Are Entrepreneurs Happier? The Benefits of Starting Your Own Business

Despite the high failure rates, long hours, low incomes, and high stress levels associated with entrepreneurship, research has consistently found that entrepreneurs report higher levels of happiness than salaried employees. This is due to the “commitment to purpose in life” that entrepreneurs have, as they are not limited by the rules and procedures of an employer and can pursue activities and goals that they find personally meaningful and satisfying. Starting your own business can make you happier, and even more so if you employ people. In addition, there is a positive correlation between the degree of entrepreneurship in a society and its national level of happiness. Entrepreneurs take calculated risks to achieve their goals, and this can lead to a wide range of emotions from anger to optimism, fear to delight, and anger to passion.

Researchers have analyzed interviews with more than 1,700 entrepreneurs from 29 countries and found that they possess “positive energy and a state of physical and mental life”.It is important to note that these findings are not just a good reason for founders to gloat. The data supports the claim that entrepreneurs are planning to increase capital investments, hire staff, and use low-cost methods such as social media to attract new customers. You don't have to be an entrepreneur to think like one, and if you do, you should see a boost in your mental and physical health. The study also shows that fewer entrepreneurs are concerned about their ability to save for retirement (45 percent compared to 53 percent in 201). José María Millán and his co-authors found that although entrepreneurs are more satisfied with the type of work they do, they tend to be less satisfied with the security it offers. So even if you're not an entrepreneur, you can still be happier and have those feelings of accomplishment without the negative impact on your mental health.

It may take some time to get there, but the benefits can be incredible for your career, family, and bank account. Entrepreneurs may still face insignificant and repetitive work, particularly in the early stages when they are an expert in all trades. However, these less inspiring tasks are subsumed by the more inspiring “meaning” that entrepreneurs attribute to their work.