SME owners have said they feel proud, happy and inspired from running their own business.
According to a survey by AXA PPP Healthcare, a huge 70 per cent of owners revealed they feel proud, inspired, content or fortunate to own their own business. Over half, 58 per cent, also recognised the greater flexibility and a third the greater freedom that owning a business gives them. Indeed nearly two thirds, 62 per cent, said they were “thriving” as a result of being an owner. Helping in this regard was the finding that many SME owners are able to switch off from their work, with over a third doing so by spending time with their family, a fifth by taking exercise and a tenth stating that they would go to the pub or have a drink. Nearly two-thirds said they felt pressured only some of the time or not very often, suggesting they were getting the work/life balance right. Read more about business and consumer confidence:
Glen Parkinson, SME business director at AXA 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.” Regarding their business prospects the owners were also extremely positive. Two thirds of SME owners said they were optimistic about the growth of their firms over the next five years. The survey also asked what areas of business owners were involved in on a day-to-day basis, with business strategy being the most common area. They were also regularly involved in business operations and production and new business development. More than half were involved in sales and marketing and customer service on a daily basis. More than a third of the SME business owners thought they could delegate more to improve the way they manage their business. Parkinson added: “SME owners are very positive about the future growth of their business, which is fantastic to see. The future looks bright for the UK’s SMEs, which is great news for the economy, as they are the backbone of our economic output. “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.”
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