Small business owners are “happier and more determined”
Research ahead of Small Business Saturday reveals UK’s small businesses have a positive outlook, with 79% expecting to grow over the next year
Starting a small business can make you happier and more determined, according to new research from the organisers of Small Business Saturday – the national enterprise campaign taking place on Saturday 3 December.
Of those surveyed, 66% said being their own boss made them happier, 59% claimed to be more determined and 49% were more confident.
And while 44% of respondents said they were working longer and 46% that they were working harder, less than 25% said they were more stressed than in their previous job, with 17% reporting lower stress levels.
71% of small business owners stated that their business had grown over the past 12 months and 79% that they expect it to grow over the next 12. Over 75% of those surveyed said it was important, or very important, that their business has a positive social impact or contributes to their local community, while 78% regularly collaborate with other local small businesses.
The most common reason for starting a business was wanting to turn a passion or hobby into a business (39%), with 20% claiming that starting a business had always been an ambition and 15% that it was the best option after redundancy or unemployment. Another 15% said it was the next logical career step.
Doing something they love was chosen as the best thing about running a small business (26%), with 18% citing a feeling of accomplishment and 16% being their own boss.
This is the fourth year for Small Business Saturday, which looks to promote and celebrate the UK’s small business community. Last year saw £623m spent across the day – an increase of 24% on the previous year – with 100,000 tweets in support of the day reaching an estimated 25 million people.