Aug. 21 Costa Mesa, Calif.—Experian, a financial information company, released a report that examines the characteristics of small-business owners.
The report was based on an analysis of Experian’s proprietary data on more than 1.2 million small-business owners, including businesses with fewer than 25 employees and less than $10 million in annual sales.
The study found that incorporated small-business owners have incomes that are 36% higher than the general population, and are 56% more likely to have completed college than the general population.
Incorporated small-business owners also are 94% more likely to exhibit “work hard, play hard” attitudes than unincorporated owners and the overall population.
The results of the study indicate that owners of incorporated businesses tend to be more active, educated, wealthy and younger than owners of unincorporated businesses and the general population.