Why 91% of Small Business Owners Are So Happy | Small Business USA

American small business

Running your own business comes with stress, frustration and headaches. But most owners wouldn’t trade it for anything in the world.

Sunday, July 14, 2024 09:00 EDT

Around 91% of the 1,290 business owners recently surveyed Staff scheduling software maker Homebase said it was happy with its jobs. Who are these happy people? And why are they so happy?

It’s not the small business story we usually hear. The National Federation of Independent Businesses says small business owners’ optimism has been below average for 29 months and their uncertainty is the highest it has been since 2020. Small businesses are “struggling“to pay the rent and”accumulating” credit card debt. Many are “Facing the recession”, some say “can’t survive” and others say they are “feeling the pinch” either “Caught in an economic nightmare“.

My clients complain to me all the time. They say their employees don’t show up for work. They tell me their suppliers don’t ship supplies on time. They have customers who skimp on their profits, delay their payments, or just don’t pay at all. Their accountants tell them to pay taxes with money that’s already been spent on inventory. They have to deal with health insurance, workers’ compensation, logistics, duties, liens, finance fees, commissions, and all the other little costs that add up to big expenses. They typically work long hours in dusty, dirty industrial complexes. They hate their competitors, and their competitors hate them.

And yet, despite all these challenges, all these headaches, all these worries, the Homebase survey says that basically everyone is happy. Is this possible? Yes, it is.

Those same clients of mine who complain, whine, and criticize? The truth is, they wouldn’t trade it for anything. Even with all these headaches, most of them wouldn’t trade it for anything. They enjoy running their companies. They would never be employed by someone else again. Happiness is relative. And they are relatively happy.

Is it because they are “passionate” or “fulfilled” or “making a difference” or “changing the world”? That’s what those who dream of starting a business say… until they quickly realize that the world is cold and harsh. Most business owners I know are not “entrepreneurs.” They are not “launching a startup” or “chasing their dreams.” They are making sandwiches, fixing car engines, mowing lawns, fixing roofs, and pouring cement. They are driving trucks, cutting cardboard, delivering machinery parts, and installing pipes. Many do it out of necessity, not choice. But that’s okay. They are still happy.

Is it because of the money that they are so happy? Definitely not. Sure, we read about billionaires who started out in their parents’ garages. But this only happens to one in a million. Most small business owners earn an average of $100,000 per year, far less than many might make as executives in corporate America. Plus, they wouldn’t have to worry about their health insurance, their retirement, and where the next paycheck would come from.

And yet they are happy. Why? It’s because of control.

Like most people who run a business, I can deal with all the nonsense, all the headaches, and all the stresses. I can deal with the schedules, the responsibilities, and the risk. I can deal with all of this because the decisions are mine. All the problems I have are mine. Every decision I make affects my life. My 600+ clients are my boss, not a person. Running a small business means having more options, more choices, and more flexibility in life. You can choose to work 20 hours a day or not. You can choose to work at 2 a.m. because you went to your kid’s soccer game that afternoon.

My father once told me that employees are two weeks away from being out of a job. At least, as a business owner, you have a little more time than that. And you have the ability to change direction. The more you can control your destiny, the greater your happiness will be.