American Express published its semi-annual survey of small business owners. Some key findings:
- 87% currently have a positive outlook on the economy and their business
- Hiring plans are stable with little pressure to adjust wages upward
- 81% are satisfied with the amount of leisure time they have
- 64% find it stressful, however, to balance personal and work lives
- 59% exercise several times a week
- Female owners are 5 times more likely to come up with good ideas while exercising than male owners.
- More than a third report that their best ideas come up during downtime
- 89% report a happy marriage or relationship with significant other
- 81% believe that being an entrepreneur contributes to a happy marriage/relationship
- 80% take into consideration how decisions affect employees and their livelihood
- 61% of parents would like their children to join the business
- 57% feel they are financially on track toward their retirement
Entrepreneurial families may be the most effective means of caring for the people in our lives
We’ve written that the word economics comes from the Greek, oikonomia — literally the management of a household or oikos. We’ve also mentioned that jobs are a fairly recent invention, arising out of the industrial revolution. This survey does not compare these business owners to employees, but in terms of health, satisfaction, balance, marriage, and family, there’s something positive to be said for the entrepreneurial or oikos life in spite of the perceived risks. This is especially true of the ability to live an integrated life across all the dimensions (including the spiritual) and to care for one's family across generations.
In a time of growing economic volatility and challenge, entrepreneurial families may be the most effective means of caring for the people in our lives.
