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

Business owners from across the UK have revealed that they would ideally like to receive an average salary of £40,685 per year from their business.

In fact, a breakdown of the survey results of 2,000 business owners from across the UK, 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 carried out 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 (pictured above), 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.”