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Are Entrepreneurs the Happiest People in America?

Are Entrepreneurs the Happiest People in America?
Credit: racorn/Shutterstock

Want to be happy in your career and personal life? Become an entrepreneur.

Despite the hard work and dedication required to start and run a small business, 94 percent of U.S. entrepreneurs are happy being small business owners, according to a new survey by online small business community Manta. And they aren't workaholics, either — more than 90 percent also said they have happy, fulfilling personal lives.

John Swanciger, CEO of Manta, believes that the freedom, flexibility and level of control entrepreneurs have in their careers play a large role in how happy they are.

"The satisfaction and rewards of owning a small business are as varied as the business owners themselves," Swanciger told Business News Daily. "We do see a trend in small business owners who find empowerment in creating their own economies to some extent. Regardless of the shifts in the larger economy and its effects on job security, small business owners are uniquely positioned to control their earning potential. And, there's always the satisfaction that comes from turning your passion into a career."

Swanciger noted that the high rate of happiness among small business owners could also be attributed to a stronger overall economic environment. Manta's latest Small Business Wellness Index, which polled more than 1,150 Manta users, found that 87 percent of business owners feel optimistic about their business prospects in 2015. [10 Entrepreneurs Share Must-Know Tips for New Founders]

This confidence could be why more than half of the survey's respondents said they'll be hiring this year. Sixty percent of small business owners plan to make part- or full-time hires in the next 12 months, up significantly from the 35 percent who added to their staff in 2014. These business owners are ready to face the challenges that come with recruiting and training new employees, and look forward to bringing on new team members as their company expands (24 percent) or to boost sales and productivity (21 percent).

What would make entrepreneurs even happier than they are now? An overarching goal of many small business owners in 2015 is to improve both their businesses and their personal lives. Half of the respondents have resolved to acquire new customers this year, and 33 percent want to increase their revenue. On the personal side, entrepreneurs want to spend more time with friends and family, with nearly 30 percent of respondents citing this as their top resolution.

For more results from the Small Business Wellness Index, visit Manta.com.

Nicole Fallon

Nicole received her Bachelor's degree in Media, Culture and Communication from New York University. She began freelancing for Business News Daily in 2010 and joined the team as a staff writer three years later. Nicole served as the site's managing editor until January 2018, and briefly ran Business.com's copy and production team. Follow her on Twitter.