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Starting a business may improve your life, study says

February 19th, 2013

PlanetSohoStarting their own business made life better for many entrepreneurs, says PlanetSoho, a provider of easy-to-use online management tools and services for small office / home office businesses (SOHOs), in its new State of America’s SOHOs study.

Results from surveying 1,300 SOHO owners show life improved for these entrepreneurs after they took the leap to turn their passion into a business.

The State of America’s SOHOs study reveals that nearly 2/3 of PlanetSoho members consider their business a success in less than two years. Additional findings include:

Lifestyle improvements:

  • 46% say the main reason they have a SOHO is to do what they love
  • 46% report having more time to spend with friends and family since starting a SOHO
  • 37% are sleeping better
  • 14% report having more sex

Why people love being a SOHO:

  • 61% love creating their own schedule
  • 56% enjoy being their own boss
  • 41% like not commuting to work

What kept them from “Taking the Leap” to become a SOHO sooner:

  • 36% weren’t sure where to start
  • 31% didn’t have the money needed to get started

Top four SOHO industries:

1. Computer and Internet

2. Health, Wellness and Fitness

3. Marketing and Advertising

4. Consulting

SOHOs are not just improving their own lifestyle; they are improving the U.S. economy. These smallest-of-the-small businesses are pumping $1.8 trillion into the U.S. economy every year – $5 billion every day. The trend of turning passion, talent and skills into bankable income is on the rise.

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