Small business owners feel fortunate despite the stress

Small business owners feel fortunate despite the stress

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Date21 Oct 2015
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Posted ByAdmin
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Based on a research of more than 500 business owners employing up to 30 people, AXA PP Healthcare found that 70% of the SME owners were "proud, inspired, content or fortunate to own their own business".

In the survey from June 2015, the researchers found that 58% of the respondents appreciated the flexibility that came with running their own business, while 37% said they now had more time to do things.

Almost 80% of the small business owners surveyed said they were focusing on business strategy, while 61% said they were mostly involved in the day-to-day operations of the business, production and new business development. Nearly a sixth of the respondents were in the front-line of the business handling sales and marketing (59%), and customer-service (55%).

Commenting on the results, Glen Parkinson, Director at ACA PPP healthcare, said, "It's good to see SME owners flourishing as a result of having their own business. Coming into work feeling inspired or fortunate is a great motivator and helps productivity and creativity to blossom."

However life isn’t perfect. There is no rose without a thorn. Nearly 35% business owners had trouble delegating their work to improve the efficiency of their business, and 47% felt the pressure of work was spilling over into their home lives. Despite this many were able to switch off from work with 22% taking to exercise and 36% spending time with their family.

To put these statistics in perspective, Glen Parkinson encouraged SME owners to delegate in order to achieve a work-life balance, “UK SME owners need to delegate more and only have daily involvement in those activities that truly need their expertise. Reducing their involvement in wider business activities and empowering their teams to do these tasks will help build trust and will hopefully prevent them from taking work pressure home.”

With that said, here are few tips to maintain a work-life balance:

  • Learn to delegate the right work to the right people
  • Get regular medical check-ups for signs of overwork
  • Encourage your staff to take holidays
  • Eat sensibly, exercise regularly and spend time with family
  • Relax and switch off from work mode every day and on weekends

Bradleys Accountants offers a range of accountancy and taxation services designed specifically to help individuals, SMEs, contractors and start-ups thrive. For more information, email contact@bradleysaccountants.co.uk.