It’s good to talk.

December 14, 2015 by Andy Crow at Chorus

It’s good to talk.

A recent survey by AXA PPP Healthcare showed that over 60% of small business owners of often make difficult decisions on their own, with 9% claiming they have nobody to turn to for advice.

Of those who do have support, 21% said they rely on their family, 19% on other directors or business partners, while 16% turn to fellow business owners through a networking group or their employees.

When asked about additional support, over 40% said they would like more support in running their business while the same number wanted better access to finance. 29% were looking for more support from government and 16% wanted support with business planning.

Despite their need for more assistance, over 65% said they felt optimistic about the growth of their business in the next three to five years. Their confidence is well founded. As is the case in the wider economy, turnover at businesses with fewer than 20 employees grew by 9%.

So whilst owners are positive about the future and working hard to achieve their goals, there seems real evidence that they lack the right kind of support to make the success of their business sustainable.

A business owner has to lead their business, drive growth and ensure essential activities are well managed. The pressure of this responsibility, without assistance, can mean extended working hours, which will consequently impact on their home lives. This is unsustainable and can lead to illness that could potentially damage the business.

So if you are reading this and thinking that some of these issues are relevant to you, give Chorus Business Advisers a call on 0845 867 1263 or visit our website www.chorusadvisers.co.uk for a free initial consultation.