Wednesday, September 16, 2009

"Business Owners Smile More Often"

According to a new Gallup survey of occupational happiness, small business owners have the highest overall level of well-being. From Gallup's press release:
The high well-being of self-employed business owners is particularly interesting in light of recent findings that business owners work longer hours than do people in any other occupational category. Their high well-being, despite working longer hours, supports Gallup research showing that working long hours is only highly detrimental to well-being for those who are less engaged in their work. In terms of income, business owners, on average, make slightly less than professionals and managers/executives, but still eclipse these groups in well-being. The three occupations highest in well-being are, in fact, those with the highest household income.
Additional coverage in the WSJ. This seems to mesh with Scott Shane's work showing that many entrepreneurs are motivated to start a business simply because they don't want to work for anyone else. While overall they may not form high growth firms, they fare well financially and enjoy being their own boss.

The rest of the results:

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