A recent report from the Global Entrepreneurship Monitor has found that the percentage of Americans who are choosing to start or run a new business is on the rise throughout the United States. The report has also indicated that this trend is likely to continue into the future as a growing number of Americans view starting a business is a great opportunity for achieving financial success.

Growing Businesses

According to the Global Entrepreneurship Monitor, the percentage of Americans who are starting or running a new business increased by 14 percent last year, representing the highest percent of small business owners. The report further found that a total of 24 million Americans are involved in startup business activity in one capacity or another while, an additional 14 million are running businesses that have already been established.

In addition to building their personal wealth by starting these businesses, entrepreneurs are also bringing new employment opportunities to their business regions. In fact, the survey found that 24 percent of those who are starting or running a new business expect to hire 20 or more people in the next five years, this represents an increase of 8 percentage points when compared to 2013.

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For one community in particular, the Los Angeles startup scene has boomed since the trend of mobile phones. What was once parodied as Silicon Beach in the early 2000s, became the ideal and highly desirable community for small businesses. In addition to having a strong presence in the entertainment and advertisement industries, Los Angeles is best known for its creation of original content, a trend that audiences resonate with and are now shifting more towards.

Future Trends

In addition to seeing an increase in startups and small businesses for Los Angeles and throughout the United States, the Global Entrepreneurship Monitor report also found that 51 percent of Americans believe there are good opportunities available to them for starting a business. This outlook represents the highest these figures have been in 16 years. The fact that such a high percentage of business owners expect to hire 20 or more people in the next five years also indicates strong optimism for the future economy.

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This is not to say that everyone agrees to a startup business as a viable option. A study conducted by consulting firm Challenger, Gray & Christmas Inc. has found that fewer unemployed Americans are creating their own jobs by starting a business. During the first half of 2015, only 5.1 percent of those who were looking for a job chose to start their own business. This is down from the 5.5 percent that was reported during the same time last year. Therefore, while many Americans enjoy the idea of being their own boss, 95 percent of those who are between jobs are not choosing to start their own businesses. According to the

This trepidation to start a new business may be related to the fact that many people do not know someone who is an entrepreneur. The Global Entrepreneurship Monitor report found that only 29 percent of Americans know an entrepreneur, which is far below the 41 percent that was reported in 2001. This is only further proof that surrounding yourself by successful people will help increase your success as well.

There is so much that Los Angeles has to offer. As this community continues to grow into something more than it ever was, you can grow with it by looking to purchase your new home. Contact our team of luxury real estate experts today. We will be happy to help you find the neighborhood that is right for you.

Be sure to look into these properties below priced from $6 Million to $10 Million.

  1. 5 beds, 6 baths
    Home size: 7,500 sq ft
    Lot size: 8,376 sqft
  2. 5 beds, 6 baths
    Home size: 5,776 sq ft
    Lot size: 7,476 sqft
  3. 5 beds, 6 baths
    Home size: 7,030 sq ft
    Lot size: 11,215 sqft
  4. 0 beds, 0 bath
    Home size: 24,666 sq ft
    Lot size: 28,551 sqft
  5. 0 beds, 0 bath
    Home size: 14,832 sq ft
    Lot size: 22,496 sqft

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(all data current as of 11/22/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.