{"id":4306,"date":"2020-08-05T15:28:06","date_gmt":"2020-08-05T19:28:06","guid":{"rendered":"https:\/\/allegrafranchise.com\/?p=4306"},"modified":"2020-08-05T15:28:06","modified_gmt":"2020-08-05T19:28:06","slug":"during-the-pandemic-entrepreneurs-still-cite-be-my-own-boss-as-the-prime-driver-of-business-ownership","status":"publish","type":"post","link":"https:\/\/www.allegramarketingprint.com\/franchise\/why-allegra\/industry-news\/during-the-pandemic-entrepreneurs-still-cite-be-my-own-boss-as-the-prime-driver-of-business-ownership\/","title":{"rendered":"During the Pandemic, Entrepreneurs Still Cite \u201cBe My Own Boss\u201d as the Prime Driver of Business Ownership"},"content":{"rendered":"\n<p>Has the COVID-19 Crisis changed why people pursue dreams of acquiring their own business? Not according to a recent article published by Franchise Insights titled \u201c<a href=\"https:\/\/www.franchiseinsights.com\/franchise-prospects\/be-my-own-boss-continues-to-rank-as-no-1-motivation-in-small-business-ownership-survey\/\" target=\"_blank\" rel=\"noopener noreferrer\">Be My Own Boss\u201d Continues to Rank as No. 1 Motivation in Small-Business Ownership Survey<\/a>.<\/p>\n\n\n\n<p>The article covered key findings in a \u201cTop Reasons For Owning A Business 2020\u201d survey conducted in the second quarter of this year:<\/p>\n\n\n\n<p>\u2022 <strong>\u201cBe my own boss\u201d<\/strong> was the No. 1 reason selected when respondents were asked, &#8220;Why do you want to own your own business?&#8221; Nearly nine of 10 people (88.4%) cited this motivation, which was the same response rate as in Q4 of 2019.<\/p>\n\n\n\n<p>What are the other prime motivators? Multiple choices were allowed:<\/p>\n\n\n\n<p>\u2022 Many entrepreneurs selected <strong>\u201cIncome potential\u201d<\/strong> as an additional reason. It ranked a strong No. 2 in the survey with 71% of the responses.<\/p>\n\n\n\n<p>\u2022 Cited by over half (54.8%) of survey participants, <strong>\u201cLifestyle rewards\u201d<\/strong> is the No. 3-ranked motive to own a business. These lifestyle rewards might include working from home, setting flexible hours or running a seasonal business.<\/p>\n\n\n\n<p>\u2022 Beginning a <strong>\u201cSide business to supplement income\u201d<\/strong> was also a powerful motivator, coming in at No. 4 with 48.9% of the responses. A significant number of entrepreneurs prefer part-time ownership or a side business as a less-risky path to starting up a new enterprise.<\/p>\n\n\n\n<p>\u2022 Another notable driver? <strong>\u201cTired of climbing the corporate ladder\u201d<\/strong> ranked at No. 5 with 36.9% of the responses. This finding affirms that many small-business and franchise owners bring a depth of outside professional experience to their new operations.<\/p>\n\n\n\n<p>The survey\u2019s No. 1 motivation mirrors the top one cited in June\u2019s <a href=\"https:\/\/www.franchiseinsights.com\/franchise-development\/covid-19-motivates-aspiring-franchisees-to-pursue-ownership-according-to-small-business-startup-sentiment-index\/\" target=\"_blank\" rel=\"noopener noreferrer\">Small Business Startup Sentiment Index\u2122<\/a>.<\/p>\n\n\n\n<p>This monthly survey covers individuals who have moved beyond initial research and contacted franchisors to further explore ownership. Many were not daunted by the challenges associate with the pandemic.<\/p>\n\n\n\n<p>When asked how does the emergence of COVID-19 affect your interest in business ownership?, 38.3% of people said it <strong>\u201cBoosts my interest in controlling my own destiny through business ownership.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Has the COVID-19 Crisis changed why people pursue dreams of acquiring their own business? Not according to a recent article published by Franchise Insights titled \u201cBe My Own Boss\u201d Continues to Rank as No. 1 Motivation in Small-Business Ownership Survey. The article covered key findings in a \u201cTop Reasons For Owning A Business 2020\u201d survey&hellip;<\/p>\n","protected":false},"author":2,"featured_media":4644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-4306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-starting-a-business"],"_links":{"self":[{"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/posts\/4306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/comments?post=4306"}],"version-history":[{"count":0,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/posts\/4306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/media\/4644"}],"wp:attachment":[{"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/media?parent=4306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/categories?post=4306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/tags?post=4306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}