Starting a business doesn't make most people rich, but it makes many people happy. Despite appalling failure rates, long hours, low incomes, high stress levels, and a host of other problems, entrepreneurs report consistently higher happiness rates than salaried employees. Happy businessmen at a meeting supporting each other. Those who ran their own businesses were the happiest of graduates, no matter how much money they made.
Joachim Merz and Tim Rathjen presented a paper based on the German Socioeconomic Panel that concludes that, although poor entrepreneurs can earn income above the poverty (income) line, they are often still poor in other dimensions of well-being, such as time, that is, in essence, their sense of vitality, which has proven to be an important driver of motivation, performance, creativity and action, all of which are “crucial to initiating proactive and innovative behavior, while equipping entrepreneurs with “the energy to persist and overcome barriers”. You can even say that you are much happier as an entrepreneur than you were in a safe job, but it probably took you time to get there. People who are entrepreneurs own their decisions and take calculated risks, not crazy ones, to achieve their goals. Although they laugh, entrepreneurs don't laugh until the bank, because the average earnings of self-employed workers in the UK are lower than those of salaried workers.
The data supports his claim, as it is revealed that entrepreneurs are planning to increase capital investments, hire staff and increase the use of low-cost methods such as social media to attract new customers. By acting to control their time and destination as much as possible, employees can reap some of the same benefits as employers. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. I discovered this joyful fact when I stumbled upon an interesting post about the physical health of blogger entrepreneur and businessman James Clear recently.
It is these peaks that most worried researchers, which is why they analyzed interviews with more than 1,700 entrepreneurs from 29 countries. While it's a good corrective to know that entrepreneurship stress probably won't necessarily hurt your health and happiness, it's also important to note that these findings aren't just a good reason for founders to gloat. For entrepreneurs, if you can handle the added burdens of running a business, the benefits can be incredible for your career, your family, and your bank account. While it is clear that there are some entrepreneurs who suffer from mental illness (and their experiences are worth discussing openly), science says that, on average, entrepreneurs are happier and healthier than employees.
The World Happiness Report noted that entrepreneurs around the world are constantly facing the additional stress that comes from running a business.