Why 77% of small business owners are happier than the average employee- 21 Feb
Seventy-seven percent of small business owners are “happy to extremely happy” according to a happiness index survey conducted by Vistaprint a few years back.
While this statistic itself might not be that surprising, let’s take a look at the details of the business owners who were surveyed for this index…
They were all micro-business owners—meaning that they have between 1 and 10 employees, gross less than $100,000 a year, and are typically run out of the home. Yet a full 77% of respondents said they’re extremely happy and plan to continue running their business.
Even with 44% who say they’re working more hours than they did this time last year. And 65% who reported they worked at least every other weekend.
So if they’re working more right now and not seeing huge benefits yet, why are they so happy?
Well, maybe they have good reason to be. The Small Business Optimism Index for January of 2018 conducted by NFIB is at the highest it’s been in 45 years, with a record number of small business owners saying now is a good time to expand.
Forbes’ William Dunkelberg says that this is the happiest small business owners have been since 1983.
Concerning the record high, NFIB President and CEO Juanita Duggan said, “Main street is roaring. Small business owners are not only reporting better profits, but they’re also ready to grow and expand. The record level of enthusiasm for expansion follows a year of record-breaking optimism among small businesses.”
But, it’s not just the timing that’s got these business owners smiling.
TD Small Business’ study showed several reasons for small business owner’s high levels of satisfaction:
-97% said owning a small business gives them a sense of pride and accomplishment
-91% feel a deep personal connection to their employees
-84% feel that same deep connection to their customers
-86% said owning a small business gave them the opportunity to volunteer their time or make donations to charities, sports teams and events
Sastry Rachakonda, director of Discover’s small-business card, said, “As we’ve gotten more familiar with small-business owners, we realize [entrepreneurs] care about independence more than anything else.”
To quote a small business owner, Sarah Lawrence, founder of Black Sheep Boutique:
“Just go for it. Don’t be afraid. You’re always going to wonder, ‘What if?’”
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