POV

Shopify wrapped: The best of entrepreneurship in 2024 and beyond

December 20, 2024

As the frenzy of holiday shopping fades, most of us are preparing to wind down and cozy up. For entrepreneurs, it’s a different story. Business owners everywhere are still working around the clock to fulfill orders and make holiday miracles happen.

In 2024, Shopify merchants beat Black Friday weekend records with $11.5 billion in sales—but they also succeeded in less tangible ways. Some supported their local communities, found balance, or bounced back after failure. Others filled gaps in the market and advocated for world change.


But what do these achievements tell us about entrepreneurship’s next act? What do the trends of 2024 mean for merchants in the new year? These are our predictions for 2025.

1. Entrepreneurs are ready to take (calculated) risks

More than half* of U.S. adults who haven’t seriously considered starting a business say that financial risk is the biggest deterrent. And risk of failure can hold many back. “A lot of times your worst enemy is yourself,” says Wil Yeung who overcame failure to build his plant-based cooking empire.

Risk is part of every successful entrepreneur’s journey. We predict that more aspiring entrepreneurs will take the leap as the paths to entrepreneurship, ease of use of technology and AI tools, and access to capital all continue to increase.


In 2024, 41%* of entrepreneurs reported they started their business on the side while working full time—a less risky path than going all in, all at once. This was the case for 35mm Co. founder Madison Stefanis who started her business while in school and holding down a job.

“I've always been pretty open to risk,” she says. “I just think that when opportunities come your way, you need to take them.” 

2. Founder-led companies are the future

Nick Bare stepped out of his role as CEO of Bare Performance Nutorition, only to return to it a few months later. “When you have that real vision coming from a founder, it's very powerful for culture,” he says. But it’s not only employee sentiment that benefits from an engaged founder at the helm. More than half* of consumers say it’s important to buy from a real person.

A founder’s face in front of a brand sends signals of authenticity to consumers. 92% of Gen Z respondents in one study said that authenticity is more important to them than any other personal value. Leading with transparency and vulnerability can go a long way with this cohort as they gain more buying power.

BK Beauty co-founders Paul and Lisa Jauregui brought their followers inside their business, sharing behind the scenes footage and celebrating every milestone publicly. And it paid off.


Often founder-led brands amass loyal communities of those who share their values or seek to support the person behind the products. And community is a powerful lever for brands. Nearly one in five** young shoppers aged 18-24 say they’d switch brands to feel part of a community.

3. Strong brand values are no longer a “nice-to-have” 

Year over year, young consumers prove they support brands for more than their products. As these generations gain more purchasing power, brands should adapt to survive.

“People are going to see really quickly that if they do not focus on sustainability and transformation in the coming future, they're not going to have access to the consumer base and the capital they require to grow.” says Thesus co-founder Sofi Khwaja. 

Almost a quarter** of shoppers aged 18-24 said brands could retain their loyalty over the holiday shopping season by demonstrating a commitment to brand values around sustainability or social causes. This is also critical for hiring practices with 75% of Gen Z reporting they check employers’ social impact before applying.

“You can change the world just one person at a time,” says Partly Sunny Projects founder, Sonja Detrinidad. “I've had people come back and say, ‘Because of you I started a community garden!’”

4. Innovation won’t move forward without entrepreneurs

Terri Bradley's upbringing lacked toys that represented her. She also struggled in the toy aisles to find them for her own kids. “Since necessity is the mother of invention, one day I asked myself ‘why don’t I create it?’” says the founder of Brown Toy Box. Almost a quarter* of entrepreneurs start a business for this same reason.

As political turmoil, climate change, and world events divide us, individuals can effect real change by starting small and collaborating on innovative solutions for big global problems. This desire for change will inspire entrepreneurs to keep pushing the boundaries of what’s possible beyond 2024.

5. Flexibility will attract more founders

The cost of living drives many families to find extra sources of income, but parents and caregivers need flexibility to manage work-life balance. In fact 42%* cite flexible work schedules as their reason for starting a business. And, younger generations entering the work force are seeking an alternative to the 9-to-5 grind.

We predict this desire for flexibility will drive more people to entrepreneurship in 2025 and beyond. Don’t get us wrong: starting a business is a lot of work. But when it’s your business, you decide when and how that happens. 

For Callie’s Hot Little Biscuit founder Carrie Morey, setting her bakery’s hours around her kids’ schedule was an unlock. “If I was the only one working in the restaurant, I could drop my girls off at 7:30 and then be in the carpool line to pick them up,” she says.

As AI tools like Sidekick become more powerful, running a business will offer even more flexibility. “Shopify allows us to get more done with less time,” says Christy Dawn co-founder Aras Baskauskas. “When you're starting a business, time is the most precious commodity you have.” 


As we say goodbye to 2024, we’re excited to ring in another new year with the millions of Shopify merchants that trust us with their businesses. Whether you dream of changing the world or starting the next trend, we’re right here beside you building the unified tools you need to thrive in 2025.


*Results for the Gallup entrepreneur poll are based on responses from a survey of 46,993 U.S. adults (18+ years old) conducted online May 1-14, 2024. All participants are members of Gallup’s probability-based, nationally representative panel. 

**Survey conducted among 18,000 consumers in Australia, Canada, France, Germany, Italy, Japan, Spain, the UK, and the US. The interviews were conducted online by Sapio Research in August 2024 using an email invitation and an online survey.

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