True, but often being a small business owner often requires you to invest a lot of your time into the business, basically working 24/7 without breaks or vacation. I had a friend like that. After working like that for a few years, he quit and went back to a regular job.

Working a regular 9/5 leaves you with money and time to spend on other things (either your family or your hobbies). Plus not everyone can be a freelancer or a business owner.