COLUMBUS, OH-- - For many, the start of a new year brings resolutions and refreshed priorities, but this may not be the case for small business owners. According to a new Manta survey of 1,158 entrepreneurs, small business owners don't feel a need to part ways with old habits in 2015. Forty-three percent said that they won't give up any vices, and nearly all (98 percent) would not give up sex in exchange for increased business success in 2015. Why not? Maintaining a good work-life balance seems to be the reason, as 76 percent reported they had a successful 2014 (the most successful year since 2011 based on previous Manta surveys) and more than 93 percent said they have happy personal lives.
For small business owners who would abandon a vice for improved business in 2015, 30 percent would give up junk food, while 16 percent would give up spending time on Facebook.
Want Happiness? Resolve to Become a Small Business Owner in 2015
Entrepreneurs rank high on the charts as some of the happiest people in the country -- 94 percent report they are happy being a small business owner.
"Entrepreneurs stand out from the general population because of the freedom and flexibility their career brings," said Manta CEO John Swanciger. "This year, we can add a stronger economic environment to their reasons to be happy. And with 87 percent of the small business community feeling optimistic about business prospects, we expect 2015 to be a successful year."
The Small Business Balancing Act of 2015 - Personal and Business Resolutions
Small business owners want the best of both worlds this year. From a business standpoint, it's all about capital and new business -- small business owners report acquiring new customers (50 percent) and increasing their revenue (32 percent) as the top business resolutions for 2015. That said, from a personal standpoint, spending more time with friends and family (28 percent) ranked as the No. 1 personal resolution.
But cash and competitors is what make them lose sleep as entrepreneurs said money and financing (35 percent) and competition from big business (11 percent) are the top issues that keep them up at night.
WANTED: New Hires, Strong Work Ethic
Hiring could nearly double for small businesses in 2015 as 60 percent of respondents confirmed that they will make either part-time or full-time hires (Manta data shows only 35 percent of entrepreneurs increased their headcount in 2014). What's their motivation for hiring in 2015? Nearly one-quarter (24 percent) reported they're hiring for expansion reasons, while 21 percent say sales and productivity.
Hiring is no small feat, and with hiring comes recruiting, training and mentoring. Small business owners in all parts of the country and spanning all ages noted recruiting as the most difficult aspect of hiring (38 percent), followed by training (22 percent) and employment law (20 percent).
Additionally, good employees with the necessary qualities and experience can be hard to find for any business owner. According to the survey, it's most difficult to find a strong work ethic (48 percent), followed by finding a candidate with the appropriate work experience (25 percent), loyalty (10 percent) and can-do attitude (9 percent).
"Recruiting is definitely the most difficult part of the hiring process. To find a promising candidate with a strong work ethic is no easy task," said Mark Whalen of Las Vegas Kitchen Cabinets Company. "But at the end of the day, that's what makes me most happy about being a small business owner. I'm at the top of the pyramid and I know each person I hire will meet my standards. If my company succeeds, I know it comes from me. If it fails, I am also responsible. I'm in control of the fate of my business."
About the Manta 2015 Semi-Annual Small Business Wellness Index
Between December 4, 2014 - December 9, 2014, Manta polled 1,158 small business owners with Manta business profiles via an online survey. The margin of error is +/- 2.88 percentage points.
Manta empowers small business owners to succeed on their own terms by helping them stand out, connect with customers and grow their companies. Our solutions include a small business directory with millions of unique monthly visitors, proven tools to drive lead generation and a suite of products to manage critical business needs. We strive to inform and inspire through learning opportunities, proprietary research, and a robust online community for dialogue and collaboration. Thousands of business owners join Manta each month. Visit manta.com to learn why.
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