Business: the practice of making one’s living by engaging in commerce.
Of the 15 reasons we why people start businesses, money is the one with very little to discuss, the very aim of a business is generally to make money so it is no shock that some entrepreneur start businesses to make money. What did stand out was that many people do not start a business specifically with money as the main driver.
We found 15 reasons why people start businesses.
For a look at the 15 reasons as well as the personality traits that are most commonly found in entrepreneurs please visit the full study here: Why people start businesses.
Business owners that told us they started their business with money on their mind.
Starting a business is the quickest way to economic independence, so that’s
exactly what I did. Now I can hire someone else to run my business and
receive passive income. I can sell my business. Or I can continue to build
the empire. Freedom is quite attractive.
Brian Robben, Robben Media
“To stop living from paycheque to paycheque and start living a life where my worry isn’t if I have enough money for groceries. Furthermore, to ensure my future generation doesn’t experience the financial hardship I did. “
Marcus Anwar, OhMy B.v (Marcus also exhibits Legacy as another core motivator.)
Before we started our brand naming business, we never knew there were people who made a living; naming businesses. And we had the skills. Hence we started our business to help entrepreneurs name their businesses and make money doing so.
John & Peter Paintcrown Adelakun, Thinkony
The primary reason was the realization that I can deliver better than what the industry was offering at that time. I filled a gap in the industry so why not sell the product instead of my abilities. Also, financial independence and the liberty to explore new ventures of AI were the driving forces.
Shahid Hanif, Shufti Pro
I started my business because the economy is unpredictable and the employment market is not as safe as it used to be. I realized with my own business, I make way more money than being an employee and have the freedom to operate the way I want.
Nabil Al-Baidhani, Sew Passion Inc