Study: Small business formation creates happiness for owners

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For an entrepreneur, part of the draw of working to create a corporation is being his or her own boss. A new study shows that this independent feeling also gives small business owners great satisfaction.

According to the TD Small Business Happiness Index, 69 percent of small business owners surveyed said that they were “very happy,” and 61 percent felt that they were more happy than others. In addition, nearly 90 percent of them were happier running their own companies than they would have been working for someone else.

“Life as a small business owner can be quite fulfilling. Even in a tough economy, they’re willing to tackle the ongoing challenges of managing a business in exchange for the personal satisfaction of being their own boss,” said Fred Graziano, head of retail and small business banking for TD Bank.

Entrepreneurs also said that they enjoyed the fact that owning a small business allowed them to set their own schedule and make their own decisions.

As small business owners have a positive attitude about their companies, so do customers. A Gallup poll taken earlier this year found that 95 percent of consumers responded positively to the term “small business,” and a poll by the Pew Center said that small businesses were more trusted than the government or religious organizations.