SME owners prefer ‘their lot’ to being employed by large firms

A new study has revealed that entrepreneurs are happier running small and medium-sized enterprises (SMEs) than being employed by a larger company, freshbusinessthinking.com reports.

International insurer Hiscox surveyed 3,000 small business owners and parters across the UK, USA, Spain, France, Germany and The Netherlands. The research chiefly found that despite tough trading conditions, 48 per cent were ‘optimistic about the year ahead’ – compared with 27 per cent who were not.

Those that ran small companies in the UK were, according to the survey, the most ‘happy with their lot’; demonstrating greater happiness at running their own company than being someone else’s employee. In fact, 91 per cent of all respondents cited benefits in ‘running an SME compared with working in a large company’.

In addition, British SME owners reported the shortest working week of the six countries examined and they were less hindered by ‘red tape’ – all encouraging news for anyone that might like to start a franchise.

Forty-seven per cent of UK SME bosses said that they expected the next year to bring improved trading standards, a modest increase of seven per cent on last year’s response, telegraph.co.uk reports.

Commenting on the study, Bronek Masojada, Hiscox CEO, said: “Despite a year of deepening economic gloom, most [small businesses are] displaying more optimism.

“The resilience and self-belief within SMEs are evidence by renewed commitment to work more efficiently and seek new opportunities. In five of our six countries, a substantial majority of respondents reported gains in new customers.”