These days, more and more people are starting their own businesses and working for themselves. Although owning a startup can be a challenging venture that has its ups and downs, research shows that entrepreneurs are more likely to be happier and healthier than people who work for someone else. Here’s why owning your own business may be good for both your mental and physical well-being.

Entrepreneurs Are Healthier

A recent study uncovered an interesting trend after examining data from the U.S. Census and the Centers for Disease Control. The study determined that the health of small business owners is remarkably better than that of other people. It also showed that communities with a high number of small businesses also benefited from better health as well. For instance, in Summit County, Colorado, which is home to a number of small businesses, residents experience lower rates of diabetes, obesity, and mortality in general, with rates less than half the national average.

Additionally, it was discovered that owning your own business results in fewer incidences of mental and physical illness. Business owners tend to go to the hospital less often and generally report that they are more satisfied with their lives.

Business Owners Are Happier People

Knowing that better health is one of the benefits of owning a business, it’s fair to wonder whether business owners are also happier. Research shows that in spite of the stress associated with running a startup — which always has an uncertain future — business owners are overall happier and have a better sense of well-being than individuals who work as employees for someone else.

According to one study, many people who earned more money were generally happier than those who earned less. However, earnings were not the biggest predictor of their happiness. Being one’s own boss made people happier, according to 11,000 college graduates who were surveyed, regardless of how much money they earned.

Think Like an Entrepreneur to Be Happier

At the end of the day, if you want to be an overall happier person, you should think like an entrepreneur. People who own their own businesses work extra hard, but at the same time, they have control over the time they put in, which makes them happier. There is a feeling of empowerment that comes from being in control, which may explain why entrepreneurs are happier.

Thinking about taking the plunge and starting your own business? Umbrella Financial Services Tax Solutions Group makes it easy! Our ownership opportunities eliminate many of the usual risks associated with new business development, and we provide all of the training and education you need to succeed. Contact us today to learn more!

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