Today, July 4, many entrepreneurs will head to fireworks celebrations and barbecue with their families to celebrate Independence Day. Others will sneak in bits of work in between the festivities, but nearly three-quarters of them (72 percent) agree on one thing: having their own company affords them more freedom and independence than working for someone else, making every day Independence Day for them.
According to the latest survey of entrepreneurs and small business owners from Manta, over half, or 52 percent, of small business owners identify independence and being able to control their own destinies as the biggest benefit of entrepreneurship. That outranks being their own bosses (23 percent) and far outranks increased confidence (7 percent) and money (4 percent).
But it’s not surprising that so many entrepreneurs and small business owners feel this way, because 59 percent responded that being able to follow their own passions and being interested in their work was what brought them their personal freedom, while 19 percent attributed their personal freedom to not having a traditional boss and 17 percent attributed it to not having a set schedule.
Freedom requires work
Freedom isn’t free no matter how you look at it, though. Over one quarter of small business owners and entrepreneurs, at 29 percent, identified the economy as the biggest barrier to achieving independence. That narrowly beat out finding new customers, at 28 percent, and worrying about money and financial stability, at 20 percent.
Technology fosters freedom
The key to independence, according to entrepreneurs, is technology, whether it’s to run their businesses or stay in touch on vacation. Having an Internet connection topped the list of essential technology, at 39 percent, while mobile phones came in second with small business owners and entrepreneurs at 32 percent. Email and applications trailed at 18 percent and 3 percent, respectively. On vacation, 40 percent of entrepreneurs and small business owners hailed access to business files and applications as a great stress reliever because they can check operations while lounging by the lake.