Because of the extensive media coverage of young tech entrepreneurs, most people think the average small business owner is a 20-something techie who needs a shower. But as the chart below shows, the median American small business owner is a bit over 50 years old.
Demographic Diversity Among Small Business Owners
The chart is from Babson College’s State of Small Business in 2016 study. It’s a comprehensive, 40-page report covering a variety of small business issues. The report focuses entirely on small businesses with employees. It does not cover independent workers (freelancers, etc.).
(For more SmallBusiness.com coverage of the Babson 2016 study, see: Highlights of Babson College Small Business in America Research)
(via: Small Business Labs)