Birmingham Small Business.com

Courtesy of Evan Carmichael and YoungEntrepreneur.com:

Entrepreneurship is quickly becoming the driving force of the new economy. Startup entrepreneurs are generating impressive economic growth, powering the job market, and creating innovative solutions for today’s emerging needs.

In 2002, one in ten Americans were creating or growing their own business. This was a remarkable 50 percent higher than levels in 1998. With a recent Angus Reid poll suggesting that 70 percent of today’s youth are likely or more than somewhat likely to engage in entrepreneurial activity, there is little doubt that the Age of the Entrepreneur will be sustained throughout multiple generations.

There are a number of reasons why ordinary people decide to become entrepreneurs. Some of the more common ones include:

Stop Working For “The Man”
Are you tired of taking orders from above? Fed up with dealing with incompetent superiors? Do you want to stop worrying about the prospect of being fired or laid off? Do you want to be able to fly your own plane and control your own destiny? A 2003 Ananova article suggests that 56 percent of workers find their managers to be incompetent. Imagine going to the office every day and having to work underneath someone whose decision making ability you don’t respect! Is this the person you want determining how far your career will go? According to a 1997 Towers Perrin Workplace study of 2,500 American workers, only 45 percent of them believed that the job promotions in their companies were conducted fairly. Becoming an entrepreneur ensures that you finally have control over your future, and chances are you’ll get along much better with the management!

Stressed At Work
Instead of spending money on costly recruitment, training, and benefits programs for new employees, it is cheaper for companies to make their existing staff work longer hours, leaving them with less time at home with their family and for their many other responsibilities. As a result, employee stress levels in North America and Europe are at all time highs and many employees are breaking out on their own. According to the Canadian Mental Health Association, 43 percent of Canadians are feeling overwhelmed by their job. Furthermore, in 1999, The Conference Board of Canada reported that the stress levels of the average Canadian worker are much higher than they were 10 years ago. In the United States, a study conducted by the New York-based nonprofit Families and Work Institute, found that 46 percent of respondents reported feeling overworked in one way or another. The same survey found that those who felt overworked were more likely to neglect themselves and were less likely to feel they were having successful personal and family relationships. It’s no wonder people are leaving their jobs to become entrepreneurs, start their own businesses, and determine their own work schedules and quality of life!

Frustrated At Work
Have you had enough of incompetent management not listening to your creative ideas? Do you want to work in an environment where you can be more entrepreneurial and make sure your ideas are paid attention to and acted upon? According to a Washington Post article, in a survey of over 800 mid-career executives, unhappiness and dissatisfaction levels are at 40-year highs. Furthermore, 40 percent of those interviewed reported that they hated what they did, double the level reported four decades ago. Imagine going into work every day and absolutely hating what you are doing! If this sounds like your work environment, it may be time to free yourself from the shackles that chain you to your job and start your own business.

Work Too Boring
Are you no longer satisfied doing data entry, manual labor or telemarketing? Is your job not stimulating your brain or making full use of your talents? Do you want to be challenged mentally and open your own business as a way to achieve this goal? According to an article in Forbes, helplessness and boredom was the number two reason why people are dissatisfied with their jobs, just behind having heavy workloads. One respondent said, “The work is unchallenging so I don’t have any inspiration to perform better.” People want to be challenged in their daily lives and if they cannot get it by working for someone else, many decide to do it for themselves!