67% Say Personal Passion is Top Reason to Start a Business
Personal passion is by far the number one reason why small business owners started their business according to survey; “a way to pay the bills” is a distant second.
Passion is a Necessity as Small Business Owners are Working Longer Hours
Working longer days and on weekends is becoming more common for small business owners. According to a Sage survey, 72% of small business owners report working longer days and more weekends than 5 years ago, and 40% are taking less vacation. Without personal passion, would so many small business owners be willing to increase their work hours and decrease their vacation time?
Wearing Multiple Hats is Commonplace for Small Business Owners
Working longer hours and more on weekends makes sense when you consider how many different roles a small business owner must fill to run their business. According to the results of an eVoice survey, on any given day nearly half (46%) of all small business owners are filling 3 to 4 different employee roles. In fact, 45% report filling at least 5 roles (30% 5 to 6, 6% 7 to 8, 4% 9 to 10, and 5% filling a whopping 11 or more roles).
Sources: Intuit, Sage, eVoice