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America Counts: Stories Behind the Numbers
Why Own a Business?
The United States has a storied legacy of business successes, from tycoons and titans of industry to Main Street “mom and pop” shops. What draws these people to business ownership and how do they succeed?
The top reasons cited by business owners, according to the 2023 U.S. Census Bureau’s Annual Business Survey (ABS): to make more money and be their own boss.
Surveyed in 2022, many respondents were first-time owners, had purchased or launched their business since the turn of the 21st century and the majority used financing to meet their operating expenses.
The ABS surveys employer businesses (those with at least one paid employee). It uses their responses to produce data on the who, what, where, when and why of American businesses and their owners.
Continue reading to learn more about our Annual Business Survey and people's motivations for owning a business.
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