Nationwide Entrepreneurship Survey Data Publicly Released, Finds Steady Decline of Interest in New Business Ventures
CHICAGO, December 9, 2025 — NORC at the University of Chicago has published the fourth wave of the Entrepreneurship in the Population (EPOP) survey data, a publicly available resource for understanding entrepreneurial activities across the United States. The EPOP survey includes measures of entrepreneurial behavior, providing policymakers with new information on past, present, and future business ownership and self-employment in their communities.
Initial findings from the EPOP:2025 survey show:
- Since the start of the EPOP survey, there has been a continued decline in the fraction of individuals in the United States pursuing business ownership. In 2022, about 17 percent of the U.S. population was considering starting a business, compared to only about 14 percent in 2025.
- The share of former business owners in the United States has experienced a small but steady rise over the last four years, increasing from about 15 percent in 2022 to just over 16 percent in 2025.
- Participation in freelance and digital platform work has remained relatively stable over the past four years, underscoring the continued importance of non-traditional employment in the U.S. economy.
“Since the initial launch of EPOP in 2022, we have seen a continued decline in individuals considering new business ventures and a steady increase in former business ownership. Newly released EPOP:2025 data allows researchers to dig into the potential causes of these trends,” said Quentin Brummet, EPOP principal investigator and principal research methodologist at NORC.
“Since the initial launch of EPOP in 2022, we have seen a continued decline in individuals considering new business ventures and a steady increase in former business ownership. Newly released EPOP:2025 data allows researchers to dig into the potential causes of these trends.”
“EPOP continues to be a unique data source for monitoring changes in the entrepreneurial environment and understanding the unique experiences of business owners as well as individuals who have previously shut their business or are currently trying to start a business,” said Brummet.
Guided and funded by the Ewing Marion Kauffman Foundation, the EPOP survey is an annual, cross-sectional, nationally representative study of U.S.-residing adults who represent existing business owners, former business owners, prospective entrepreneurs, freelancers, and gig workers. The survey seeks to understand the pathways people take toward business ownership and self-employment and the factors that support and inhibit entrepreneurship. NORC has conducted it annually since 2022, and one more survey, which includes a longitudinal component, is planned for 2026.
“The upcoming EPOP:2026 survey marks an exciting evolution in our research, as we introduce a longitudinal component to better understand how entrepreneurial paths unfold over time,” said Brummet. “This wave will provide critical insights into the early actions that predict business formation, the factors that influence growth or closure, and the role of capital access in entrepreneurial success. We’re especially eager to explore how gig work and freelancing may serve as steppingstones to future business ventures.”
Methodology
The EPOP:2025 Survey’s target population is all non-institutionalized adults 18 years or older in the United States. The study sample is selected from NORC’s AmeriSpeak® Panel, which is a probability sample with explicit stratification and known sample selection probabilities.
EPOP:2025 data collection started on February 12, 2025, and concluded April 4, 2025.
Data were primarily collected via an online survey; computer-assisted telephone interviewing was a secondary mode depending on panelists’ preference. The survey was available in both English and Spanish. All participants were compensated for their participation.
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, NORC has studied almost every aspect of the human experience and every major news event for more than eight decades. Today, NORC partners with government, corporate, and nonprofit clients around the world to provide the objectivity and expertise necessary to inform the critical decisions facing society.
Contact: For more information, please contact Eric Young at NORC at young-eric@norc.org or (703) 217-6814 (cell).
About the Ewing Marion Kauffman Foundation
The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation based in Kansas City, Mo., which seeks to build inclusive prosperity through a prepared workforce and entrepreneur-focused economic development. The Foundation uses its $3 billion in assets to change conditions, address root causes, and break down systemic barriers so that all people—regardless of race, gender, or geography—have the opportunity to achieve economic stability, mobility, and prosperity. For more information, visit Kauffman.org and connect with us.
