Most Small Business Owners Say They’d “Do it All Over Again”

Posted on May 21, 2014 by Kathy Hoekstra

No regrets among entrepreneurs despite economic challenges

We should be very encouraged today.

Just a couple of short weeks ago, a study from the Brookings Institution showed a frightening economic trend in the United States, that starting in 2009, after 30 years of relative business success, the number of businesses that fail now outnumber those that succeed:

 

You would think such a drastic turnaround would cause second thoughts for America’s existing small business owners as they look back upon their own start-up experiences.

Fortunately this is not the case.  

A new Gallup poll shows that mountains of red tape, an onerous and complex tax system and expensive government mandates topped off with a Great Recession, still cannot kill the American “can-do” spirit among the nation’s small business owners.

The survey of 600 such owners found that more than eight in 10 say they would “do it all over again”. What’s more encouraging is that, according to Gallup, this attitude has not changed much over the past 11 years.

The top reward submitted by these owners supports what Job Creators Network Foundation believes is the key to a healthy economy and job creation – independence:

These respondents acknowledge the challenges inherent in starting their own businesses, mainly generating revenue, building a customer base and maintaining cash flow, yet 84 percent of them would do it again:

That sense of freedom among small business owners should inspire our policymakers to work toward solutions that promote economic freedom rather than greater constraints. The more freedom we have to follow the entrepreneurial spirit and the desire to be one’s own boss, the more freedom we have as a nation.