Around five million Australians are attracted to the idea of starting their own business, with the belief it will offer flexible working arrangements or simply fulfil their wish to be their own boss, according to research commissioned by St.George Bank.
The St George survey of over 1,000 sole traders and business owners operating from home with less than four employees, as well as 760 respondents aged 18-59; found that as many as 43 percent of workers would like to work for themselves, while 67 percent of sole traders are much happier being their own boss.
In addition, 79 percent of sole trader business owners claim that they have a healthier work-life balance as a result of working from home. Such benefits include: not having to commute (68 percent), the ability to switch easily between work and leisure (65 percent) and the absence of office politics (65 percent).
Greg Bartlett, St.George Bank’s chief executive, said the research shows the majority of sole traders and home-based business owners believe the rewards gained by working for yourself clearly outweigh the challenges.
“Around half of those who run their own business find being their own boss more enjoyable then they thought it would be,” he said.
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