An increasing number of new entrepreneurs have not started their own business for traditional reasons but are instead seeking the freedom to spend more time with their family, according to a new study.
Research by insurer MORE TH>N found that nearly half of so-called "alterpreneurs", or those who have set up their own business for lifestyle rather than financial reasons, say that their motivation for starting up was to have more time with their family and friends.
The report found that three in four alterpreneurs believe their quality of life has improved, and more than eight in 10 state that their overall motivation for starting a business was because they wanted to be happier.
Britain's long-hours culture has its effects on children, with many working parents claiming that their children suffer stress when they have had a bad day in the office, MORE TH>N said.
Their children's well-being finally struck a chord with many alterpreneurs, which has prompted them to give up the daily grind.
"I found the stress of commuting to London with a 5 1/2 month old baby back in Oxfordshire just too much to bear," said Judy Osborn, who quit her senior-level job in a London PR firm to set up her own company, Purple Rabbit Ltd.
"Starting my own business was the best decision I've made, as it has allowed me to become more 'Mum' than 'Working Mum'. My firm has done well and I can honestly say that I now enjoy the best of both worlds - work and private life."
As a way to better balance work and family, the report urged people to audit their time and schedule days where they can stop working a few hours early, make rules to limit email use, get exercise and try to reconnect with friends outside of work.
