Entrepreneurs May Live Longer Than Employees, New Study Finds
A new study from the Stevens Institute of Technology suggests that American entrepreneurs have a 10% lower risk of premature death compared to employees, despite the high stress and long hours associated with self-employment. The research indicates that the autonomy and sense of purpose gained from running a business may outweigh the mental strain, leading to better overall health outcomes.
Key points
- Researchers analyzed over 20 years of data from more than 27,000 Americans aged 50 and older.
- Entrepreneurs were found to have a 10% lower risk of early death, even after controlling for age, income, education, and wealth.
- The longevity benefit was strongest for 'opportunity-driven' entrepreneurs who started businesses to pursue innovation or market gaps, rather than those forced into entrepreneurship due to job loss.
- Entrepreneurs reported lower levels of depression and loneliness compared to employees, which is linked to better health and longer life.
- The more time individuals spent as entrepreneurs and the more frequently they started new businesses, the greater the association with a longer lifespan.
- Study author Cristiano Bellavitis suggests that employees can seek similar benefits by demanding more autonomy and purpose in their current roles, and employers can foster these qualities without the risks of starting a business.
Background
This finding adds to a growing body of research exploring the complex relationship between lifestyle factors and longevity. Recent studies have highlighted how specific health conditions, such as higher BMI at the time of a dementia diagnosis, or genetic factors like having a centenarian parent, can influence lifespan. Additionally, emerging research on GLP-1 drugs like semaglutide has shown potential for slowing aging in animal models. While these studies focus on biological or genetic markers, the new entrepreneurship research highlights the significant impact of psychological factors, such as autonomy and purpose, on physical health and longevity.
Why it matters
The study challenges the common assumption that high-stress, long-hour jobs always negatively impact health. It suggests that the psychological benefits of autonomy and purpose can counteract the stress of entrepreneurship, leading to better health outcomes. This has implications for both entrepreneurs and employees, suggesting that fostering a sense of ownership and purpose in the workplace could improve well-being and longevity for all workers, not just business owners.
What to watch
The research does not recommend that everyone quit their jobs to start a business. Instead, it suggests that employees should seek more autonomy and purpose in their current roles, and employers should create more 'entrepreneurial' workplaces that allow employees to make decisions and see the results of their efforts. This could help support engagement and well-being while avoiding the financial and personal risks associated with starting a business.
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