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Eight in 10 Canadian entrepreneurs say their financial situation is the same or better since they quit working for someone else and made the move to self-employment, finds a CIBC poll.

While 46% of entrepreneurs report working longer hours and having higher stress levels, nine out of 10 say that even with these factors, they’re satisfied with their quality of life.

Read: Email Your Clients: Boost self-employed clients

“Ongoing pressures from increased work hours and higher stress levels can impact future performance and should be factored in when developing business plans,” says Shelley Swanlund, vice-president, Business Banking and Head of Small Business, CIBC.

As Advisor’s Melissa Shin writes, more clients are working for themselves, and “the needs of self-employed clients are very different from those of conventional corporate workers.”

“The rewards of serving these clients are worth it. You’ll differentiate yourself, and if you’re a proper guide, you’ll gain valuable referrals from the accountants, lawyers, insurance and cash-flow specialists in your network. You might even learn how to improve your own practice.”

Read more here.

Originally published on Advisor.ca

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