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5 advantages of owning a business

Late nights are a given, staff headaches may be expected and financial juggles often come with the territory. But the advantages of owning your own business can make each day worth the hustle.

Anyone who has been their own boss knows it’s sometimes no fairytale. But there can be some serious perks to running your own show.  

Recent research from YouGov*, commissioned by Prospa, asked 260 Aussie small business owners and managers about their experiences running small businesses in Australia. Almost all (96%) SMB owners or managers say they enjoy being a small business owner in Australia! 

They also rated the top benefits of being a small business owner in Australia as: 

  • Flexibility (68%) 
  • Being their own boss (65%) 
  • Pursuing their passion (48%)  
  • Making a good living and supporting themselves financially (35%) 
  • Liking the range of roles and responsibilities (28%)  
  • Creating jobs or opportunities for others (19%) 

Here, five small business owners share why they’d rather work for themselves than anyone else.

1. Creative control

“My background is in graphic design, marketing and online sales, so instead of working for someone else, I created a job where I get to do all the things I love, the way I want to. And I love the hustle! It’s exciting knowing that the harder you work, the more benefits you will reap.” – Jayne Clarke, co-founder of Magic Door Pillows

“Instead of working for someone else, I created a job where I get to do all the things I love, the way I want to.” Jayne Clarke

2. Flexibility

“While there are often deadlines I have to meet, I choose how and when I do it. If I want to spend time with my daughter in the morning or afternoon, I can do that. If I want to have a long lunch with a friend, I can do that. There’s no one forcing me to work 9 to 5, join pointless meetings or miss important parts of my life. I can work during evenings or on weekends if I need to. Knowing I can shake up my schedule like that means the world to me.” – Oliver Gaywood, co-founder of Civic Web Media

3. Pursuing a passion

 

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“Following my passion for creating and teaching art and being creative with ideas of how to grow my business is truly fulfilling. It gives me the opportunity to collaborate with creative folks out there and learn about other cultures and practices which has heightened my cultural quotient as a businesswoman.” – Deepa Mani, founder of Chandralaya dance school in Melbourne, switched careers after 17 years in IT. 

4. Nurturing a team

“I can create the kind of work environment I wish I had as a young employee. When I first started working as a dentist in my early twenties, there was no mentoring, no supportive team culture, no one checking in. Now I have more than 20 employees and am proud of giving them a place to work that’s safe, supportive and fun. Mental health and wellbeing is a priority, and I love rewarding the team for hard work.” – Dr Georgia Sheahan, founder of North Brisbane Dental Clinic

5. Freedom to act

“Being my own boss means I have the freedom to immediately start implementing my ideas. There are no senior directors, committees and long approval processes to follow. If I have an idea before breakfast, I can start working on it after finishing my morning coffee. Working in a bureaucracy-free environment is a fantastic place to be – your thoughts can quickly become actions.” – Mark Coster, founder of Fairy Digital

*YouGov Research Report commissioned by Prospa was conducted online between 19-27 April 2021 on a sample of 260 Australian Small Business Owners/Managers of 1 to 50 employees. 

Speak with one of our small business lending specialists about how a Prospa Small Business Loan could help optimise your flexibility so you can spend more time doing and less time hustling.

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Need flexible access to funds to take your small business to the next level? We've got you. See how a Prospa Small Business Loan could help ease the pressure of being your own boss.

The information in this post is provided for general information only and does not take into account your personal situation. Nothing contained in this post constitutes advice or an endorsement or recommendation of any kind by Prospa. Any links to third party websites are strictly for informational purposes only. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from financial, legal and taxation advisors. Although every effort has been made to verify the accuracy of the information as at the date of publication, Prospa, its officers, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy, or omission from the information for any reason, including due to the passage of time, or any loss or damage suffered by any person directly or indirectly through relying on this information.

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