The pursuit of flexible work opportunities is one of the biggest factors influencing many people’s decision on whether they should launch a small business in the U.S.
A recent Amex Trendex report shows 44% of small business owners turned to entrepreneurship because they “needed more flexible work.”
Notably, the report, which surveyed 1,127 U.S. small business financial decisionmakers, found 74% of Gen-X and Boomer small business owners had a traditional job or another role in their current business before starting their company.
Millennials and Gen-Z are more divided, with a higher likelihood of starting their businesses immediately out of school.
“About six-in-ten (59%) of Millennials and Gen-Zers surveyed had a traditional job before starting their business, but one-in-five (20%) Millennial and Gen-Z small business owners indicated they were students or unemployed before starting their business (vs. 3% of Gen-Xers and Boomers),” the survey reveals.