The price of happiness? £40k per year say entrepreneurs

A survey of 2,000 entrepreneurs up and down the country reveals that they’d ideally like to receive an average salary of £40,685 per year from their business.

In fact, a breakdown of the results shows that one in five (19 per cent) would be happy to earn just £15,000, while a quarter believed they were worth a salary up to £39,000 and a further quarter would be happiest paying themselves up to £50,000. 

Instead, higher on entrepreneurs’ list of priorities is to be in charge of their own destiny (56 per cent) and having more control over their work/life balance (42 per cent).

The research was undertook by Barclays, as part of its Take One Small Step competition, where the bank is offering a total of £500,000 to help new start-up ideas get off the ground.

Commenting on the results, entrepreneur Julie Meyer, the founder and chief executive of Ariadne Capital, says that small business owners have always been motivated by a variety of factors.

“For many, financial considerations are secondary to the desire and drive to be your own boss. When starting my own business, I loved the challenge of making my own decisions and being in control, and I still do. Owning your own business is never easy, but the rewards of being your own boss can be great.”

What about you – what motivates you to get up every morning? Are you in it for the cash, or for something else? Leave your comments below.

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