The latest “Entrepreneurship in 2025″ report by Intuit QuickBooks looks at the entrepreneurial trends for the upcoming year — including how new businesses and set to grow and the effects of inflation on new business owners. The study surveyed 3,000 U.S. consumers aged 18 or older and fell into three self-identified categories business owners, former business owners and consumers who never owned a business.
A key trend the QuickBooks study authors found was consumers looking to build personal wealth through side hustles. While more than 64 percent of respondents said they’re “fairly satisfied” with their lives, 61 percent of respondents similarly agreed that earning more money would lead to more satisfaction.
Business owners are also looking to achieve monetary satisfaction — with 70 percent of them reporting that earning more money would “make their lives better,” as they’re more determined to build their wealth through entrepreneurial means such as growing their current business (44 percent) or taking on a side hustle (43 percent).
Moreover, 73 percent of respondent said they have plans to build their personal wealth in 2025 — through taking an additional job or side hustle (29 percent), contributing to retirement savings (29 percent) and earning income from financial investments (25 percent). Most notably, 54 percent of those polled said they’re thinking about starting a new business this year.
Despite the fact that many are considering a new business venture in 2025, 33 percent of people said the business will be a supplementary income to their other job while they pursue self-employment; many business owners said they love the autonomy they get but also value the stability in their regular income.
Relying on solely self-employment doesn’t look to be on the horizon for most business owners as a steady income, health care benefits and retirement security continue to be top-of-mind priorities.
While increasing revenue is the goal of 48 percent of business owners polled, inflation and rising costs of living continue to be a major hindrance over the past few years. To combat this, many business owners are turning to new ways to source products and materials, increasing product prices and services and diversifying their revenue streams.
And despite these economic woes, business owners refuse to scale back their growth plans — with 72 percent of them looking to invest or grow their business, especially within the e-commerce and online sales side. While a major number of business owners operate online in some capacity, many business owners reported that they interact with customers online or both in-person and online.
Social media is cited as a major growth driver for businesses, with low-cost marketing and brand awareness for new brands. This upcoming year, businesses will be doubling down on their social media marketing strategies with its cost-effective and extensive foothold, all in an effort to drive sales and reach a wider scope of audiences.
