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Gaining greater independence is the top reason people say they would start a small business, according to recent research from Paychex.

The report was based on data from a survey of 1,000 would-be small business owners in the United States.

Some 78% of respondents say they would start a small business in hopes of becoming more independent; 64% say they would start a small business because they think they would love it.

Just 53% of would-be entrepreneurs say making a lot of money would be one of their top motivations for starting a small business.

Some 82% of respondents say their biggest fear in starting a small business is that it would fail; 68% are worried that their business would not make much money.

Women are more likely than men to say they want to start a small business because they want to work for themselves.

Men are more likely than women to say they want to start a small business because they want to make more money.

About the research: The report was based on data from a survey of 1,000 would-be small business owners in the United States.

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ABOUT THE AUTHOR

image of Ayaz Nanji

Ayaz Nanji is a digital strategist and a co-founder of ICW Media, a marketing agency specializing in content and social media services for tech firms. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.

LinkedIn: Ayaz Nanji

Twitter: @ayaznanji