I guess you’d have to be living under a rock to miss the “Great Resignation” sweeping through the business world post-pandemic. Well, what you may not realize is that almost half of those looking to quit or who have already left are looking to start their own businesses. They may have a really good reason for doing so. Are entrepreneurs really happier? Let’s take a look at all the research.
Yes, yes we are healthier! A Baylor University study found that as the number of small businesses increased in a geographic area, the health of the community went up in tandem. For example, at a place called Summit County in Colorado, apparently an area with an inordinately high number of entrepreneurs, mortality, obesity and diabetes rates are less than half the US average! In many other studies, business owners have significantly lower physical and mental illnesses, less hospital visits and higher life satisfaction.
A Wharton study of its 11,000 graduates found that the happiness levels of their past students didn’t depend on how much money they were now making. The biggest predictor of their happiness was if they owned a business or not. Regardless of their income.
Size Doesn’t Matter
In matters of happiness, apparently the old adage is true: Size doesn’t matter! A Swedish study of 1,000 small business owners found that owners of bigger companies had bigger financial satisfaction but more stress about staff and the lack of time. However, they were still happier than employees.
Why So Happy
The 2 biggest reasons for this unbounded joy according to yet another study of 22,000 business owners in Europe, was finding deep meaning in one’s work and the autonomy of decision making.
The freedom is contagious folks, I know that no matter what happened, I am permanently unemployable now. And it thrills me.