Entrepreneurs and new businesses are gaining steam and growing rapidly. Becoming an entrepreneur is easier and more important than ever.
According to a study by the Global Entrepreneurship Monitor (GEM), there are currently
582 million entrepreneurs in the world, with entrepreneurship trending upwards year
over year in many countries. In 2020, for example, the UK experienced a 101%
increase in small business growth, followed by the US with an 86% increase, Australia
at 73% growth and Germany and Canada with 73% and 58% increases respectively,
according to the World Economic Forum. Why is entrepreneurship increasing?
The Playing Field Is Evening Out
Entrepreneurship is on the rise—and for good reason. To start, cheap, innovative
technology and e-commerce sites such as Shopify and Amazon are giving everyone,
from inexperienced individuals to seasoned business CEOs, easy and effective sales
channels to grow and expand their product lines. Similarly, powerful social media
platforms like Instagram and Meta (formerly Facebook) are providing young and
ambitious self-starters with free and paid promotional tools to reach millions of viewers
globally every day. Factor in more recent movements like the “great resignation”—the
trend of workers quitting jobs to find more flexible work arrangements—and the
empowerment of start-up-focused Gen Z and millennials like Mark Zuckerberg, and you
get a clearer picture of why more individuals are choosing to create their own
The Democratization of Entrepreneurship Is Fostering a Sea Change
There is much to be said for the democratization of entrepreneurship. In more recent
years, many first, second and even third-world countries have made efforts to lift
minorities and women into the workforce because these groups statistically improve
economies when they become educated and ingrained in business. In the earlier part of
the last century, it was inconceivable for many women and minorities to think that
entrepreneurial resources, support systems and tools would be open to them, but,
today, the story is changing quickly. Now, a large number of tools and resources, such
as fin-tech platforms and easy-to-use e-commerce sites, are creating barrier-free
opportunities for everyone—not just the privileged elite.
Women, in particular, are starting businesses at a faster rate than men, with the World
Bank and Forbes reporting that females accounted for more than half of all new
entrepreneurs in 2020. Women still experience many barriers, such as limited funding,
gender biases and lacking government support, but they are on the path to a more level
playing field, and current trends show only upward momentum.
Technology Is the Great Equalizer
Technology is an important game changer in the world of entrepreneurship. With the
freedom and accessibility of the internet and the ubiquity of smartphones, anyone can
start a company without having to raise money or leave their home. Likewise, technology is enabling the "digital nomad"; lifestyle where individuals can work remotely
with flexible hours and fewer obstacles toward success than in earlier decades.
A New Way for Start-Ups to Access Investors
Embracing these advancements with a clear focus on equality, sustainability and a
healthy planet, the world is witnessing a major shift in how people start, grow and run
their businesses. At Sircular, we want to be part of this change, focusing our efforts on
increasing public access to lucrative start-up ecosystems by making matchmaking
easier between start-ups and investors. Formerly an arduous and closed-door process
that stonewalled young and inexperienced entrepreneurs, women and minorities, start-
up investing is now accessible to all, thanks to the beauty of technology.
Investors and startups: A Symbiotic Relationship Primed for Massive Growth
With more people entering the entrepreneurial space, the pool of potential businesses
to invest in is expanding exponentially. Similarly, investor interest in cutting-edge
businesses is at an all-time high. These two sides are primed to work with each other at
an unprecedented pace, creating more diversity among entrepreneurs and more
innovation and creativity in the marketplace. It is a marketplace where the future
includes everyone and creates lasting solutions for them too.