A large number of small business owners report feeling contentment and joy in their lives. According to a Happiness Index survey conducted by Vistaprint, an impressive 77% of small business owners are “happy or extremely happy”. This is despite the fact that starting a business can be a daunting task, with the Bureau of Labor Statistics reporting that the business survival rate drops to just over 50% in the fifth year of operation. However, many entrepreneurs are undeterred by the pressures of the recent recession, with 87% saying that within five years, they are likely to continue running their own business.
This is likely due to the sense of pride and accomplishment that comes with owning a business, as 81% of business owners say that their happiness is due in part or in whole to being an entrepreneur. 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. They report that entrepreneurs and freelancers have good news for potential business owners. Despite the challenges of entrepreneurship, such as managing budgets and cash flow, taking on responsibilities and risks, and long hours and limited free time, 77% of respondents said they are very happy and plan to continue their business.
Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. They suggest that designing a business around your interests and skills can help you achieve happiness. In addition, they recommend finding the money to make your dreams come true, as this can be one of the biggest obstacles when starting a business. Overall, it appears that small business owners are content with their lives.
Despite the challenges associated with entrepreneurship, most are still willing to take on the risks and responsibilities associated with owning their own businesses. With the right attitude and dedication, it is possible for small business owners to achieve happiness.