Majority of North Americans are happy being an SMB owner

A survey was conducted by Toronto Dominion, on about 1,213 companies having 5 to 50 employees, in 12 cities of North America, to know the attitudes and behaviours of the owners of small businesses.

According to the survey, 69% of the small business owners in Canada were very happy with their businesses, while 31% of owners were happy in Boston and 36% were happy in Los Angeles.

On asking about the reasons for their happiness 97% of them feel that their businesses give them a sense of pride and accomplishment.

91% of them say that it helps in developing deep connections with their employees and 84% say the same with their customers.

86% of them say that it gives them an opportunity to give donations to charities, sports and other events.

They also quoted some benefits of small businesses as freedom to make own decisions, setting their own schedule, self rule.

Apart from the benefits, the challenges faced by the SMBs are property taxes, hiring and retention of employees and red tape.

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