National Entrepreneur Month – Taking a Leap to Pursue Your Dream

Many people dream of starting their own business. What’s their motivation? According to Guidant Financial, 28% are ready to be their own boss. Others may take the leap due to dissatisfaction with corporate America, to pursue their own passion or simply because an opportunity has presented itself. What do they all have in common? They are entrepreneurs. These risk takers help drive economic development and innovation on many levels.

Entrepreneurial activities are nothing new. In fact, entrepreneurship dates back thousands of years centering around the exchange of goods. Today, the entrepreneurial spirit continues, and the rate of startups has been trending upwards for the past 19 years.

Each November, National Entrepreneur Month provides an opportunity to recognize the contributions of those bold innovators and risk takers. In the U.S., there are approximately 33 million small businesses employing 61.7 million people, totaling 46.4% of private sector employees. Small businesses have also accounted for 62.7% of net new job creation since 1995. On top of that, small businesses make up 43.5% of the gross domestic product stimulating economic growth.

In a recent survey, GenX (47.2%) and Baby Boomers (39.6%) are the majority of small business owners while millennials made up nearly 13%. While the generation gap is significant, millennial business owners increased by 6% in the past year.

In Volusia County, over 10,300 new business formations were registered with the IRS in 2022 – that’s a 52% increase from pre-pandemic levels. Those aspiring entrepreneurs need resources for their startups.

Through a collaborative effort of economic development partners, mentors, business associations, chambers of commerce, and trade organizations, the Volusia Business Resources (VBR) initiative was developed as a tool to help navigate entrepreneurs to the resources they need.

In addition to a resource directory, the VBR website includes a calendar of workshops, webinars and networking opportunities, and a library of practical step-by-step guides for creating a business plan, starting a business, and how to get your business certified.

Starting your entrepreneurial journey is a big leap, inevitably creating fear of failure and stepping out of your comfort zone. But through perseverance and executing a solid plan, the rewards can take you to new heights.

“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” – Henry Ford