Owning a business proves good for your happiness and your wallet

Owning a business is hard work. Whether it's sorting out your tax or dealing with your business development, being a self-employed enterprise owner is equal parts freedom to run your business and enslavement to how your business runs you.

But even after all the toil, apparently SME owners are finding themselves looking on the positive side, in both their bank balance and in their happiness.

The pursuit of happiness

According to Pew Research Center, self-employed people (including business owners) are generally far more satisfied with their jobs than those who are waged or salaried full-time workers. In fact, 32 per cent of the self-employed said they worked because they actually wanted to, compared to only 19 per cent of those in full-time positions.

Evidently, even with all the extra responsibilities of running your own business, the extra freedom and sense of satisfaction are enough to more than make up for it.

Make yourself comfortable

Meanwhile, the annual Members Equity Bank (ME) Household Financial Comfort Report has found a huge increase in the financial comfort of small-business owners.

Considering a wide range of factors, from savings to investments to preparedness for financial disaster, ME discovered that SMEs had the largest financial comfort increase of any working cohort – a hefty boost of 18 per cent over the six months leading to December 2015.

fpaNot all roses

However, while Pew Research found people were happier, they were typically more stressed about their financial situation. Our recommendation? Remove some of the workload and stress – speak to a business development consultant at Wilson Porter.

Whether you're after a good tax agent or even superannuation services, one of our qualified experts will help ensure that your business is successful and your financial comfort is maintained. Contact us today!