Ask just about anyone what he or she truly wants out of life, and you’ll get the same answer the majority of the time: happiness. What else is there if you are not happy, right? Many people chase happiness their whole lives and find great satisfaction in the thrill of the chase. It’s not always about money, they claim, it’s about pursuing a dream.
Of course, for many others, financial wealth is the key to happiness. And for those who may be a little bit more down to earth, good health is the key to a happy life. Whatever your primary source of happiness is, if you are an owner of a small business in Canada, chances are you are in a good mood right now. At least, this is what we have come to understand based on an article published today by QMI Agency’s Sharon Singleton.
According to Singleton, small business owners are among the happiest workers in all of Canada. She writes that approximately 62 per cent of small business owners are “very happy”. Only one per cent consider themselves to be “very unhappy”. This information is based on a recent TD Bank Financial Group poll.
The poll found that nearly 90 per cent of all Canadian small business owners feel they are happier than they would be if they were working for someone else. Interestingly, the highest rate of happy entrepreneurs, says the poll, can be found in Calgary, Alberta.
Writes Singleton: “Geographically, Calgary came out on top, with 30% of the business owners reporting they are “very happy.” Montreal came in second with 29% and Ottawa third with 26%.”
The TD Bank poll surveyed business owners who employ between five and 50 people across 12 cities in North America. It noted that in the U.S., small business owners are even happier than their Canadian counterparts. 69 per cent of American small business owners consider themselves to be “very happy”. Apparently, being your own boss and setting your own schedule are major factors in keeping a person pleased on the job.
According to Alec Morley, senior vice-president of small business banking at TD Bank: “Small business owners tell us that owning a business has many advantages, despite the day-to-day challenges that come with running a company like red tape, property taxes and attracting and retaining talent.”
We have mentioned, in previous blogs, that small businesses in Canada have the greatest impact on the national economy. Perhaps, that too, is a reason these entrepreneurs are so contented. They certainly have a lot to be proud of. The poll also found that happy business owners are more likely to keep running their businesses in five years when compared to those that are unhappy.
“The downside to owning a small business,” concludes Singleton, “may be the long hours involved. The majority of owners said they worked 50-hour weeks, with 19% saying they work as many as 59 hours and 38% saying they work 60 hours.”