by Rafael Peña
April 11, 2024
The number of entrepreneurs starting small and medium-sized enterprises has increased significantly while suppressing other employment.
recent reports entrepreneur It has been revealed that there has been a significant increase in the number of entrepreneurs starting small businesses while suppressing other employment.
According to a study conducted by payroll company Gusto, the prevalence of new businesses starting as side jobs almost doubled from 2022 to the following year. Liz Wilke, chief economist at Gusto, told Bloomberg that the surge in side jobs is due to economic uncertainty. ”
Mr. Wilk also highlighted the impact of hybrid and remote work arrangements, suggesting that the flexibility afforded by these arrangements gives individuals time and space to explore their entrepreneurial aspirations. .
“I do not think so [AI is] It explains everything about the jump,” Wilk said. FOX business. “But even if I hadn’t actually used generative AI tools to cut down on a lot of the time that side businesses need at the start of a business where they’re just trying to promote their brand. You won’t be surprised. Build a reputation and a source of income.”
The survey of 1,345 business executives found that 44% of new businesses in the U.S. were started as side projects in 2023, a significant increase from the 27% reported in 2022. Notable parts of respondents, 25% indicated: They maintained a full-time job while pursuing an entrepreneurial journey, with 19% juggling their new venture with part-time employment.
The advent of generative AI tools, such as OpenAI’s ChatGPT, has made starting a business even easier, allowing entrepreneurs to accelerate product development and streamline their operations. The study revealed that more than 20% of startups are leveraging generative AI tools primarily for marketing purposes.
As recently reported, black companiesAtlanta has been named the top city to start a business in 2024.
Jamie Seal, author of 2024 Data: What Are the Best Cities to Start a Business? Atlanta has significantly improved its status as an entrepreneurial hub in recent years. Seal suggested that Atlanta has risen to a more prominent position from its previous ranking of No. 5, which was behind Las Vegas.
HomeBay, which conducted the survey, cited Atlanta, Miami, Orlando, Tampa (all in Florida), and Austin, Texas as cities with the most startups. Conversely, this study identified Providence, Rhode Island. Hartford, Connecticut. Buffalo, New York. Milwaukee, Wisconsin. Louisville, Kentucky ranks as the most unfavorable environment for new business.
