| New, independent business created by a single person or a team | 92.7 |
|---|---|
| Purchase of an existing business | 4.9 |
| Purchase of a franchise | 2.2 |
| Other | 0.2 |
Sources:
sba.gov
| New, independent business created by a single person or a team | 92.7 |
|---|---|
| Purchase of an existing business | 4.9 |
| Purchase of a franchise | 2.2 |
| Other | 0.2 |
Business startups invigorate the economy by creating new ventures, providing jobs, and generating wealth. 40 percent of the startups in the sample were employer firms, and they provided more than 8,117 jobs. Most of the business startups were formed by a single person or team.