Do you wonder sometimes whether owning your own company is really worth all the hassle? Well, if it's any consolation, the decision to become your own boss has likely made you the envy of neighbors, relatives and friends.
According to a new national survey about attitudes toward business ownership, 67 percent of Americans have dreamed of owning their own businesses, and 56 percent say they would leave their jobs to start one if circumstances permitted. More men than women were likely to dream about owning a business, but more men actually start businesses, the survey found.
The poll, commissioned by FedEx, also noted a trend toward "hobby-based" businesses, with 40 percent of the respondents saying that a personal passion was the best reason for going it alone. Another 17 percent wanted the opportunity to be their own boss, and 15 percent sought work/family flexibility.
Having dependents may be an impediment to starting a business, however. Those who dream of entrepreneurship were also the most likely to be married with children (47 percent), while 48 percent of actual business owners reported being childless.
CUSTOMERS ABOVE ALL. Nine out of 10 business owners were white, but 76 percent of African Americans said they want their own outfits – a much greater number than the 53 percent of whites who gave the same response. And while aspiring business owners are scattered evenly across the country, the greatest concentrations of actual business owners are found in the South (32 percent) and West (27 percent).
When asked about the major challenges facing business owners, marketing and publicity emerged as the biggest hurdles, with the need to meet sales objectives ranking second, followed by transport-and-delivery issues and return policies.
What makes a business more likely to succeed? According to the survey, customer service is key, followed by managing operational costs, and customers' confidence in reliable deliveries. The telephone survey of 1,000 Americans age 18 and over was conducted by Opinion Research. Slightly more than 10 percent of survey respondents reported that they already owned their own businesses.
Source: BusinessWeek Online