Education Levels and Self-Employment
As people obtain more schooling, they are more likely to consider self-employment. That’s one main result of a new study from Chad Moutray of the US Small Business Administration’s Office of Advocacy. Moutray examined how various factors impact one’s decision to pursue entrepreneurship as a career option. Additional education has a strong effect, as heads of households with college degrees are 4.4% more likely to start a business when compared to the overall working population. Military experience has an even more pronounced impact; veterans 9.4% to 11% more likely to start businesses than the general population. The research also indicates that self-employed heads of households are more likely to be older, married, white, military veterans, Internet savvy, and rural.
To access the December 2007 US Small Business Administration Office of Advocacy working paper, Educational Attainment and Other Characteristics of the Self-Employed: An Examination using Data from the Panel Study of Entrepreneurial Dynamics, by Chad Moutray.