62% of unemployed or underemployed adults likely to launch a business within the next 12 months

Company Website: https://legalzoom.com
MOUNTAIN VIEW, Calif. -- (Business Wire)

LegalZoom.com, Inc. (Nasdaq: LZ), a leading online platform for legal services, today released the results of a new survey revealing that unstable work opportunities and shifting economic conditions are prompting many adults to rethink what they want from their careers. For more than half, the idea of working for themselves is becoming more appealing than returning to a traditional career path.

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LegalZoom: The Rising Appeal of Entrepreneurship

This period of professional reevaluation coincides with a significant economic shift driven by artificial intelligence. Research from Goldman Sachs suggests that AI adoption could displace the equivalent of 6-7% of the US workforce, with white-collar roles particularly exposed. Yet, AI is also opening up new areas of opportunity by lowering barriers to entry, automating complex tasks, and making it possible to launch and grow a business with fewer resources.

To better understand how people are weighing their career choices, LegalZoom surveyed more than 1,200 adults navigating job loss, reduced hours, or limited opportunities. The responses offer a detailed look at how interest in entrepreneurship is evolving, what motivates people to consider starting a business, and what may be holding them back.

Interest in entrepreneurship is high among adults facing unemployment or underemployment, with most believing it could offer greater stability, control, and long-term opportunity. Sixty-two percent (62%) of unemployed or underemployed adults say they’re somewhat or very likely to start a business within the next 12 months, with 26% saying they’re very likely. Sixty-nine percent (69%) say self-employment feels more appealing than a traditional job right now, including 40% who say it feels much more appealing.

“During periods of economic transition or uncertainty, we often see a surge in entrepreneurship as people seek to take control of their future,” said Jeff Stibel, CEO of LegalZoom. “What’s striking in this data is not just the high level of interest, but the clear pattern of individuals actively pursuing a path to business ownership as a response to both personal disruption and market opportunity.”

Most of the survey respondents appear to be experiencing that firsthand. Flexibility, financial potential, and independence stand out as the clearest motivators. Sixty percent (60%) cite flexibility and independence as key motivations. Fifty-two percent (52%) point to greater income potential, though this varies notably between unemployed (43%) and underemployed (61%) adults. Job insecurity and broader concerns about the job market also play a role, each cited by 27% of respondents.

However, strong interest does not always translate to immediate action. Respondents identified significant challenges to launching a business: 66% cite a lack of start-up capital, 56% worry about financial risk, 48% are unsure where to start, 47% feel a lack of confidence, and 45% say they don’t have enough experience. While 57% feel at least somewhat confident in their ability to run a business, they are seeking support to move forward, with 44% wanting legal and business help to set up their business. Moreover, 59% stated that they are unprepared for the legal paperwork and compliance associated with launching a business.

“We see a clear pattern of entrepreneurship here. Most unemployed or underemployed adults are open to entrepreneurship and can picture what their future businesses might look like, but they want stability, guidance, and manageable entry points to move forward,” added Stibel. “As more people explore business ownership, accessible tools and clear guidance can make the process more attainable. I am proud that LegalZoom helps support entrepreneurs with resources that simplify business formation, compliance, and long-term management, helping them build momentum as they embark on the next stage of their careers.”

About LegalZoom

LegalZoom is a leading online platform for legal services, transforming how individuals and small businesses navigate the legal system. By combining intuitive technology with access to experienced attorneys—whether through our vast independent attorney network or the LegalZoom-owned law firm—we offer the tools and guidance people need to confidently manage everything from business formations and compliance to estate planning and ongoing legal support.

With over two decades of experience and millions of customers served, LegalZoom helps individuals and small businesses navigate legal needs with confidence. For more information, visit www.legalzoom.com.

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Source: LegalZoom.com, Inc.