Starting a small business makes people “happier and more determined”, survey reports

A recent survey has unveiled that 66% of respondents were happier being their own boss, and 59% are more determined since taking the reins.

The survey was undertaken by organisers of the UK’s Small Business Saturday, which this year falls on 3rd December. It also reported that 26% of business owners cite getting to do what they love as the best thing about being a small business owner in the UK today.

It’s not all plain sailing though, as 44% of survey respondents said they were working longer than in their previous job, and 46% said they were working harder. Just under a quarter said they were more stressed than at their previous job compared with 17% who report having lower stress levels since starting their own business.

Optimism is rife among small business owners, 79% of whom expect their businesses to grow within the next year and 71% of whom said their business has grown over the past 12 months.

The most common reason for starting a new business was to turn a passion or a hobby into a business venture (39%), while 20% claimed it had always been an ambition and 15% turned to becoming their own boss after redundancy or unemployment.

More than three quarters said it was important for their small business to have a positive social impact on the local community, with 78% claiming they regularly collaborate with other local business.

Community spirit

Small Business Saturday is all about bringing the focus back to small and local businesses. Now in its fourth year and the UK’s most successful small business campaign, it looks like they’re doing a pretty good job.

Last year the campaign saw £623m spent on the day; an increase of 24% on the previous year. It’s not difficult to see how, as an estimate of 75% of local authorities actively support the campaign on the day in one way or another.

Will you be taking part in Small Business Saturday? Leave us a comment and tell us about your plans in the comment section below!


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