Over half (54 percent) of homepreneurs are earning less than in their previous role, but the majority (85 percent) are happier working for themselves, a new study has revealed. The survey, which was carried out by print company Solopress, across UK home business owners, found that money really doesn’t buy happiness, as Brits would rather earn less and work for themselves. Contributor Aron Priest Co-Founder at Solopress.
Exploring the rise of the homepreneur, the study shows half (50 percent) believe running a business from home has become an aspirational way to earn a living in today’s society. The research also looks at the job satisfaction and what homepreneurs enjoy most about working for themselves. Over half (52 percent) of people surveyed cited flexibility as something that they value the most about being a homepreneur. In fact, almost a third (31 percent) gave this as the reason they took the leap in the first place.
For one in four (26 percent) however, being their own boss is the cause of their happiness, while 15 percent feel it’s a more rewarding way to work and two in five (42 percent) simply enjoy having the time to spend on hobbies and interests.
The survey also revealed that happiness trumps money, with over half (54 percent) homepreneurs earning less money now than when working for someone else, as one in nine (11 percent) only earn £10k-15k per annum. Despite this, over one in eight (13 percent) achieve the national average (£20k-£30k), while a lucky one in ten (10 percent) are banking £30k-£40k a year.
Aron Priest Co-Founder at Solopress comments: “With homepreneurship becoming a more aspirational career path, we wanted to reveal whether biting the bullet and launching your own business was satisfying and rewarding. It’s interesting to see that despite the hard work and risk, the majority of home business owners are feeling happier and more fulfilled.
“Money doesn’t always motivate people the way happiness and appreciation in a career can, which is something companies should take note of if they want to retain employees,” he adds. As part of these results, Solopress has written a whitepaper on the rise of homepreneurs in an attempt to highlight the need for more business owners to integrate flexibility into its work culture.