30+ Interesting Solopreneur Statistics
Table of Contents Show
The rise of the solopreneur is reshaping how we think about entrepreneurship entirely. Gone are the days when starting a business only meant renting an office and hiring a team. Today, millions of ambitious people are proving that sometimes the most powerful companies start with a team of one.
From freelance designers bringing in six figures to ecommerce owners running huge operations from their laptops, solopreneurs are pushing the boundaries of what's possible these days. If you've ever wondered about joining their ranks or are curious about how these one-person businesses actually perform, these statistics will give you the real picture of the solopreneur economy in 2024. Keep reading!
Top 8 solopreneur statistics
There are roughly 28.5 million solopreneurs in the U.S.
54.4% of solopreneurs are female.
34.4% started their business to have more freedom.
20% of solopreneurs achieve $100k-$300k annual earnings without outsourcing.
34% of solopreneurs work from home.
Social media was cited as the top lever of growth for a solopreneur’s business.
76% of businesses in 1997 were run by solopreneurs compared to 84% in 2020.
Millennials are the biggest cohort of independent workers.
So, what is a solopreneur?
A solopreneur is an entrepreneur who starts and runs a business entirely on their own, without employees or co-founders. Unlike traditional entrepreneurs who might build a team or seek to scale their business significantly, solopreneurs intentionally keep their operations small and maintain complete control.
They handle all aspects of the business themselves - from product/service delivery to marketing, accounting, and customer service. They might occasionally outsource specific tasks to contractors or use automation tools, but they remain the only person formally involved in the business.
Common examples of solopreneurs include:
Freelance writers, designers, or consultants
Online course creators
Personal coaches or trainers
Independent software developers
Content creators or bloggers
Professional speakers
Solo attorneys or accountants
Solopreneur statistics
Now, let’s get into the facts and numbers! Here are more than 30 solopreneur statistics.
Solopreneur demographics
There are roughly 28.5 million solopreneurs in the U.S. (Source: Yahoo Finance)
With around 28.5 million solopreneurs in the U.S., this entrepreneurial type shows a growing preference for independence and personal businesses. Solopreneurs are reshaping industries, leveraging their skills, and embracing flexible, self-driven careers to build businesses that reflect their passions, often with lean operations.
14.8% of solopreneurs are between 18 to 24 years old. (Source: PR Newswire)
14.8% of solopreneurs are between 18 to 24 years old, showing a growing trend of young people. They are increasingly leveraging digital tools and social media to launch businesses with low startup costs. Many want independence, flexible work, and the ability to turn their passions into income. For these solopreneurs, entrepreneurship represents an opportunity to break traditional career molds and build a future on their terms.
54.4% of solopreneurs are female. (Source: PR Newswire)
54.4% of solopreneurs are female, highlighting the growing presence of women in business. This stat shows that the benefits of solopreneurship are especially desirable to women, as they seek more control over their careers, schedules, and income. It’s exciting to think about how this trend will develop.
More than half of solopreneurs have a Bachelor’s degree or higher. (Source: PR Newswire)
More than half of all solopreneurs hold a Bachelor’s degree or higher, showing how valuable education can be in entrepreneurship. Many solopreneurs leverage their knowledge and experience to start and grow businesses. This higher level of education provides them with a strong foundation in various fields, empowering them to navigate challenges and make informed decisions as they build their own businesses.
Millennials are the biggest cohort of independent workers. (Source: MBO Partners)
Millennials make up the largest cohort of independent workers, driven by a desire for flexibility, autonomy, and purpose in their careers. Many millennials also embrace digital platforms and technology, making it easier to launch businesses and create income streams. For them, solopreneurship allows them to build a business, and life, on their own terms.
Business motivation & trends
56% of solopreneurs started their business after 2020. (Source: Quickbooks)
56% of solopreneurs started their businesses after 2020, reflecting a surge in entrepreneurship during and after the pandemic. The global crisis caused many people to rethink their careers, with job instability and remote work encouraging the shift toward self-employment. For a lot of people, starting a business became a way to regain control, pursue passions, and create more flexible, resilient income streams in the face of uncertainty and change in the job market.
34.4% started their business to have more freedom. (Source: PR Newswire)
For 34.4% of solopreneurs, the desire for more freedom was the driving force behind starting their business. These entrepreneurs wanted control over their schedules, decision-making, and life. Rather than adhering to rigid corporate structures and schedules, they've embraced the flexibility of being their own boss, allowing them to pursue personal interests, spend more time with loved ones, and create a lifestyle that is more in line with their goals.
22.6% started for higher income potential. (Source: PR Newswire)
For 22.6% of solopreneurs, the primary motivation for starting their business was the potential for higher income. Unlike traditional employment, where salary growth can be limited, entrepreneurship offers the opportunity to scale earnings based on effort, innovation, and market demand. These people saw the chance to break free from income ceilings, seeking greater financial rewards by leveraging their skills, resources, and the flexibility to grow their own business.
22% of solopreneurs started out of passion. (Source: PR Newswire)
For 22% of solopreneurs, starting a business was driven by passion. These entrepreneurs pursued their businesses to follow their interests, turn hobbies into careers, or share their expertise with others. They’re focused on creating something meaningful and fulfilling, rather than just financial gain. For them, business success is closely tied to doing what they love, which can fuel motivation, creativity, and long-term satisfaction.
57% of solopreneurs started their businesses because of inflation. (Source: Quickbooks)
57% of solopreneurs launched their businesses in response to inflation, wanting more income opportunities amid rising costs. With traditional employment wages often not keeping up with inflation, many turned to entrepreneurship as a way to increase their income and gain control over their financial futures. Starting their own businesses may allow them to adapt to changing economic conditions, offering greater earning potential and the flexibility to thrive in uncertain times.
22% started their business because they lost a job. (Source: Quickbooks)
Around 22% of solopreneurs started their businesses after losing a job, turning a challenging situation into an opportunity. For many, unemployment served as a catalyst for pursuing entrepreneurship, offering the chance to take control of their careers. Losing a job often pushes people to rethink their future, making entrepreneurship a proactive solution for stability and growth.
8% started due to student loan debt. (Source: Quickbooks)
About 8% of solopreneurs started their businesses as a response to student loan debt. By launching their own businesses, these solopreneurs may be able to make more money to pay off their debt, so this is a strategic move to achieve financial stability and improve their financial future.
Financial insights
A solopreneur makes $39,273 on average in the U.S. (Source: Comparably)
In the U.S., the average income for a solopreneur is $39,273 annually. While income can vary greatly depending on industry, niche, and business model, this average highlights the challenges solopreneurs may face in generating a full-time revenue, but also the potential. Many rely on diverse income streams or part-time work to supplement earnings as they grow their businesses.
Solopreneurs need to earn an average of $219,000 in 2024 to feel successful. (Source: Quickbooks)
In 2024, solopreneurs believe they need to earn an average of $219,000 to feel successful. This figure reflects the growing expectations of financial independence. For many solopreneurs, this income level represents the balance between covering business expenses, reinvesting in growth, and achieving their personal financial goals. It also reflects the increasing cost of living and the desire for a sustainable, thriving business model.
20% of solopreneurs achieve $100k-$300k annual earnings without outsourcing. (Source: PR Newswire)
An impressive 20% of solopreneurs earn $100k-$300k annually without outsourcing, showing their ability to optimize time, skills, and resources. These high earners focus on efficient workflows to maximize their profitability on their own. Some of the ways they may do this is through using A.I. and prioritizing more vital tasks. This stat highlights how much is possible as a completely solo business owner not relying on additional help or delegation.
Work environment & lifestyle
34% of solopreneurs work from home. (Source: Quickbooks)
A significant 34% of solopreneurs choose to work from home, valuing the convenience and flexibility it offers. This arrangement allows them to design a workspace tailored to their needs while avoiding commutes and overhead costs. For many, working from home also creates a better work-life balance that aligns with their goals and lifestyle.
24% of solopreneurs work in a dedicated workspace like an office, store, or warehouse. (Source: Quickbooks)
Nearly a quarter of solopreneurs (24%) operate from dedicated workspaces like offices, stores, or warehouses. This setup reflects that working at home may not be for everyone. For some, a physical location can improve focus, separate work from home life, or better serve customers. Others need specialized environments for inventory or equipment. While many solopreneurs embrace remote work, these dedicated spaces highlight the different ways entrepreneurs can tailor their environments to fit their business needs.
Solopreneurs work on average 40 hours a week compared to a typical employer’s 45 hours. (Source: Quickbooks)
On average, solopreneurs work 40 hours a week, compared to 45 hours for traditional employers. This slight difference shows the efficiency and flexibility solopreneurs can achieve with their setup. This balance allows solopreneurs to maintain a full workweek while still carving out time for personal priorities—something many employers may struggle to achieve in structured roles.
Solopreneurs take off an average of 15 days a year compared to a typical employer’s 14 days. (Source: Quickbooks)
Solopreneurs enjoy an average of 15 days off eacy year, slightly edging out the 14 days offered by typical employers. This balance showcases the flexibility many solopreneurs prioritize in their work-life structure. While they often manage intense schedules, they are also in control of carving out meaningful breaks. These extra days off also reflect the freedom solopreneurs want, blending hard work with the ability to recharge when it suits them best.
35% of solopreneurs report high stress levels compared to 26% of typical employers. (Source: Quickbooks)
When you're wearing all the hats in your business, that mental load hits differently. While traditional employers can delegate and distribute responsibilities, solopreneurs are carrying the full weight of their goals on their shoulders - from client meetings to accounting to marketing. Those are some of the reasons why they're feeling the pressure at significantly higher rates than their counterparts who have teams to lean on.
76% of independent workers said they were satisfied with their circumstances. (Source: MBO Partners)
76% of independent workers being satisfied with their circumstances shows the appeal of self-employment. This satisfaction often comes from the freedom to set their schedules, choose projects that are more in line with their passions, and create a lifestyle tailored to their needs. Independent work allows for greater control over personal and professional balance, fostering a sense of fulfillment that many find difficult to achieve in traditional employment structures.
56% feel more secure being self-employed than working as a traditional employee. (Source: MBO Partners)
For 56% of self-employed people, working for themselves feels more secure than traditional employment. This confidence often comes from having control over their income, schedule, and career direction. Unlike employees who may face sudden layoffs or limited growth, solopreneurs rely on their business, honing adaptable skills, and possibly diversifying their revenue streams. Self-employment empowers them to create stability on their own terms, offering a sense of security that traditional roles can’t always provide.
Growth & hiring
60% of solopreneurs planned to hire help in 2024. (Source: Quickbooks)
A shift is happening among solopreneurs—60% plan to hire help in 2024. This shows that many solopreneurs in fact don't want to stay solopreneurs forever. By bringing in support, they can focus on their strengths, expand offerings, and reduce burnout. Whether through contractors, freelancers, or part-time employees, hiring help signals a move toward scaling their businesses while still maintaining the flexibility and independence that solopreneurship offers.
14% say they don’t ever want to hire employees. (Source: Quickbooks)
14% of business owners say they never want to hire employees. This decision often comes from a desire for simplicity—fewer responsibilities, less overhead, and complete control over their operations. Instead of managing teams, they focus on contractors, automation, or solo efforts to scale.
Social media was cited as the top lever of growth for a solopreneur’s business. (Source: Quickbooks)
Social media is the top lever of growth for solopreneurs, playing a critical role in building brand awareness, reaching new audiences, and driving sales. With platforms like Instagram, Facebook, and LinkedIn, social media can offer cost-effective marketing opportunities, help solopreneurs to grow their businesses, build a loyal following, and establish a strong online presence without significant upfront costs.
Market insights
29.5% of solopreneurs sell products. (Source: PR Newswire)
29.5% of solopreneurs sell products, highlighting how solopreneurs leverage product-based businesses to generate income, often focusing on high-quality, specialized items or digital offerings that can be scaled without significant overhead costs.
20.3% sell professional or consulting services. (Source: PR Newswire)
20.3% of solopreneurs sell professional or consulting services, showing the demand for expertise across various fields. These businesses owners are using their skills and knowledge to offer services such as coaching, marketing consulting, or financial advising.
Challenges & feelings
13.1% of solopreneurs reported feeling lonely and isolated in their work. (Source: PR Newswire)
13.1% of solopreneurs report feeling lonely and isolated in their work, a challenge that comes with working independently. Without colleagues or a team for support, solopreneurs sometimes experience loneliness, both socially and professionally. This loneliness can impact mental health, creativity, and motivation. Many solopreneurs combat this by networking, joining online communities, or collaborating with others, ensuring they stay connected while maintaining their independence.
41.6% of solopreneurs have been running their businesses for less than one year. (Source: Genius)
41.6% of solopreneurs have been running their businesses for less than one year, reflecting the influx of new entrepreneurs entering the market. Many are motivated by the desire for independence, flexibility, or to turn passions into profit. The first year is often a period of learning, adapting, and testing business ideas. Many solopreneur businesses are new and it’s exciting to think where they’re headed.
Industry evolution
76% of businesses in 1997 were run by solopreneurs compared to 84% in 2020. (Source: Forbes)
In 1997, 76% of businesses were run by solopreneurs, a figure that rose to 84% by 2020. This increase reflects a growing trend toward self-employment and independent work over the years. Technological advancements, the rise of the gig economy, and shifting attitudes toward work have made it easier for people to start and manage businesses on their own and this statistic highlights the shift toward more flexible, entrepreneurial career paths.
By 2027, freelancers will make up more than 50.9% of the U.S. workforce. (Source: Statista)
By 2027, freelancers are projected to make up over 50.9% of the U.S. workforce, signaling a major shift toward independent work. Factors such as flexible schedules, the ability to work remotely, and a changing economy are some of the things that may be driving this change. As more people want control over their careers, freelancing offers opportunities for diverse income streams, personalized work-life balance, and the freedom to pursue passions without traditional employment constraints.
48% of Americans have reported working as an independent at some point in their career. (Source: MBO Partners)
48% of Americans have reported working as an independent at some point in their career, highlighting how common this type of work is. Many individuals pursue freelance, consulting, or entrepreneurial opportunities for flexibility, financial independence, or the chance to follow personal passions. Others see it as a temporary situation to grow their skills, have an income in between jobs, or pay off their debt. While solopreneurship seems like a new phenomenon, in fact, it’s quite common!
Want to learn more?
Are you a solopreneur or want to become one? Hopefully, this blog post has helped you learn a little more about solopreneurs, what they do, and how they fit into the changing business world. But do you want to learn more? We are a Squarespace design agency committed to helping entrepreneurs and small businesses improve their online presence with our Squarespace web design services, Squarespace templates, and blog content. Here are a few of our favorite posts to get you started!
40+ UX Statistics (Mobile, Speed, Design, and More)
35 Color Palettes for Websites
90+ of the Best Google Fonts for Your Website
80+ Fascinating Website Statistics
40+ Ways to Increase Your Blog Traffic
Do People Still Read Blogs in 2024?
Marketing Without Social Media (15+ Strategies for Your Business)
