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The newest entrepreneurs are both young and old and looking to grow their wealth through their businesses. The share of new Hispanic entrepreneurs rose from 8% in 2022 to 13% in 2023, Gusto found. Many new entrepreneurs are open to using AI tools and hiring remote workers, per the Gusto survey. The share of entrepreneurs who started a business while juggling another gig rose from 27% in 2022 to 44% in 2023. The Babson report found that most US entrepreneurs, 71%, were motivated by the prospect of boosting their wealth through their businesses.
Persons: They're, , Ewing Marion, Luke Pardue, Babson, Entrepreneurship isn't Organizations: Service, Bureau of Labor Statistics, Babson College, Midwest Women, Pew Research Center, Ewing Marion Kauffman Foundation, Bureau, Kauffman Foundation, Entrepreneurs, Business Administration, Entrepreneurship Locations: Midwest, New Hampshire, Minnesota, Montana, Northeast, West
Manu Muraro started offering freelance marketing services when she was laid off in 2016. She turned those services into Your Social Team, which offers social-media templates and coaching. Muraro started her career as a producer and creative manager at Cartoon Network before landing a job as a marketing director at a local startup. When she was laid off in 2016, Muraro tapped her experience to launch Your Social Team, a company that sells social-media templates and coaches social-media managers. Since then, she's grown her company to more than $70,000 in average monthly revenue, documents seen by Insider showed.
If you have the skills, the right freelance job could support you and your business. Managing social media accounts, copyediting, and virtual assisting are among the top 15 gigs. Below are the 15 highest-paying freelance side hustles and the average hourly Upwork rates, according to the platform. Social media manager, $14 to 457. Entrepreneurship is glamorized through social media and pop culture, but the reality often involves working long hours, earning irregular pay, and experiencing intense pressure.
Princess EtchBefore the pandemic, Labowitch made a chunk of her income teaching in-person classes and workshops. "I immediately lost a number of jobs, and the number of email correspondents I had about promising projects just disappeared. Labowitch initially started showcasing her art on Myspace in 2007, but most recently, she amped up her TikTok presence by doing live streams of her drawing process. And I developed this whole new, really passionate fan base of people who just really wanted to support me and my business." "If there's anything that I would recommend any entrepreneur indulge in and splurge on, it's an accountant," Labowitch says.
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