Who is the Small Business Entrepreneur?

If you are trying to reach the small business market like us, Experian has commissioned a very interesting study called “The face of today’s small-business owner” shedding light on the characteristics of small business entrepreneurs.

Here are some findings of the study:

• Small-business owners possess a 21 percent higher income than the overall population. The average small business owner’s annual household income is $71,690, compared to a nationwide average of $59,378.
• They are slightly younger than the overall national average, and they’ve lived in those homes longer than the typical citizen.
• 42% more likely than the average American to be married, 25% more likely to have children, and 20% more likely to live in a family with a male head of the household present. Three-quarters of them own a high-value home worth $500,000 or more,
• Small-business owners have higher education levels across all education attainment categories, and are more likely to donate to causes than the overall population.
• 20% more likely than the general population to buy items via mail order, either for their businesses or for their personal use. They are 50% more likely than average to purchase goods or services from the categories of upscale [retail], do-it-yourself supplies, or news and financial categories.
• 54% of small-business owners are more receptive to email than the general population, with highest receptivity among services (a category that takes in medical, consultants, and ad agencies), finance, insurance and real estate business owners. Not surprisingly, those in farming, fishing and forestry were 24% less likely to be reachable by e-mail than the typical American.

Alas, the study is not free and costs $250 to purchase. But if you want a copy, you can order it from Experian