Money-Smart Solopreneur

According to the Small Business Administration, 80 percent of small businesses have no employees. The number of non-employer companies has increased from 15.4 million in 1997 to 24.3 million in 2015. More than 60 percent of these “solopreneurs” are home-based, as are 23 percent of small employers. Demographic data from Small Business Trends also shows that 78 percent of new entrepreneurs are over age 40, most (73 percent) are male, and 77 percent finance their venture with personal funds.