June 10, 2013

Small Business Owners: Healthier and More Optimistic, Study Shows


by Resources for Entrepreneurs staff

This post was originally published June 10, 2013 on Resources for Entrepreneurs

Owning and operating a small business is a taxing experience. Long workweeks and little time for relaxation or leisure activities are normal for most entrepreneurs, even if the owner isn’t involved in day-to-day operations.

But according to a new report by Bank of America, small business owners are increasingly focusing on their personal health and wellness. The Bank of America Small Business Owner Report found that 53 percent of small business owners believe their personal health has improved as a result of their ownership activities. Even more business owners (85%) reported that they have taken measures to improve the happiness and wellbeing of their employees.

Additional findings from the report included:

  • Nearly half of owners surveyed (49%) get between seven and eight hours of sleep each night. Thirty-five percent are exercising more often and 29 percent are eating healthier.
  • Forty-five percent of small businesses offer flexible work or work-from-home options to their employees and 31 percent provide healthful amenities in the workplace. But only a third of small business owners can afford to provide formal health and wellness benefits to their workers.
  • Although many small businesses have experienced a significant business disruption (31%) or a temporary business closure (41%), entrepreneurs are optimistic about the future. Approximately a third of small business owners intend to hire additional workers and slightly more than half (51%) expect increased revenues over the next twelve months.

Unlike the leaders of large corporations, most small business owners have the luxury of knowing their employees on a personal level. As a result, small business owners tend to be more invested in helping employees balance work and family, and in helping them lead generally healthy lives. By emphasizing their own health and wellness, entrepreneurs can serve as role models for their workers and offer additional encouragement to employees who may be struggling to achieve the right balance between their personal and work lives.

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