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Statistically speaking: Most new business owners used personal savings to start their companies in 2013

According to the January 2014 Who Started New Businesses in 2013? survey by The Kauffman Foundation and LegalZoom, 42 percent of new business owners had at least 10 years experience before starting their company. Here are other numbers.

8% business owners who incorporated in 2013 who have a high school diploma, GED or less

34% new business owners who have a bachelor’s degree

86% new owners who used personal savings to start their companies

16% owners who used credit cards

Source: Kauffman Foundation, LegalZoom

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