Solopreneurs are thriving as corporate counterparts struggle

Joy DasGupta left a stable marketing job at Starbucks after 13 years to become a rewards program consultant, seeking flexibility as a caregiver. Corporate life at Starbucks became overwhelming due to inflexibility and job insecurity during restructuring. Many working mothers prioritize flexibility and are willing to accept slightly less pay for it. DasGupta now earns a good income as a solopreneur, enjoying control over her schedule. Recent data shows solopreneurs, while earning less initially, surpass employee salaries by year two and significantly by year five. The professional, scientific, and technical services sector is the most popular for solopreneurs, with information and arts sectors seeing the highest revenue growth. Solopreneurs are a foundational part of the economy, often without employees. The rise of the internet, mobile technology, and AI has made solopreneurship more accessible and cost-effective. AI acts as a "silent business partner," enabling individuals to perform tasks previously requiring teams. Changing priorities and values, especially among younger generations, are driving a desire for autonomy and control, leading people to design work around their lives. Corporate disengagement, due to return-to-office mandates, layoffs, and inflation, further pushes workers towards solopreneurship. Companies often lack meaningful family support programs, making solopreneurship an attractive option for caregivers, particularly women, seeking flexibility. DasGupta has no regrets about her transition, valuing the ability to focus on producing impactful work.