A staggering number of small business owners claim to be “happy.” More than 90 percent say running a business makes them happy. But 93 percent are also happy in their personal lives. Seventy-seven percent of small business owners are “happy or extremely happy” according to a Happiness Index survey conducted by Vistaprint a few years ago. There's even the option of using your current retirement funds as business capital without having to give two weeks' notice.
It's helpful to know the information about how many business owners are successful, whether in terms of profitability, time in business or happiness, but what aspiring business owners need to focus on to make an impact on their own future success are the challenges faced by companies. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. In specific numbers, 74 percent say they need to hire staff to run their growing business or to help increase turnover (72 percent). The American Express OPEN Small Business Monitor, conducted since 2002, is based on a nationally representative sample of 700 U.
I like working with business owners who see the value of creating more focused marketing communication and not doing things for the fun of it. By focusing on this important business challenge, entrepreneurs can have a significant impact on their own success rate. However, finding the right people remains the biggest challenge (26 percent, up from 19 percent last year) for companies. The TD Bank survey, which explored the attitudes and behaviors of North American small business owners in a dozen metropolitan areas in the United States and Canada, further revealed that nearly 9 out of 10 U.S.
small business owners are happier to own and manage their own business in compared to working for someone else. Not only are small business owners reporting better benefits, they're also ready to grow and expand. So to understand what percentage of entrepreneurs are successful, let's take a step back to consider what success means for different types of businesses and look at the most recent data available. For example, the business owner may have a 5-year plan that involves selling or unrolling the company to make a profit.
Not only are small business owners very likely to be happy in their new career, but taking the right steps to build a strong foundation for the company can also lead to financial success. But, while there is an inherent risk in any commercial venture, we've seen firsthand that the success of a small business comes down to preparing, planning, and choosing the right business for you.