Starting a business may be good for more than financial independence. Despite the long hours, uncertainty and stress often associated with running a company, entrepreneurs may actually live longer than people who spend their working lives as employees. A new study from Stevens Institute of Technology suggests that the freedom to make decisions, pursue personal ambitions and find meaning in work could offer important benefits for long-term health and well-being.

The research, led by Cristiano Bellavitis, an associate professor at the School of Business at Stevens Institute of Technology, and his collaborators, analysed more than two decades of data involving over 27,000 Americans aged 50 and older. The findings revealed that individuals with entrepreneurial experience had approximately a 10% lower risk of death than non-entrepreneurs, even after researchers accounted for differences in age, income, education and health.

While entrepreneurship is often associated with financial pressure and demanding schedules, researchers believe its psychological rewards may help explain the longevity advantage. Entrepreneurs typically enjoy greater independence, control over their decisions and opportunities to pursue meaningful goals. “Most people think of entrepreneurship as extremely stressful, and it certainly can be,” Bellavitis says. “But entrepreneurship also gives people a high degree of autonomy and the opportunity to pursue something they genuinely love or care about.”

Mental health emerged as an important factor in the findings. Entrepreneurs reported lower levels of depression and loneliness, two conditions associated with poorer health outcomes and reduced life expectancy. Researchers suggest that having greater control over one’s working life and a stronger sense of purpose may contribute to psychological well-being, potentially offering benefits that extend far beyond financial success.

However, not all entrepreneurs experienced the same advantages. The strongest longevity benefits appeared among opportunity-driven entrepreneurs — those who voluntarily started businesses to pursue promising ideas or personal ambitions. Individuals who entered entrepreneurship out of necessity, such as after losing employment, did not experience comparable benefits. According to Bellavitis, the circumstances surrounding the decision to become an entrepreneur may be just as important as entrepreneurship itself.

Published on 22 October 2026 in the Journal of Business Venturing, the study, titled Do Entrepreneurs Live Longer?, also found that longer and more frequent involvement in entrepreneurship was associated with greater longevity. Nevertheless, researchers caution that the findings demonstrate an association rather than a direct cause-and-effect relationship. Although the results remained statistically significant after extensive adjustments, they do not establish that starting a business necessarily extends someone’s lifespan.

The findings also carry implications for traditional workplaces. Employers could potentially capture some of entrepreneurship’s psychological benefits by giving staff greater independence, encouraging creativity and allowing employees to take ownership of their work. Bellavitis emphasises that the message is not that everyone should abandon conventional employment. Rather, creating opportunities for autonomy, meaningful engagement and personal fulfilment may support healthier, more satisfying working lives — whether someone runs a business or works for one.

More information: Yanying Chen et al, Do Entrepreneurs Live Longer? A Cox Survival Analysis of Entrepreneurship and Lifespan, Journal of Business Venturing. DOI: 10.2139/ssrn.7493679

Journal information: Journal of Business Venturing Provided by Stevens Institute of Technology