Over two in five small business owners admit to missing special occasions including weddings and birthdays, due to workload
- Category: International
Running a small business is a ‘constant challenge’ say 62% of small business owners
London, United Kingdom – 01 September 2014: Time-stretched small business owners are having to put work before special occasions, a new study reveals. The
Nearly a fifth of small business
These findings clash with the discovery that 44% of small business owners set up because they ‘wanted more flexible working hours’. With 39% admitting that running a business has proven to be more challenging than expected, it seems that reality doesn’t always meet expectations. After the buzz and excitement of setting up a company, more than two in five small business owners describe running a small business as ‘
Some of the top tasks that small business decision makers have found more challenging than expected include managing staff (32%) and accounting or tracking finances (25%). In fact, over a fifth (22%) of decision makers claim that their small business spends more than 10 hours per day on average on ‘behind the scenes’ admin tasks such as these.
With admin tasks proving tougher to manage than expected, small businesses run the risk of missing out on vital strategic growth activities. This issue has not gone un-noticed by SME owners - given an extra hour in the working
The time pressure facing small business owners could be linked to the difficulty many find with delegating to employees. A total of 37% admit to worrying about handing control over to employees when taking time away from the business, with more than half worrying that staff will make accidental errors in their absence. It seems that the desire ‘to be in control’ that inspired 49% to start their businesses is leaving owners tied to their businesses at great personal expense.
All figures, unless otherwise stated, are from YouGov Plc
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