Majority of Americans Aspire to Entrepreneurship but Face Significant Barriers
A Gallup survey from June reveals that 62% of U.S. adults desire to be their own boss. However, actual entrepreneurship rates are much lower, with just 36.2 million small businesses serving a population of approximately 258.3 million adults, according to the Small Business Administration and U.S. Census Bureau data.
While the appeal of entrepreneurship lies in autonomy and flexible hours, the reality involves long workweeks, securing funding, attracting customers, and achieving sustainable income.
Financial Concerns Often Delay Business Launches
In a recent informal survey conducted by CNBC Make It on Instagram, respondents cited finances as a top barrier to starting a business. Brian Moran, a marketing and SMB expert with over a decade of experience, cautions against waiting to accumulate a “perfect” savings buffer before starting. He advises aspiring entrepreneurs to target a safety net covering six months of combined personal and business expenses.
If saving for six months is unattainable, Moran suggests aiming for a smaller buffer, such as two to three months, and adjusting timelines accordingly. Testing business concepts through side hustles during evenings or weekends can validate income potential without risking primary employment.
Additionally, billionaire investor Mark Cuban recommends focusing on service-based ventures like consulting or graphic design, which require lower startup costs and leverage existing skills.
Building Foundational Business Knowledge Is Crucial
Moran emphasizes the importance of establishing a clear business structure before leaving traditional employment. Entrepreneurs should be able to succinctly define their target customers, the problem their offering solves, and their competitive advantage.
Developing relationships with potential customers and seeking mentorship from experienced entrepreneurs can accelerate learning and improve business viability. Moran notes that engaging with mentors or peer groups can significantly shorten the entrepreneurial learning curve.
Managing Fear of Failure Through Preparation and Resilience
Fear of failure is a common psychological barrier. Barbara Corcoran, founder of The Corcoran Group, stresses that confronting this fear by taking decisive action is essential. While fear may not completely vanish, it should not inhibit decision-making.
Moran adds that thorough preparation equips entrepreneurs to handle setbacks effectively, reinforcing that passion initiates a business but preparation sustains it.
Additional Resources for Aspiring Entrepreneurs
For those ready to embark on entrepreneurship, CNBC Make It offers an online course titled How to Start a Business: For First-Time Founders, providing step-by-step guidance from idea validation to revenue growth. An introductory 30% discount is available through September 30, 2025, with coupon code EARLYBIRD.
Interested individuals can also subscribe to CNBC Make It’s newsletter for ongoing career, financial, and personal success tips, and join their LinkedIn community to connect with experts and peers.
FinOracleAI — Market View
This article highlights persistent challenges in U.S. entrepreneurship, including financial constraints and psychological barriers, which limit the transition from aspiration to action for many adults. Expert advice focusing on realistic financial planning, practical skill utilization, and mentorship may encourage more individuals to pursue business ownership.
While the immediate market impact is neutral, increased entrepreneurial activity could foster small business growth over time, influencing job creation and innovation. Key risks include economic downturns that could exacerbate financial hurdles for startups. Observers should monitor shifts in small business formation rates and access to entrepreneurial education resources.
Impact: neutral
