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  • Report: Entrepreneurs happier than the average individual

    Steady employment opportunities are still hard to come by in the United States, but more than 2 million people still decide to quit their jobs every month, according to the Bureau of Labor Statistics.

    careersIt's a tough cookie to bite into, but many people decide to leave work because they are unhappy with their jobs.

    If you're one of those people who are unsatisfied with your work situation, you might want to look into starting your own business. According to the Global Entrepreneurship Monitor 2013 Global Report, entrepreneurs are some of the happiest people in the world when taking into account individual well-being and personal satisfaction on the job.

    In its 15th annual report, the Global Entrepreneur Monitor surveyed more than 197,000 individuals across the globe. Approximately 3,800 entrepreneur experts also took part in the survey, which touched on the economies of 70 different countries.

    "Our idea is to contribute to a better understanding about what influences a population's perceptions about well-being and how that consequently shapes entrepreneurship indicators," said José Ernesto Amorós, the report's co-author. "One interesting finding is that in all regions, entrepreneurs exhibit relatively higher rates of subjective well-being in comparison to individuals who are not involved in the process of starting a business or owning-managing a business."

    Entrepreneurship in the US
    According to Donna Kelley, an entrepreneurship professor at Babson College, not only are entrepreneurs happier than the average individual, but people starting their own business in the U.S. is a trend that's also on the rise. Entrepreneurship maintained a growing rate for three consecutive years following huge declines in new-business activity due to the burst of the housing bubble and Great Recession.

    "We are also seeing positive signs in the environment for entrepreneurship," Kelley said. "More people (47 percent) perceive good opportunities for starting businesses in the United States (up from 43 percent in 2012). This is, by far, the highest we've seen on this measure in the 15 years we've conducted the GEM survey in the U.S."

    One major positive for entrepreneurs across the country is that fewer are closing up shop due to a lack of funds. According to Kelley, fewer entrepreneurs stopped business operations because of a lack of financing, citing other reasons for exiting their respective fields. Kelley said the number of entrepreneurs who closed shop due to finance troubles was 18 percent in 2012. That total dropped to just 8 percent in 2013.

    "In all, entrepreneurship activity is stable and popular in the United States with favorable conditions in the environment for this activity," Kelley said.

    Feeling glad, entrepreneurship in the bag
    Entrepreneurs worldwide - in both the established and early-stage phases of entrepreneurship - reported higher marks on subjective well-being compared to those not involved in starting a business or other entrepreneurship activities.

    The Global Entrepreneur Monitor survey asked respondents to measure their well-being by agreement or disagreement statements such as "the conditions of my life are excellent" and "if I could live my life again, I would not change anything."

    With more entrepreneurs stating they are happy than the average population, Bloomberg believes this data suggests that entrepreneurship could be a good career choice for most people. Breaking down the survey even more, results indicate that women entrepreneurs are happier than their male counterparts.

    "Another relevant result is that female entrepreneurs in innovation-driven economies exhibit on average a higher degree of subjective well-being than males," Amorós added. "This initial assessment opens up possibilities for exploring the role of women and men entrepreneurs beyond the traditional notion of development generally associated with economic indicators."