Canadian software firm Wave Accounting has released its 2012 Small Business Report. The results of extensive research by Wave reveal that bad economies, such as the one much of the world is submerged in right now, offer at least silver lining: a significant boost in entrepreneurship and startups.
According to the report, 15% of small business owners launch their startup after finding themselves unemployed and unable to work. This number is lower in good economic times (9%) and higher in worse economic times (18%).
While the economy may influence entrepreneurship, the government doesn’t seem to. Just 2% of small business owners cite government incentives as a major decision to launch their own company.
And even though flexibility and time for family is one of the biggest reasons entrepreneurs launch startups, it’s actually that very same thing that most struggle with. 50% of small business owners started their company citing time flexibility as a main reason but 66% thereafter struggle with time management, work/life balance, or both.