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So much for work-life balance.
Long hours and high-stress jobs lay waste to our mental health, age us on a cellular level and increase our risk of an early death.
But a new study shows that one profession, one that certainly does not shy away from long hours and high stress, could actually do the opposite — help folks live a longer life.
Research from the Stevens Institute of Technology suggests that 31 million American entrepreneurs have a 10% lower risk of early death compared to those who spend their careers working for others.
“Most people think of entrepreneurship as extremely stressful, and it certainly can be,” said study author Cristiano Bellavitis.
“But entrepreneurship also gives people a high degree of autonomy and the opportunity to pursue something they genuinely love or care about. Our findings suggest those benefits may have lasting effects.”
What researchers found
Bellavitis’ team looked at more than 20 years of data from over 27,000 Americans aged 50 and older.
They found that those who started their own business had a 10% lower risk of premature death, even after accounting for factors like age, income, education and wealth.
People who launch their own business invest time and money without any guarantees that they’ll profit in the future. That’s an immense amount of stress, usually paired with long hours that they don’t know will pay off.
Yet Bellavitis says that the personal autonomy of entrepreneurship — the power to forge your own path — plus the belief in the business can outweigh the significant mental strain of stress and isolation.
Compared to those who work for others, entrepreneurs reported lower levels of depression and loneliness. Lower rates of these mental health conditions are associated with better health outcomes and greater longevity.
Researchers also found that the longevity advantage was strongest among opportunity-driven entrepreneurs — those who launched businesses to serve a gap in the market or pursue an innovation, rather than becoming entrepreneurs to survive financially.
Those who started a business for reasons like losing a job did not experience the same longevity benefits.
“What seems to matter is not entrepreneurship alone, but the circumstances under which people enter it,” Bellavitis said. “When entrepreneurship reflects greater choice and opportunity, the autonomy and sense of purpose that can come with it may provide psychological benefits that extend beyond financial rewards.”
Many entrepreneurs start several businesses. The more time people spent being entrepreneurs and the more frequently they started new businesses were both associated with a longer lifespan.
A key takeaway for non-entrepreneurs
This doesn’t mean you should quit your job and start a business, Bellavitis says. This research can benefit more than just entrepreneurs.
If autonomy, ownership and a sense of purpose at work contribute to happier, healthier lives, employees can seek out these qualities in their jobs — and employers can do more to foster them.
“Creating a more entrepreneurial workplace, where employees have the freedom to make decisions, pursue ideas and see the results of their efforts, may help support engagement and well-being while avoiding some of the financial and personal risks associated with starting a business,” Bellavitis said.
“In many ways, that could be the best of both worlds. Companies can foster the independence, purpose and excitement that often come with entrepreneurship while providing the stability of traditional employment.”