1. Introduction
Quality of life is one of the main conceptual categories in many scientific disciplines and in socioeconomic practice. It is often used as a measure of the level of social development in comparative studies of countries or social groups [
1,
2,
3]. According to the authors of this study, the assessment of health-related quality of life (H-RQoL) is particularly noteworthy in relation to entrepreneurs (subjective health-related quality of life is referred to in this paper as health-related quality of life, satisfaction with one’s own health, or perceived health condition). Research results indicate the very fact of starting one’s own business is significant for quality of life [
4,
5] in its objective and subjective dimensions (
Figure 1).
However, the results of numerous studies indicate that quality of work life (QWL) is also important for entrepreneurs’ quality of life. According to Rose et al. [
6], Sirgy et al. [
7], Stucki and Bickenbach [
8], and Subba and Neelima [
9], the six most important QWL determinants include pay and stability of employment, occupational stress, work schedule, interpersonal relations, working conditions, and occupational safety. These factors affect all employees of a company in different ways, as well as entrepreneurs themselves in a specific way.
It is worth noting that the financial status of entrepreneurs, especially owners of long-established businesses, is often higher than that of non-entrepreneurs [
4]. Litvin and Petrascu [
10] also showed that for entrepreneurs, the implementation of investment policies is important for their quality of life. A particularly favorable impact on the quality of life occurs when the investment activity is of an innovative nature [
11]. Hamilton [
12] also observes that self-employment can increase the level of perceived life satisfaction. However, Charles-Leija et al. [
13] observed a lower level of life satisfaction and perceived health condition in entrepreneurs, compared to their employees. Entrepreneurs are often heavily burdened with work and exposed to the negative effects of stress [
14] and occupational burnout [
15]. They also sometimes find it difficult to balance work and family responsibilities, which can be a cause of work–family conflict [
16]. Especially since entrepreneurs not only value independence and higher income, but also leisure time and work–life balance, which can be a potential ground for internal conflict and have a negative impact on some quality of life domains [
17,
18].
Koponen [
19] and Litwin and Phan [
20] also found that political factors, including the ability to co-create social and economic assets, are also significant for the quality of life of entrepreneurs, as well as for motives for starting a business. The necessity of starting one’s own business may sometimes result from negative motives, e.g., high unemployment rates and lack of employment opportunities; job loss; low wages, which do not allow satisfying one’s needs; deterioration of the family situation; or requirements imposed by some companies, mainly corporations, such as the transfer of employees into so-called self-employment schemes. Sometimes positive motives, i.e., striving for independence, self-fulfillment, improvement of the material situation, or willingness to create new assets, are more likely to lead to starting one’s own business. In the case of the dominance of the former group of motives—a negative or neutral impact—and in the case of dominance of the latter—a neutral or positive impact on quality of life assessment can be assumed [
21].
An important, but hitherto marginally considered in empirical studies, determinant of the quality of life of entrepreneurs is their socioeconomic status. Contrary to popular belief, entrepreneurs are a diverse group in this regard. For example, there may be large differences in income and wealth between the owner of a large trading company and a self-employed barber. However, previous studies have only investigated age, sex, and education level as potential predictors of entrepreneurs’ quality of life. Fatoki [
22], Gherardi [
23], and Rehman and Roomi [
24] showed that male sex may be a significant predictor of higher quality of life for entrepreneurs. Pounder [
25] observed that younger age and higher education level are associated with higher quality of life. Similar observations regarding age were made by El Shoubaki and Stephan [
26], but they did not confirm any significant correlations between quality of life and education level.
Thus, the results of previous research on the socioeconomic determinants of entrepreneurs’ quality of life are not uniform. Moreover, family and material factors as potential quality of life modifiers have not been taken into account until now. It should be noted that the determinants of overall quality of life and health-related quality of life of entrepreneurs have rarely been examined. The authors of this paper believe that the assessment of health-related quality of life (H-RQoL) in this professional group deserves special attention. Thus, the choice of this research subject is justified both by its poor recognition in the literature, as well as by the more general premise related to the recognition of health-related quality of life as a key predictor of overall quality of life [
8]. Reducing the identified research gaps is therefore a key objective.
The aim of this study was to examine the assessments of overall quality of life and health-related quality of life, and the relationship of these assessments to selected indices of the socioeconomic status of entrepreneurs, using the example of selected representatives of this professional group from Wrocław (Poland). Two research questions were formulated:
4. Discussion
The study results show that the majority of the surveyed entrepreneurs assessed their overall quality of life, perceived health condition, and health-related quality of life in the physical, psychological, social, and environmental domains as at least average. Some previous studies also indicated a relatively high quality of life for entrepreneurs compared to representatives of other professional groups [
4,
5,
10,
11]. Financial advantages [
4], possibilities of development [
11], and independence [
13] are indicated as the main reasons for the high quality of life of entrepreneurs. However, it should be mentioned that Charles-Leija et al. [
13] reported lower quality of life scores for entrepreneurs compared to their employees. The analysis of literature indicates that this may be due to the heavy workload and stress [
14] and the difficulty of reconciling professional responsibilities with other areas of life, mainly family life and leisure time [
16,
17,
18,
29]. Therefore, the problem of assessing the quality of life of entrepreneurs has not yet been completely resolved.
The assessment of overall quality of life, perceived health condition, and health-related quality of life in the physical, psychological, social, and environmental domains by entrepreneurs from Wrocław was differentiated by marital status, number of people in the household, per capita income, savings, and debt.
People in relationships, compared to those living alone, were more likely to report at least an average level of health-related quality of life in the physical domain. Glenn and Weaver [
30] indicate that marriage contributes to well-being for both men and women. Statistically significant associations between quality of life and marital status were also noted by Povey, Boreham, and Tomaszewski [
31]. Voss, Floderus, and Diderichsen [
32] also showed that divorce often contributes to problems in the workplace and, consequently, to lower quality of life scores. At the time of the study every third married couple in Poland had divorced [
33], so some of the unmarried respondents were likely to have experienced divorce.
As the number of people in the household increases, the odds of reporting at least an average overall quality of life and health-related quality of life in the physical and psychological domains decreased, but this increased in the social domain. The results of some studies indicate that having children may sometimes reduce the quality of life of both sexes [
30]. In modern societies working parents often face difficulties in trying to balance work and family responsibilities. This can have a negative impact on quality of life and cause stress, especially when having a large family. This is a likely explanation for the decrease in quality of life scores with the increasing number of people in the household, as found in our study. Moreover, a large number of people in the household may also include elderly or sick people in the household. As shown by some authors, the numerous problems associated with caring for the elderly and the sick may cause health problems and deterioration in the quality of life of caregivers, especially in the physical and psychological domains [
34,
35,
36].
A higher per capita income in an entrepreneurs’ household was associated with a higher likelihood of at least average overall quality of life, perceived health condition, and quality of life in the social and environmental domains. Positive associations of overall quality of life with income levels have already been noted in empirical studies. Kulik et al. [
37] showed that income, in addition to variables such as place of residence and professional activities, has a significant impact on the quality of life of people of working age. Yasartürk, Akyüz, and Gönülates [
38] reported positive correlations between leisure satisfaction, quality of life, and family and personal income. Monthly income and health behaviors are also primary predictors of quality of life, as observed by Kooi-Yau Chean et al. [
39]. The income level and employment status were significant predictors of quality of life in Povey, Boreham, and Tomaszewski [
31]. The significant impact of economic security, including income and medical insurance coverage, on health-related quality of life was also confirmed by Chiu and Yang [
40]. Some studies indicated that particularly strong positive associations of health-related quality of life with income can be found in countries with a medium level of economic development, including Poland. For example, Frijters, Haisken-DeNew, and Shields [
41] noted that higher real household income led to a significant increase in the quality of life of the inhabitants of East Germany following reunification. Research findings also indicate that economic deterioration and associated stress are almost always linked with a decrease in quality of life. This is particularly evident in situations of economic crisis and may even be associated with an increase in human mortality [
42,
43].
The conditional probability of at least average levels of overall quality of life, perceived health condition, and health-related quality of life in the physical, social, and environmental domains was higher in entrepreneurs with savings compared to those without savings. Yodmai, Somrongthong, and Kumar [
44], in their study of the quality of life of the elderly in Thailand, concluded that sufficient income, savings, and healthcare services are significant quality of life determinants. According to Clarke et al. [
45], the amount of savings, e.g., in retirement plans, is also often related to the expected quality of life.
Entrepreneurs with debt were significantly less likely to report at least average health-related quality of life levels in the physical domain than those with no debt. Results of previous studies of different social groups indicated that debt had a large and negative impact on quality of life, and which is higher in women than in men [
46,
47]. However, earlier studies did not apply to entrepreneurs, for whom financing business activities from external sources may, on the one hand, testify to the dynamic development of the company, on the other hand, be associated with certain liabilities to creditors. Debt (credits and loans) can therefore affect the quality of life of entrepreneurs both negatively and positively. The positive impact of loans on students’ quality of life was reported by Mansilla Chiguay, Denegri Coria and Álvarez Escobar [
46], Chisholm-Burns et al. [
47], and Daniels [
48]. Moreover, debt is usually associated with an increase in current consumption, at the expense of future consumption, which, at least in the short term, can have a positive impact on quality of life, especially in its psychological domain. The results of the present study seem to confirm this tendency. Among the entrepreneurs from Wroclaw, at least an average level of quality of life in the psychological domain was more often reported by those with debt than those without it. According to Cook and Garrett [
49], the direction and strength of the correlation of quality of life assessment with debt also depends on factors such as expectations towards life, experiences, or tolerance of uncertainty. The last element, in particular, is one of the most important attributes of a successful entrepreneur.
Strengths and Limitations
This study has its strengths and weaknesses. Its strength is the selected study group; since, the quality of life of entrepreneurs, especially in post-communist countries, has rarely been analyzed. Moreover, potential modifiers of entrepreneurs’ quality of life such as marital status, number of people in the household, income, savings, or debt, with and without considering the respondents’ gender, age, and education, had not been investigated previously. A weakness of the study is the limitation of its spatial scope to the residents of only one city. Future research should involve a research population representative of Poland as a whole and even include populations from other Central and Eastern European countries. Cross-sectional research should also be replaced by continuous research.