📺 Stream EntrepreneurTV for Free 📺

Recent Study Asks: Who's Happier -- The World's Entrepreneurs or Their Staffers? New research looks at which country's business owners are most satisfied.

By Nina Zipkin

entrepreneur daily
Shutterstock

What do you need to feel the happiest in your daily life?

The World Happiness Report, a new global study conducted with support of the UN, found that six factors contribute to how happy a country's citizens are. They are GDP per capita, social support, healthy life expectancy, freedom to make life choices, generosity and freedom from corruption.

Out of the 155 countries ranked, the top five happiest countries in the world are Norway, Denmark, Iceland, Switzerland and Finland. The bottom five are Rwanda, Syria, Tanzania, Burundi and Central African Republic. In the past 10 years, the United States has dropped in the rankings. In 2007, of the 35 member countries the make up the OECD, it was number three. In 2016, it was number 19 on the list.

Related: 5 Actions You Can Take to Increase Your Happiness Quotient

The report also put a spotlight on who comes out on top when it comes to happiness in the workplace.

"When considering the world's population as a whole, people with a job evaluate the quality of their lives much more favorably than those who are unemployed," the researchers wrote. "The importance of having a job extends far beyond the salary attached to it, with non-pecuniary aspects of employment such as social status, social relations, daily structure, and goals all exerting a strong influence on people's happiness."

So where do the happiest entrepreneurs live?

Related: 10 Facts About Happiness From Around the World

On the whole, the study found that being self-employed and running your own business leads to having a higher life evaluation and positive affect -- compared to being a full-time employee for someone else -- in Europe, North America, Australia, New Zealand, the Commonwealth of Independent States and East Asia.

The researchers noted that, entrepreneurs in Latin America, the Caribbean and Sub-Saharan Africa had a tendency to report a lower life evaluation. However, regardless of where the entrepreneurs lived, emotions such as stress and worry were associated with running their own business.

Globally, the researchers found that the top three categories of jobs that yielded the highest life evaluation and positive affect are manager/executive/official roles, followed by professional workers and then clerical/office workers. Business owners came in at number four for feelings of positivity.

Nina Zipkin

Entrepreneur Staff

Staff Writer. Covers leadership, media, technology and culture.

Nina Zipkin is a staff writer at Entrepreneur.com. She frequently covers leadership, media, tech, startups, culture and workplace trends.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

James Clear Explains Why the 'Two Minute Rule' Is the Key to Long-Term Habit Building

The hardest step is usually the first one, he says. So make it short.

Science & Technology

More Companies Are Rushing to Hire A Chief AI Officer — But Do You Need One? Here's What You Need to Know.

Companies are appointing executives to oversee AI. A better approach: infuse the technology throughout the organization.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Starting a Business

This Teacher and Mom Was Investigated by the Department of Education (Twice) for Being Too Good. She Used the Experience to Create a Million Dollar Business.

The CEO of Top Score Writing discusses how she founded her curriculum company and the lessons learned along the way.

Management

7 Ways You Can Use AI to 10x Your Leadership Skills

While technology can boost individual efficiency and effectiveness, it's essential to balance their use with human intuition and creativity to avoid losing personal connection and to optimize workplace satisfaction.