Capital and Entrepreneurship in the U.S.

Business owners describe an increasingly challenging environment for starting and running a business, shaped by economic uncertainty, policy changes and evolving workplace dynamics. At the same time, the findings highlight a consistent pattern: Those who own businesses that employ others tend to experience stronger outcomes than other workers, including higher levels of wellbeing and greater financial stability.

Owner-employers stand out not only for their performance but also for their rarity. While their outcomes suggest meaningful advantages, relatively few workers become or sustain this level of business ownership. Many who start businesses do so without employees, and only a small share transition into employer status over time. Even among those who do, maintaining that status can be difficult, as businesses face ongoing operational and economic pressures.

These findings are based on Gallup’s Year 3 Pathways to Wealth study, conducted in fall 2025 among U.S. working adults, including a large sample of business owners to enable comparisons across ownership types.