Starting a Business? You Need to Love It.

Here is some interesting information from Dennis Jacobe, PhD – Gallup’s Chief Enconomist:

• Fifty-seven percent of small-business owners say they work six or more days each week. In sharp contrast, only 7% say they work fewer than five days each week.
• Sixty-two percent of small-business owners say they work 50 or more hours each week. On average, small-business owners put in 52 hours each week.
• On average, small-business owners say they take about two weeks of vacation each year. Six in 10 say they just enjoyed their last vacation, and didn't do anything work-related. Of the 39% of small-business owners who did work while on their last vacation, 8 in 10 (81%) say they made or returned business calls, and half (52%) initiated or returned e-mail.
• Two in three small-business owners (67%) are satisfied with their ability to achieve a positive work-life balance. And a similar percentage (65%) feel they are able to make the time available outside work to do the things that are most important to them.
• Ninety-four percent of small-business owners say they are at least somewhat successful, 87% say they are at least somewhat satisfied with being small-business owners, and 84% say they would still become small-business owners if they had to do it all over again. However, becoming a successful small-business owner asks a lot of the individual and his or her family.
• Given the long hours, being a small-business owner is not a 9-to-5 job. In order for small-business owners to achieve a positive work-life balance, their families must be willing to find ways to make work a part of their family life -- hence the fact that many small businesses are also "family businesses."

The source of this information is the Gallup Poll.  You can find Dr. Jacobe’s entire article by clicking here.

 

Comments

[Martin (HomeOfficeVoice)]

Interesting survey. What it clearly shows is that running your own business is damn hard work, but quite rewarding.

[Jose]

Very true... Some people are born for the hard work of having a business by themselves. Some other people are born for working hard for someone else, but with less stress.

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[Dave L]

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