In recent years, entrepreneurship has become increasingly popular for a variety of reasons.
One reason for the popularity of entrepreneurship is the rise of the gig economy. With the advent of platforms like Uber and Airbnb, it has become easier than ever for people to start a “side hustle” and earn money. This has made a very basic form of entrepreneurship a viable option for many people who might otherwise be stuck in traditional jobs with limited opportunities for growth and advancement. This kind of freelancing can be a drain on your personal energy, though, and if you’re not careful to watch your expense numbers, it may not provide the sort of financial freedom you’re looking for.
Another reason for the popularity of entrepreneurship is the increasing availability of resources and support for aspiring entrepreneurs. In the past, starting a business was a daunting task that required a significant amount of capital and know-how. Today, however, there are countless organizations, programs, and communities that offer support and guidance to people who want to start their own businesses. The tools for creating a business have become significantly cheaper as well. Where once you may have needed a large number of people and an office, now you can have software handle mundane tasks and you can (sometimes) work from a home office. This has made it possible for people with limited experience and resources to get started.
Entrepreneurship is also increasing because of the potential for personal and professional growth. Many people are drawn to entrepreneurship because it can allow them to pursue their passions and create something meaningful. In addition, entrepreneurship offers the potential for significant financial rewards, particularly for those who are successful. More to the point, it allows you to be your own boss. The flip side of that, of course, is that while you own all your success, you own all your failure too, and that can be scary for a lot of people.
Finally, there is the changing nature of the workforce. In the past, most people followed a traditional career path, working for a single employer for many years and then retiring. Today, however, the workforce is much more dynamic and flexible, providing you with a lot more variety… but it’s also precarious. One of the reasons why people stayed in the same career in decades gone by is that they could have a reasonable expectation of security and at least a semblance of loyalty from the employer. Not so much any more. Indeed, in the United States, the relationship between employer and employee is arguably at an all-time low. As a result, many people are choosing to pursue entrepreneurship as a way to take control of their careers and determine their own paths.
Overall, entrepreneurship is becoming increasingly popular for a variety of reasons. The rise of the gig economy, the availability of resources and support, the potential for personal and professional growth, and the changing nature of the workforce are all contributing to the popularity of entrepreneurship. Is it something you’re considering or doing?
Image credit: Midjourney