Each new business an entrepreneur starts is likely to take them less time than the business before, a new Experian study of US business owners by Marketing Charts has found.
Experian found that entrepreneurs with multiple businesses take an average of 8.66 years to open their second business, 3.15 years to open their third and then just over a year to open their fourth.
And the more businesses a person owns, the better off they are likely to be. Experian found multi-business owners in the US are 41% more likely than single business owners to have an income greater than $US125,000 and own homes that are on average worth $US200,000 more.
Overall, however, business owners compare well to the broader population – they are more likely to have a university education, earn an income above $US75,000 and live in a high-value home (worth $US300,000 or more) than the average person.