I'd venture a guess that most of those entrepreneurs aren't taking large risks or going far from the beaten path with their business model. Instead they're setting out to make a living by running a successful HVAC business or restaurant.
Another thing I've observed as a (soon to be former, thank f##king god) MA resident and which has not contradicted what I've observed in VT, NH ME as well as other parts of the Boston/NYC/DC urban+suburban area is that the blue collar business owners (and to a much lesser extent, their employees) directly benefit from serving a wealthy area. Wealthy people hire landscapers, plumbers and mechanics much more readily than less wealthy. The owners of businesses that serve them milk it for every penny of profit (and rightly so).
Don't believe me? Look at the trucks they drive and equipment they use. If it's all on it's last legs then times are tough. With all the people with the money to pay professionals for services times are anything but tough in most of MA
Anyway, my point is that if one plays their cards right, they can do very well (comparable to white collar professionals outside of tech/engineering/financial) by owning a small business. Desire to be an entrepreneur has nothing to do with it, for someone who isn't wealthy in a wealthy area more possible situations where the risk/reward makes owning/starting a business a great strategic decision.
Right, and this is precisely what entrepreneurship means in the general case.
Doing a 'startup' is a different thing entirely, and has a far more bimodal outcome curve than what you or I describe.
I think language is helpful, especially because younger HN readers may not know to distinguish the two, and think that advice or statistics about entrepreneurs applies to them when they are aiming at a fast-growth startup.
Another thing I've observed as a (soon to be former, thank f##king god) MA resident and which has not contradicted what I've observed in VT, NH ME as well as other parts of the Boston/NYC/DC urban+suburban area is that the blue collar business owners (and to a much lesser extent, their employees) directly benefit from serving a wealthy area. Wealthy people hire landscapers, plumbers and mechanics much more readily than less wealthy. The owners of businesses that serve them milk it for every penny of profit (and rightly so).
Don't believe me? Look at the trucks they drive and equipment they use. If it's all on it's last legs then times are tough. With all the people with the money to pay professionals for services times are anything but tough in most of MA
Anyway, my point is that if one plays their cards right, they can do very well (comparable to white collar professionals outside of tech/engineering/financial) by owning a small business. Desire to be an entrepreneur has nothing to do with it, for someone who isn't wealthy in a wealthy area more possible situations where the risk/reward makes owning/starting a business a great strategic decision.