More than half of small businesses owners (52%) say the top reward of owning a company is having the freedom to control your own destiny, according to a recent report from Manta.
Other benefits frequently cited by small business owners include not having a boss (23%) and increased self-confidence (7%). Only 4% of small business owners surveyed say money is the top reward.
Nearly three-quarters of respondents (72%) say owning their own company gives them more freedom, though 21% say they now have more responsibility and less independence as a small business owner.
Below, additional key findings from the report, which was based on data from a survey of 1,105 small business owners in the United States.
Barriers to Independence
- 29% of respondents say the performance of the overall economy is the biggest barrier to their independence as a small business owner.
- 28% say marketing/worrying about new customers is a major barrier to feeling free; 20% cite worrying about money/financial stability; and 7% say the fixed costs necessary to run their business are a major issue.
Technology
- 39% of respondents say the Internet is the technology most critical to maintaining their independence as an entrepreneur.
- 32% say their mobile phone is the most important piece of tech that enables freedom.
Small Businesses in 2014
- 68% of respondents say the first half of 2014 was a successful period for their small business.
- 83% are optimistic about their business prospects for the second half of 2014.
For more findings from the survey, check out the infographic:
About the research: The report was based on data from an online survey conducted between June 4 and 10, 2014 of 1,105 small businesses owners in the United States who are members of Manta.com.
