Ottawa small-business owners third happiest in Canada: TD survey
Posted by sweens on July 26, 2010
Published on July 26th, 2010
Ottawa Business Journal
Around 84 per cent of small-business owners in Ottawa are happier owning and running their own business than being an employee, according to numbers released by the TD Small Business Happiness Index on Monday.
Overall happiness ranked at 27 per cent, placing owners in the city at the third-happiest in Canada — just behind Calgary (30 per cent) and Montreal (29 per cent).
“What the TD Small Business Happiness Index demonstrates is that small business owners enjoy a sense of control and freedom that they don’t generally realize when working for someone else,” stated Alec Morley, senior vice-president of small business banking at TD Canada Trust.
“Despite the recent economic downturn and the ongoing challenges of managing and growing a business, the personal satisfaction small business owners report illustrates one of the key advantages of owning your own company.”
According to TD, the following factors contributed to small-business hapiness:
- Pride and accomplishment from owning your own business (93 per cent);
- Volunteering or donating money to local charities or sports teams (93 per cent);
- Feeling a “deep personal connection” to employees and customers (85 per cent).
Other benefits included being your own boss and setting your own schedule, although long hours were a staple of business — at an average of 50.4 hours a week, among the top three in North American cities surveyed. Forty-three per cent of owners worked more than 60 hours a week.
“Small business owners tell us that owning a business has many advantages, despite the day-to-day challenges that come with running a company like red tape, property taxes and attracting and retaining talent,” stated Morley.
The survey was conducted by Environics Research, and polled 1,213 small-business owners across the continent between May 13 and June 15. That included 101 small business owners in Ottawa.