Entrepreneurs are among the happiest individuals across the globe in terms of personal well-being and satisfaction with their work conditions. The Global Entrepreneurship Monitor 2013 Global Report found that entrepreneurship is a satisfying career choice on a global level – especially for women in innovation-driven economies. The Global Entrepreneurship Monitor surveyed more than 197,000 people and 3,800 national experts across 70 economies to assess well-being. Entrepreneurs worldwide – at both the established and early-stage phases – demonstrated higher ratings on subjective well-being compared to populations not involved in entrepreneurship activities, suggesting that entrepreneurship could be a good career choice for most.
The study also pointed out that the type of entrepreneurship matters. People driven to entrepreneurship by economic necessity are less happy than those who launch businesses to seize opportunity.
Positive Signs in the US Entrepreneurial Environment
Entrepreneurship Professor, Donna Kelley argued that the results for 2013 indicate that “the U.S. has maintained a high rate of entrepreneurship for three years running, after substantial declines in this activity in the aftermath of the recession”, adding that overall “entrepreneurship activity is stable and popular in the United States with favorable conditions in the environment for this activity”.
Almost half of Americans (47 %) think there are good opportunities for starting businesses in the United States. This in turn reveals that the U.S. has maintained a high rate of entrepreneurship for three years in a row, after significant declines in the field of entrepreneurship as a result of the recession.
Why Entrepreneurship is a Satisfying Career Choice?
There are three fundamental reasons being an entrepreneur is bound to make people happier. First of all, you get to be your own boss. Second you have a more flexible schedule. Unlike the nine-to-five jobs, having your own company you are absolutely free to make up your own schedule. This means that you can choose the hours to be on the clock. In other words, work-life balance depends on you determining how to best balance your life.
What’s more, as an entrepreneur you are making an impact on society. Entrepreneurship is a crucial economy driver and a key aspect of innovation and social change. Entrepreneurs strive for finding out how their personal strengths and passions can make a larger impact on the world and improve it in a meaningful way.
Overall, the study findings suggest that entrepreneurship is a career choice well worth the risk many are too scared to take. Fortunately, the U.S. experiences favourable conditions in the environment for entrepreneurial activity, a fact that justifies an unprecedented increase in the number of people pursuing startups and business opportunities.