Washington, D.C., Nov. 19, 2024 (GLOBE NEWSWIRE) -- The Association for Enterprise Opportunity (AEO) is excited to announce the introduction of new microbusiness owner survey items in the 2024 Entrepreneurship in the Population (EPOP) Survey (EPOP:2024), one of the most important and systematic surveys of entrepreneurship that has been conducted since 2022 by NORC at the University of Chicago. In collaboration with NORC, AEO seeks to deepen our understanding of the experiences of underserved entrepreneurs across the U.S.
As part of AEO’s commitment to empowering the nation’s microbusinesses—those with fewer than 10 employees, which make up 96% of all U.S. businesses—AEO introduced new survey items in the EPOP:2024 Survey to explore critical areas such as access to business support services, financing needs beyond startup, and the adoption of cutting-edge technologies like generative AI. These additions aim to uncover the unique barriers and opportunities that microbusiness entrepreneurs face and identify the resources that could drive their success.
“While EPOP data includes insight into businesses of all sizes, small businesses are so critical to the health and growth of the U.S. economy. We were pleased to partner with AEO to capture a better understanding of microbusiness owners," said Karen Gregorian, Vice President and Project Director at NORC.
By collaborating with NORC, AEO has enriched the data collected from over 2,000 microbusiness owners. This rich dataset will be instrumental in shaping policies and initiatives that promote a more inclusive entrepreneurial ecosystem. The EPOP Survey is a five-year project led by NORC and funded by the Ewing Marion Kauffman Foundation, designed to track and analyze business formation and ownership trends across the United States.
"Our mission is to illuminate the specific hurdles that underserved entrepreneurs encounter and transform that knowledge into tangible, impactful solutions," said Natalie Madeira Cofield, CEO of AEO. "This survey is a powerful tool that will guide us in reshaping the support landscape, ensuring every entrepreneur has the resources they need to thrive."
The EPOP:2024 public use data set with the microbusiness survey items is now available for download here. In the coming months, AEO will release new reports that draw from the survey to shed light on key findings and their implications for policymakers and the small business support ecosystem.
"This survey captures the evolving experiences of microbusiness in the U.S.," added Dr. Lori Smith, Senior Research Advisor at AEO. "By delving deeper into how entrepreneurs are accessing support, contributing to their communities, and embracing new technologies, we can strategically address their most critical needs and drive meaningful change."
About the Association for Enterprise Opportunity (AEO):
The Association for Enterprise Opportunity (AEO) is the leading voice of innovation in microbusiness and microfinance in the United States. AEO and its more than 1,700 member organizations are dedicated to empowering underserved entrepreneurs and enhancing economic opportunity for all. Since its founding, AEO has worked to create a robust ecosystem of support for micro-businesses, driving economic growth and equity across the nation. Click here for more information.
About NORC at the University of Chicago
NORC at the University of Chicago conducts research and analysis that decision-makers trust. As a nonpartisan research organization and a pioneer in measuring and understanding the world, we have studied almost every aspect of the human experience and every major news event for more than eight decades. Today, we partner with government, corporate, and nonprofit clients around the world to provide the objectivity and expertise necessary to inform the critical decisions facing society.
About EPOP:
Starting in 2022, NORC is conducting a five-year project to study business ownership in the population through the Entrepreneurship in the Population (EPOP) Survey Project. Funded by a grant from the Ewing Marion Kauffman Foundation, the EPOP Survey uses a nationally representative sample to measure current and former business ownership. In addition to providing a characteristic profile of the individuals involved in entrepreneurial activities across the U.S., the survey serves as a resource for understanding the motivations, actions, and challenges faced by individuals during the entrepreneurial process and the resources available to them.
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