The Kauffman Foundation released a survey earlier this month on the Forbes website for would-be entrepreneurs, including questions such as: “What is your top reason for wanting to start a business?” and “What is your biggest obstacle to starting your own company?”
Both the large number of participants—more than 5,000—and the content of their responses indicate strong interest in pursuing entrepreneurship. The survey results also provide insight into why would-be entrepreneurs are holding off on starting their own businesses.
Interestingly, nearly half of respondents indicated that their “passion to be an entrepreneur” was their main reason for wanting to start a business, while only 1% cited difficulty finding a job as the primary motivating factor. When asked about the top five attributes that they needed to improve before starting a company, the most common response was “networking” (19%), followed by persuasiveness, market awareness, business knowledge, and self-discipline. Regarding what they saw as their biggest barriers in becoming an entrepreneur, the most common response was “financing,” (36%), closely followed by “knowing where to begin” and “fear of failing.”