microbusinesses may be small, their impact on economies is outsized even though they are often too informal or too new to show up in traditional government statistics. <\/p>\n\n\n\n

Since 2018, Venture Forward surveyed more than 36,000 small business owners with a digital presence, making it the source for microbusiness data and insights. <\/p>\n","protected":false},"excerpt":{"rendered":"

Microbusiness owners in the U.S. skew older than those in the U.K.<\/p>\n","protected":false},"author":15,"featured_media":7328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-7034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-forward"],"acf":[],"yoast_head":"\nUS entrepreneurs skew older than counterparts in the UK - Small Business Research Lab<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.godaddy.com\/research\/u-s-entrepreneurs-skew-older-than-counterparts-in-the-u-k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US entrepreneurs skew older than counterparts in the UK - 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