Operating a small business on your own is like being a one-man band — often noisy, and with a lot of moving parts you need to manage in order to stay on beat. Hitting all the right notes to keep your business running without co-owners or employees takes hard work, discipline, and dexterity.
It’s that grit and determination that make the nearly 30 million1 solopreneur-run businesses in the U.S. such a powerful segment of the small business community, and one that we at Simply Business would like to get to know better. We surveyed over 1,000 solopreneurs to learn more about what drives them, the pitfalls of entrepreneurship, and where they see their business going in the future.
You can read The Power of One: 2025 Solopreneur Report to get our full write-up with data, trends, and insights from solopreneurs themselves.
Want to know more about the report? Here’s a little of what you can expect.
What is a Solopreneur?
A solopreneur2 is someone who starts and operates a business with no co-owners or employees. Going solo allows for greater control over your business. Without employees or business partners, you can choose how and when you work without needing permission from anyone else.
Some common types3 of solopreneur, to name a few, are:
- Freelancers, such as virtual assistants, photographers, and ghostwriters
- Consultants, including business coaches and service providers
- Executive coaches, which can include workshop facilitators and professional speakers
- Creatives, such as graphic designers and copywriters
- Wellness coaches, such as personal trainers and nutrition specialists
Our Method and Focus
“This report is driven by our commitment to not just protecting, but truly breeding confidence in solo business owners through tailored solutions and a profound understanding of their distinct challenges and aspirations.”
Samantha Roady, U.S. CEO of Simply Business
With this survey, we wanted to learn more about how and why solopreneurs do what they do. Our questions focused on key topics such as:
- What motivated them to start their businesses
- The financial realities of going solo
- The sacrifices they’ve made to keep things running
- How they’ve leveraged tools, technology, and social media
- Their outlook on the future of their business and industry
The report is a deep dive into the solopreneur landscape, and our goal was to understand and reflect the full scope of the solopreneur experience.
Here’s What We Learned…
1. The journey is about passion and autonomy.
At the beginning of every solopreneur journey there’s an idea that gets the ball rolling. So, what inspires someone to set out on their own career path?
The takeaway: We learned that, for many, it was either for love and logic (or both). Passion for what they do was the main motivator for 53% of the respondents. Following that was autonomy, which 32% reported was their driving force.
What can we learn from this? No matter how you interpret the data, it’s clear that solopreneurs value their own preferences. Whether they’re dedicated to a craft or to being their own boss, solopreneurs are prioritizing their own needs and channeling them into business ventures.
2. Despite uncertainty, most feel financially secure.
Being your own boss can be a double-edged sword. You gain autonomy over your professional decisions, but you may be forfeiting the certainty of a steady paycheck.
Despite the gamble, more than half (58%) of solopreneurs stated that they feel financially secure about their business. But it’s not without sacrifices, as 48% reported that they’ve gone at least a month without income during their journey.
The takeaway: Running a business can be a financial tightrope act. Solopreneurs can’t control the ups and downs, but they can control how they confront them. Those we surveyed were mostly optimistic overall about their ability to handle what comes at them and keep their businesses on track financially.
3. Small businesses can mean big sacrifices.
Starting a business on your own can feel like building a plane while you’re flying it. You have to be prepared to wear a lot of hats, often all at the same time.
Based on what we learned, “a lot of hats” is almost an understatement. Many underestimated just how much was required to keep things running, with 61% reporting that they were surprised how difficult it would be to handle all business functions themselves. Over a third (34%) have considered giving up their business, with most citing financial stress as a top factor.
The takeaway: Solopreneurs face a sharp learning curve, especially when they’re just starting out. What they do often comes at great personal cost, which they need to weigh against their aspirations and motivations.
Looking for more?
The Power of One: 2025 Solopreneur Report contains more valuable insights, such as:
- Whether solopreneurs are considering adopting AI and automation
- How and why solopreneurs are using social media
- Their confidence in the state of their business and industry
And so much more. Get The Power of One to learn all about the solopreneur landscape:
References:
- https://www.census.gov/newsroom/press-releases/2025/nonemployer-business-characteristics.html#:~:text=MAY%208%2C%202025%20%E2%80%94%20Women%20owned,by%20the%20U.S.%20Census%20Bureau. ↩︎
- https://www.uschamber.com/co/start/startup/what-is-solopreneur ↩︎
- https://www.justinwelsh.me/article/types-solopreneur-examples ↩︎