A Study on Exploring Relationship between Entrepreneurship and Work Life Balance: An Examination on Challenges, Strategies and Impact on Well Being

Abstract

Abstract: This research investigates the relationship between entrepreneurship and work-life balance, focusing on challenges, coping strategies, and their impact on well-being. A quantitative approach was adopted, utilizing a structured questionnaire administered to entrepreneurs and self-employed individuals across diverse industries. Convenience sampling was employed to recruit participants, with data collected through online surveys and face-to-face interviews. Descriptive statistics, correlation analysis, regression analysis, and factor analysis were utilized to analyze the data. Results indicate a recognition among entrepreneurs of the importance of work-life balance and its impact on productivity and well-being. Significant challenges include excessive workload, conflicts between entrepreneurial roles and personal obligations, and interference of business activities with personal life. While entrepreneurship offers flexibility, it does not always afford more time for personal interests. Coping strategies such as setting boundaries and disconnecting from work are employed, but their efficacy varies. Social support networks play a crucial role, with a lack of confidants exacerbating tensions between social/family obligations and entrepreneurial duties. Findings suggest the need for targeted interventions to support entrepreneurs in achieving a healthy work-life balance and optimizing their well-being