Realizing the American dream through entrepreneurship isn’t easy, as a recent study shows.
Online lender OnDeck surveyed more than 800 small business owners across the country and those responses provide a snapshot of what entrepreneurs face right now.
“A majority of those surveyed felt the average person didn’t understand how hard it was to drive a business forward,” said Andrea Gellert, chief marketing officer at OnDeck. "We should all recognize the dedication business owners have to growing our local Main Streets, and in turn, our economy."
OnDeck found that more than half surveyed work more than 50 hours per week and that 9 in 10 work weekends. By comparison, the Bureau of Labor Statistics (BLS) finds that just one-tenth of the American population worked more than 49 hours a week in 2014 with the average non-state employee clocking in around 35 hours a week.
Despite the extra time and effort small businesses need, 65% of those surveyed by OnDeck say entrepreneurship has put them in a better financial position than if they had an employer. A whopping 90% say they'd never look back.
Although entrepreneurs work long hours, more than half surveyed say they still have work/life balance, as technology plays a major role in giving business owners more flexibility, explains Gellert.
For more insights from the survey, check out the infographic below from OnDeck.