eBay Supplements Income for One and a Half Million US Entrepreneurs

• by Jack Loechner , Staff Writer @mp_research, July 26, 2005

eBay Supplements Income for One and a Half Million US Entrepreneurs

According to a new  survey conducted by eBay, entrepreneurs in record  numbers are setting up shop on eBay. More than 724,000 Americans report that eBay is their primary  or secondary source of income. In addition to these professional eBay  sellers, another 1.5 million individuals say they supplement their income by selling on eBay, according to the July 2005 survey.

 In the first six months of 2005, eBay members in the U.S. sold merchandise  worth approximately $10.6 billion. The report concludes that the  number of eBay entrepreneurs in the U.S. has increased 68 percent since the last time a comparable study was conducted in 2003. That study indicated  that 430,000 Americans at the time were making some or all of their income selling on eBay.

Bill Cobb, president of eBay North  America, said "In just 10 years, eBay has become the destination for Americans pursuing  their visions of entrepreneurship. It's exciting to think that many of them will go on to build thriving  businesses, create jobs and fuel their local economies -- while achieving  the satisfaction of turning their vision into reality."  

Additional survey findings include:

58 percent of Americans say they've dreamed of starting a business and becoming their own boss. In support of this, the eBay Day Small Business Tour will visit major U.S. cities this summer.

The most common reason for wanting to start a business is to:

• Increase one's  personal income (66 percent of respondents)
• Increased  independence (63 percent)

The primary barriers to starting a business are:

• Insufficient financial  resources (cited by 49 percent of respondents)
• Satisfaction with their  current situation (29 percent)  

 

For more information about the USPS and eBay small business tour, look here.