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The differences between co-owners and entrepreneurs can be seen in a few details. Each job has different responsibilities and duties. While it typically takes More than 10 years to become a co-owner, becoming an entrepreneur takes usually requires 4-6 years. Additionally, a co-owner has an average salary of $86,704, which is higher than the $70,849 average annual salary of an entrepreneur.
The top three skills for a co-owner include customer service, financial statements and business plan. The most important skills for an entrepreneur are kids, web design, and product development.
| Co-Owner | Entrepreneur | |
| Yearly salary | $86,704 | $70,849 |
| Hourly rate | $41.68 | $34.06 |
| Growth rate | 6% | 6% |
| Number of jobs | 52,915 | 34,711 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 62% |
| Average age | 52 | 44 |
| Years of experience | - | 6 |
A co-owner is responsible for ensuring smooth business operations, searching for the best industrial opportunities to drive revenues and increase profitability. Some of the business co-owners' duties include planning activities for business promotions, monitoring current market trends, establishing a reliable workforce, developing product specifications, managing financial goals and cost estimates, strengthening marketing strategies, and keeping records of business papers and documents. A co-owner should have excellent leadership, communication, and decision-making skills to secure business growth and success.
An entrepreneur is a business owner who regularly creates new ventures and sells them with the end goal of turning them into profit. To start up a new business, entrepreneurs must create business plans and acquire resources and financing while hiring talented individuals. They play a vital role in the economy because they are the driver of economic growth and innovation. They also make use of their business as a means of creating a sustainable living, which improves the quality of life.
Co-owners and entrepreneurs have different pay scales, as shown below.
| Co-Owner | Entrepreneur | |
| Average salary | $86,704 | $70,849 |
| Salary range | Between $63,000 And $118,000 | Between $42,000 And $118,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | General Catalyst |
| Best paying industry | - | Finance |
There are a few differences between a co-owner and an entrepreneur in terms of educational background:
| Co-Owner | Entrepreneur | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 62% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between co-owners' and entrepreneurs' demographics:
| Co-Owner | Entrepreneur | |
| Average age | 52 | 44 |
| Gender ratio | Male, 53.2% Female, 46.8% | Male, 58.5% Female, 41.5% |
| Race ratio | Black or African American, 3.7% Unknown, 3.9% Hispanic or Latino, 7.5% Asian, 7.4% White, 76.8% American Indian and Alaska Native, 0.6% | Black or African American, 6.3% Unknown, 4.3% Hispanic or Latino, 15.4% Asian, 6.4% White, 67.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 12% | 10% |