A staggering number of small business owners claim to be “happy.” More than 90 percent say running a business makes them happy. But 93 percent are also happy in their personal lives. Seventy-seven percent of small business owners are “happy or extremely happy” according to a Happiness Index survey conducted by Vistaprint a few years ago. I think that will be one of the biggest challenges, since small businesses don't have the big budget for the best, but still that doesn't mean that a high wage supply will attract the right one.
One of the biggest obstacles when starting a business is finding the money to make your dreams come true. However, according to the Bureau of Labor Statistics, the business survival rate drops to just over 50 percent in the fifth year of business. This is substantially lower than 43 percent of small business employees who report being happy at work. Perhaps this shows that there is something to be said for designing a business around your interests and skills.
In addition, the pressures of the recent recession have not deterred small business owners from starting up, with 87 percent saying that within five years, they are likely to continue running their own business. But the people at the consulting firm Emergent Research have good news for entrepreneurs, freelancers and potential business owners. The Delaware Division of Small Business, part of the Delaware Department of State, is a service-focused agency committed to supporting businesses starting and growing in Delaware. However, 77% of respondents said they are very happy and plan to continue their business.
In fact, 81 percent of business owners say that their happiness is due in part or in whole to being an entrepreneur. Starting your own business has many satisfactions: building a legacy, creating wealth, offering a product that makes the world a little better. Of course, small business owners are familiar with the challenges of entrepreneurship and cite the top three as managing budgets and cash flow, the responsibilities, risks and stress associated with owning their businesses, and long hours and limited free time. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them.
However, the sense of pride and accomplishment they gain as small business owners is combined with a deep commitment to the office, with most working 50 hours or more each week, and 39 percent say they work 60 hours or more.