Turns out that buying a new business opportunity, distributorship, licensee opportunity or franchise just might be one of the best things you'll ever do, and not just where your financial future is concerned. In fact, it could be really good for your well-being.
A new study by Bank of America finds that more than half of small business entrepreneurs report their personal health has improved as a result of their running a business, and it looks like the younger generation is feeling these benefits the most. In fact, more than 70 percent of millennial entrepreneurs—those born in the 80s and 90s—who own businesses say they've witnessed improvements in their own personal health status since stating a company of their own.
So what are the factors that small business owners claim make all the difference? It’s simple really and boils down to three main things: diet, exercise and sleep. Close to 30 percent say they eat healthier as a result of owning their own business. Thirty-five percent claim they are exercising more frequently, and roughly half report that they get more sleep, averaging seven to eight hours a night.
The study’s findings also show that small business entrepreneurs are encouraging their employees to adopt healthier habits as well. While nearly half of the 1,300 small business owners surveyed for the study provide flexible work or work-from-home options for their employees, more than 30 percent offer a variety of health and wellness programs and services, including healthy snacks and massages. Other strategies to improve employee morale, satisfaction and well-being cited include discounted goods and services, team-building activities (such as sporting events or excursions) and opportunities to give back to the community.
While the majority of small business owners surveyed said they are optimistic about the future on a number of levels, they will concede that their lives are far from stress-free. Among the worries that keep them up most at night? Striving to achieve a successful work-life balance, living in tough economic times, preparing for a potential natural disaster, managing cash flow and keeping their customers happy all top the list.
HOT TOPIC ALERT! Do you think owning your own small business has been good for your own personal well-being? Why or why not? What steps can small business owners take to ensure their own health and that of their employees remains good and strong? Tell us what you think…