26+ Business Coaching Statistics Must Know in 2024

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Business coaching has become an essential tool for entrepreneurs and executives looking for growth, improved performance, and a competitive advantage in the market.

But just how impactful is business coaching in driving success?

With that in mind, we’ll cover key business coaching statistics that show its significant benefits.

Business Coaching Statistics: Key Numbers

The ROI for executive coaching was 788%.
There are 64,438 businesses offering coaching services in the USA as of 2023.
77% of respondents said coaching had a significant impact on one of nine business measures.
86% of organizations saw a return on investment from their Coaching engagements, and 96% of those who worked with an Executive Coach said they would do it again.
70% of coaches claim to boost communication and job performance.
One in every six entrepreneurs seeks coaching to improve their performance.
Top performers make up 33% of founders who receive mentoring from successful business people.
Only 22% of business owners have mentors when they first launch their companies.
92% of small business owners concur that mentors directly affect their ability to grow.
30% of company owners who engaged in just one mentoring interaction reported growth.
Self-confidence growth is the most frequently reported advantage of business coaching (80%).

Sources: (Gva Success, Ipec Coaching, Institute of coaching, Forbes, Techcrunch, Kabbage, Score, Upcoach)

How Many Business Coaches In The Us

There are plenty of qualified business coaches in the US to accommodate the growing demand. According to IBISworld, there were 64,438 businesses offering coaching services nationwide as of 2023. That number is up from 63,068 in 2022, representing a 1.6 percent increase overall.

Top Business Factors for Seeking Coaching Services

25% seek coaching for business management.
18% seek coaching for work performance.
18% seek coaching for interpersonal skills.
18% seek coaching for communication skills.
14% seek coaching for personal organizations.
12% seek coaching for team effectiveness.
10% seek coaching for time management.
4% seek coaching for corporate culture.

Sources: (ICF Global Coahcing Client Study)

Impact of Business Coaching Statistics

Business coaching leads to an increase in productivity by 53%.
Business coaching results in increased customer service by 39%.
Business coaching improves the retention of senior people by 32%.
Business coaching causes a reduction in costs by 23%.
Business coaching contributes to an increase in bottom-line profitability by 22%.

Sources: Coach Fonudation

The Value of Business Coaching Statistics

24% of business owners trust a business coach when it comes to important issues affecting their business.
Business coaches are second-most trusted (24%), behind fellow business owners (31%).
31% of respondents believe that strategic planning is the area where a business coach would have the most impact.
61% of respondents rated the impact of their business coach as 7-9 on a scale of 10.
The greatest benefit of receiving business coaching is accountability (31%), followed by growth and profitability (30%), and discussing concerns (26%).
46% of business owners would be more likely to retain the services of a business coach when the market is strong, compared to 54% when the market is weak.
The most reliable method of finding the right business coach is through personal referrals (85%).
53% of respondents believe that reviews and testimonials from those who have used coaching services provide the greatest assurance before choosing a business coach.

Source: (TAB)

Top Skills CEOs are Actively Developing through Coaching

27.9% of CEOs are working on conflict management skills.
23.3% of CEOs are working on mentoring skills/developing internal talent.
20.9% of CEOs are working on listening skills.
18.6% of CEOs are working on planning skills.
18.6% of CEOs are working on communication skills.
14% of CEOs are working on interpersonal skills.
9.3% of CEOs are working on decision making skills.
9.3% of CEOs are working on persuasion skills.
7% of CEOs are working on compassion/empathy skills.
7% of CEOs are working on motivational skills.

Source: HBR

We hope you enjoy our business coaching statistics page that shows the essential role coaching plays in improving business performance, leadership skills, and personal growth for entrepreneurs and executives alike. To learn more about businesses, check out here: https://www.businessdasher.com/business-statistics/