Another Monday dawns on the small business world, and as you reach for that cup of coffee and start your day, you may be feeling a little bedraggled. However, there’s reason to cheer up: according to recent and historical survey data, being a SMB owner means that the Monday blues might be counterbalanced by a significant positive impact on your overall emotional wellness, happiness and quality of life.
Accounting software developer Intuit Canada recently released the results of a study claiming that 79 per cent of small business owners are happier, and 65 per cent are less stressed now than when they worked for someone else. Consequently, more than half (57 per cent) feel their work-life balance has improved since starting out on their own, and 45 per cent feel better about their financial futures since becoming an SMB owner. A 2008 Ipsos Reid poll of Canadian small business owners, conducted on behalf of American Express, finds that nine in ten (89%) ‘agree’ (38% strongly/51% somewhat) that they ‘love to get up every day’ to do what they do.
Small business employment isn’t just good for the business owners, either: in a joint study of Russian local economies published in March 0f 2015, Dina Clark and Natalia Filimonova concluded that “Employment in [the] small business sector is an essential factor in improving quality of life (QOL) for a region. Successful small businesses require human, financial, technological investments and result in improved QOL.” In Canada, a report by the Canadian Policy Research Network stated: “nearly one in four [of those surveyed] recognized the importance of providing support for small business as important to quality of life. Those participants who discussed the issue generally viewed a healthy business community as vital to providing jobs and security, and otherwise contributing to the overall community.”
What motivates you as a small business owner? Is it the drive to be your own boss? The ability to do what you love? The freedom to make decisions? Commitment to your local community? No matter what the reason is, you deserve to feel the good vibes rather than be wrapped up in the hard stuff. Your business can benefit from easier cash flow management, improved inventory processing, and getting those last few to-dos on your list done faster with a business loan from Merchant Advance.