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92% of small business owners happy with their freedom

Staff Writer |
One of the best parts of being a small business owner and an entrepreneur is the ability to be your own boss. However, that responsibility is also one of the hardest parts.

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This is according to the September 2016 SurePayroll Small Business Scorecard.

42% said having to handle too many responsibilities on their own is the worst thing about owning a business.

What are the other most challenging aspects of being a small business owner? 20% said navigating tax and employment laws. 18% said swings in income due to the changing profitability of the business. 14% said managing employees.

On the other side of the coin, 44% said being their own boss is the best thing about owning a business. A third said the opportunity to grow a company was the best part of the endeavor.

Ranking fairly low on the list of pluses was working with employees (8%) and the financial rewards (8%).

"There are definitely tradeoffs in going into business for yourself – entrepreneurs take everything on their shoulders and that can wear a person down. At the same time, the vast majority tell us they're satisfied with what they're doing," said SurePayroll General Manager Andy Roe.

In fact, 92% said they are satisfied with the combination of added freedom and added responsibility they have as a business owner.

"There will always be challenges, but when you're doing what you love and what you're really good at, it gives you a totally different perspective on the work," said Roe.