Most small biz owners say they’d never work for someone else again
For all the issues they face, small business owners seem to really love what they do.
According to one company’s survey of small business owners, 86 percent love their work, and 82 percent find the rewards of running their own shop greater than the challenges they face.
They like having control, flexibility, and the chance to pursue a dream. And, when things work out, the money, too.
And how about this: when asked, “Would you ever go back to working for someone else?” 56 percent said, “Never!”
It’s not all perfect in entrepreneur-land, though, according to the Wave 2012 Small Business Report, conducted in an online survey this spring by Wave Accounting, a Toronto-headquartered, cloud-based accounting software company for micro and small businesses.
One-half of respondents said they underestimated how hard it would be to be their own boss. Among the challenges owners mentioned facing in the last year: not enough income to meet the needs of their family; the cost of doing business; competition.
Yet, only 4 percent said they would have never gone into business for themselves if they’d known in advance about the difficulties they’d face.
The biggest challenge they face overall, however, is finding balance between their work life and home life. Two-thirds said they struggle in this area.
One other interesting finding from the survey: 15 percent of owners said they started their business after they found themselves unemployed and unable to find a job.
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10 comments Add your comment
Independent voter
June 25th, 2012
10:54 am
you generally go from 40 hr./week to 60 + hr./week… its a gamble .. ( struggle ) that most Labor Union workers just don’t understand… but you can make more $$$$$ you will also go from a democrat to a repulican when you learn the gov’t rules/ regulations/ taxes etc.. free market capitalism made our country the 20th century power.. maybe not in the 21st ????
Mary
June 25th, 2012
11:36 am
It’s great for the owner, but not for the employees. No benefits, lousy pay, bad experience.
yard man
June 25th, 2012
3:22 pm
Mary… negative attitude.. to be successful you need to think like an entreprenuer… start a business !!! cleaning service, baby sitting, food service.. I was out of work a couple years ago.. started mowing lawns.. business grew into landscaping, irrigation systems, etc.. clearing over $50 K ++ benefits.. company truck.. etc.. wife waits tables at Outback makes $40 K 35 hours / week.. get busy !!
BUCKMASTER
June 25th, 2012
6:07 pm
@ Yardmaster…..
Your wife makes 40K @ OutbACK FOR 35HRS…… she is getttin busy……………….
yard man
June 25th, 2012
6:31 pm
We can all do it !! but you have to take what is available !!! a general college degree is not worth much.. you need a trade.. engineer, electrician, plumber, nurse, or food service.. forget a resume.. get to work
Eric
June 25th, 2012
7:02 pm
Its now to some degree who do you what to work for. On outsourcing site like odesk, elance and peopleperhoue its your proposal that counts.
Mike
June 25th, 2012
9:35 pm
I’ve been self employees for 12 years operating a restaurant and prior to that working for a large company selling industrial equipment. When I worked selling industrial equipment, my performance was directly tied to over a few hundred other folks doing their job right and when things went bonkers, there were a lot of people I could point the finger at for dropping the ball. Now, I love it. I can only look in the mirror when problems arise. I love only having myself to blame. I do very well, and that’s because I have a great staff.
AtlantaSky
June 25th, 2012
10:52 pm
On the precipus of small business ownership, and this article is helpful/inspiring. 20 yrs in medical imaging and after all the politics and bureaucracy, I’m determining that I don’t play the part of
’sheep’ very well anymore. Venturing into a niche market for a specific industry that has zero competition here in Atlanta. Very psyched. One response from my mass marketing mailing on Friday covers my entire start-up expenses. Naive? Maybe, but my enthusiasm will prevail. I’m fairly sure I’ve covered all the possible pitfalls. We’ll see.
Pool Boy
June 26th, 2012
8:45 am
Don’t listen to yard man, people; he knows not of what he speaks. In my imaginary world, I clean pools and clear $100K annually, while my wife makes $75K bartending at Applebee’s 20 hours a week. Pool maintenance and Applebee’s–that’s the ticket!
Bill Dueease
June 28th, 2012
10:50 am
Amen to enjoying being the boss as a small business owner. The ups and downs of being a business owner can be unsettling, but the ability to directly affect changes and new results is worth it. Taking full responsibility of my business gives me the control I want to run my business my way, without having to deal with the politics of working for others. Being a business owner is not for complainers, politicians or excuse seekers.