A recent study conducted by Ernst & Young revealed that the U.S. provides the most optimal environment for entrepreneurs when compared to other large economies in the world. By contrast, the Ernst & Young study also found that these same business owners don’t favor the government programs available to help their companies.
Additional research by insurer Hiscox found that small business owners in the U.S. are more optimistic than their cohorts in Europe. The survey polled 3,000 business owners with fewer than 50 employees and included 500 respondents from 6 countries including: the U.S., Germany, France, the U.K., Spain and the Netherlands.
The major findings are detailed below:
- 48 percent of U.S. respondents reported increased profits in 2012
- Half of U.S. respondents were optimistic about 2014
- 48 percent of U.S. respondents said they were more satisfied owning a business than working for a large corporation
- 56 percent of Spanish business owners reported higher stress in 2013
- 22 percent of French business owners were optimistic about 2014
- U.S. respondents reported working 39.5 hours a week, the second shortest week reported
- U.S. respondents reported 95 minutes were spent on regulatory matters, the lowest amongst all survey respondents
Another very interesting finding was that U.S. respondents only took 10 days of vacation each year whereas their European counterparts reported taking an average of 18.5 vacation days per year.
Clark, Patricia. “More Research Shows U.S. Small Businesses Have It Better Than They Think”. Businessweek.com. 9/3/2013.