Small business owners feel positive about their future, survey shows

Small business owners are feeling positive about the future of their company, according to research from the organisers of upcoming event Small Business Saturday.

The research found that owning a small business can make business owners feel happier and more confident.

Important

Over 65 per cent of business owners surveyed said that working for themselves has made them happier, whilst 59 per cent said that they feel more determined, and 49 per cent said that owning their own business has boosted their confidence.

Business owners were also positive about their company’s performance, with over 70 per cent saying that their business has grown over the past 12 months and 79 per cent predicting growth over the next year.

The report also looked at what business owners believe is important for their business to achieve, with over 75 per cent of business owners citing making a contribution to their local community and having a positive impact socially as important or very important.

Ambition

The main reasons for starting up a business were identified in the research, with 39 per cent saying that they wanted to turn their hobby or passion into a business and 20 per cent saying that owning their own business had always been their ambition.

Fifteen per cent of respondents said that setting up their own business was their next best option after being made redundant or being unemployed, and 15 per cent said that it was the next logical step in their career.

The research was carried out in time for Small Business Saturday, an annual event that celebrates and promotes small businesses in the UK. This year’s event is set to take place on Saturday 3rd December.