Most Small Businesses are Started with Less than $10,000

Intuit recently did a survey of small business owners. A key finding was 64% of small business owners surveyed said they started their business with less than $ 10,000 in invested capital.  

Equally interesting is that only 13% said they spent more than $ 50,000 starting their business.  

Intuit infographic

Our surveys of independent workers who work on their own as freelancers, independent contractors, etc. consistently show most of these solopreneurs spend even less. These solopreneurs report on average that spend $ 5,000 or less getting their businesses going.

The Internet, cloud computing and the general cost declines associated with technology have made it much cheaper to start a business. This, of course, means it's also much less risky and easier.

Easier, cheaper and less risky = more people becoming independent workers and starting small businesses.

For more on this, see the 2014 MBO State of Independence report which covers the growth of the independent work force.