Work-life balance ‘headache’ for entrepreneurs
Juggling family life while growing a business tops poll of challenges
Cashflow and payroll also major concerns, finds Moore and Smalley research
Business owners urged to ‘invest in the right support’
The pressure of balancing family life with running a business is the biggest headache faced by aspiring entrepreneurs, according to a poll by a Preston accountancy firm.
Half of small business owners (50%) in a survey by Moore and Smalley admitted worrying about the amount of time they spend working at home outside normal business hours.
Almost one in three (29%) said managing cashflow was their greatest concern, with just over one in ten (13%) saying that keeping on top of invoicing was their main challenge.
Managing the company payroll and ensuring employees get paid on time is another issue that keeps company bosses up at night, with 8% saying this was their greatest business fear.
Judith Dugdale, a director at Moore and Smalley, said: “Running your own business is not for the faint-hearted. It takes bags of resilience and many tough choices need to be made along the way.
“The results of our latest poll show the need for business owners and those who are self-employed to seek help in achieving a better work-life balance. Getting good advice and investing in the right support functions as the business grows can make a huge difference.”
Moore and Smalley launched a cloud accounting service in 2015 to help small business owners and the self-employed to manage their accounts, invoicing and payments on the go.
The service, known as SE+, is powered by Intuit Quickbooks software with additional support provided by Moore and Smalley’s team of business, accounting and payroll specialists.
Judith added: “SE+ streamlines the administrative burden and enables small business owners to focus on what they do best – growing the business.”