Small-business owners are more satisfied with owning their own business than they were four years ago, but consider themselves less successful, according to a
Wells Fargo/Gallup survey conducted March 31-April 4.
A total of 56 percent of small-business owners are either extremely or very satisfied with owning their own business, up from 45 percent in 2010. But only 37 percent see themselves as extremely or very successful, the lowest reading in 10 years, and down from 40 percent in 2010.
"One explanation for this paradox may lie in the fact that small-business owners tend to like the basic lifestyle and self-sufficiency that come with being an entrepreneur, and therefore may tend to be satisfied even when they don't perceive themselves as particularly successful," write Gallup's Coleen McMurray and Frank Newport.
A total of 42 percent of small-business owners say the most rewarding element of their position is independence.
Interestingly enough, only 42 percent of small-business owners say they would advise young people to start their own business, compared with 47 percent who recommend working for someone else.
Meanwhile, William Dunkelberg, chief economist for NFIB (the National Federation of Independent Business) isn't optimistic about small-businesses now.
"The business environment is not favorable," he said, according to CNBC. "Six months from now, more business owners think things will be worse off than those who think things will be better."
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