The median entrepreneur makes 53 500 euros

News article

According to TEK’s Labour Market Survey 2020,TEK’s entrepreneur members make quite good money even though the COVID-19 year reduced earnings.

According to TEK’s new Labour Market Survey, in 2020 TEK’s full-time entrepreneurs earned some 72 400 euros on average (72 500 euros in 2019) and part-time entrepreneurs brought in some 7 800 euros (9 700 euros in 2019). The respective median incomes were 53 500 and 2 200 euros. The average price of an invoiced day was 658 (677) euros for full-time entrepreneurs and 433 (452) for part-time entrepreneurs.

Even though their earnings were slightly reduced, especially full-time entrepreneurs are quite satisfied.

– It is delightful to know that despite these hard times full-time entrepreneurs are still primarily holding up well and that they are also satisfied with being entrepreneurs, says TEK’s Entrepreneurship Expert Martti Kivioja.

Full-time entrepreneurs are still holding up well.

On a scale of 0–10, 76 % of full-time entrepreneurs stated that their satisfaction level was at least 8, and nearly 90 % said that it was at least 7.

Satisfaction was clearly lower for part-time and light entrepreneurs; only some 60 % of respondents had a satisfaction level of at least 7.

– The lower satisfaction level of part-time and so-called “light entrepreneurs” might be a result of some of them having been forced into entrepreneurship after being laid off or let go from their primary occupation.

According to the labour market survey, some 6 % of TEK’s members are entrepreneurs and nearly a third of them are doing it full-time. TEK entrepreneurship is mostly part-time utilization of one’s expertise, following one’s interests and making some extra income.

The survey’s entrepreneurship questions garnered responses from 570 TEK entrepreneurs.