By Michelle Miron
Are divorce rates higher among couples that co-own a business?
Consider the 24/7 togetherness, the disagreements over business decisions, the juggling of work and family, and the worries over the bottom line. How could that not translate into marital strife?
Chandler and Charlene Clark, co-owners of Signature CanvasMakers in Hampton, Va., say it took years to define their roles enough to achieve success.
“When you spend 24 hours a day, seven days a week together, work—the good, the bad and the ugly—tends to spill over to your personal life,” notes CEO Charlene. “We joke that when we get in the car to go on vacation, we look over at each other and say, ‘You’re coming too?’”
While statistics on the co-entrepreneur divorce rate are scarce, one Marriage.com report places the rate for entrepreneurs at 43 to 48 percent, due in part to cash flow problems. But the same report notes that:
-Entrepreneurs who start businesses with their spouses, sharing family and professional goals, are happier than other entrepreneurs.
-Entrepreneurs who share their daily business news with their spouses are more likely to gain their trust.
-Eighty-eight percent of entrepreneurs’ spouses would remarry them in spite of the downsides.