Paychex Small Business Snapshot: What Business Owners Love Most About Owning a Business
- Human Resources
6 min. Read
Last Updated: 02/15/2016
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It’s easy to become stressed and ultimately completely overwhelmed when running your own business. There are countless tasks between marketing to increase sales, hiring and retaining top employees, and managing just about every aspect of the business. That can be a lot for anyone to take.
But owning a business isn’t all about stress and anxiety. Owning a business can also be a very rewarding experience, not only financially but emotionally as well. It gives the business owner flexibility, responsibility, and a chance to make a true impact on his or her community and employees.
A recent Paychex study asked business owners what they loved most about owning a business. The data collected revealed that being their own boss tops the list with 30% of respondents loving that aspect of the job the most. Meanwhile, 21% love the fact that they’re contributing to the livelihood of their employees most. Other reasons they loved owning a business included that it offers flexibility (17%), its gives them the ability to provide for their family (15%), they love a challenge (13%), and they’re contributing to the economy in their local community (3%).
There’s something to be said for the top response. Being your own boss definitely has its perks. In many ways, entrepreneurs control their own destiny and have the ability to directly impact the success of the business. Business owners who enjoy being their own boss are typically independent thinkers who thrive in a leadership role rather than taking direction from someone else. Starting a business also illustrates a willingness to take a risk. But with risk can come great rewards.
This study suggests that not only do business owners love being in control, they also care about the well-being of those working for them. One in five survey respondents love the fact that they’re contributing to the livelihood of their employees. Offering employees a chance to succeed and thrive in a healthy work environment means they’re not only earning a paycheck, but also heading home feeling good about the work they’ve accomplished.
The data cited in this article was taken from the results of a Paychex Small Business Survey, administered by Survey Monkey. The survey targeted business owners and was conducted online between January 22, 2016 and February 5, 2016.