How employable are entrepreneurs?
CareerExplorer rates entrepreneurs with a C employability rating, meaning this career should provide moderate employment opportunities for the foreseeable future.
Are entrepreneurs in demand?
Employment prospects for entrepreneurs are subjective and vary among industries and demographics. It is likely for this reason that the U.S. Bureau of Labor Statistics does not provide a specific job outlook for entrepreneurs, but does state that entrepreneurs are the driving force of a market economy. The reason they are a driving force is because they help establish a business, and then work to expand the business in hopes of earning more profits. This typically leads to increased employment of workers. A recent 2015 report by Global Entrepreneurship Monitor (GEM) finds that 27 million working-age Americans - nearly 14 percent - are starting or running new businesses. According to GEM, 24 percent of U.S. entrepreneurs expect to employ 20 or more people in the next five years. Inc.com notes, "Robert Litan, who has studied startup trends as a nonresident senior fellow at Brookings, is pleased to see numbers going in the right direction but more cautious about their significance. "This may be a canary in the coal mine about a potential reversal of the startup decline," he says."