Small business owners face loneliness and tough decisions

Working alone and having to make tough business decisions without help or advice are two principal causes of concern for small business owners, a new survey has shown.

The survey, conducted by insurer AXA Healthcare, found that 62 per cent of small business owners believe making tough decisions alone was one of the most difficult aspects of running a small business, with nine per cent claiming they had very few options in terms of receiving advice.

Nearly half of the survey’s respondents answered that they’d like to receive greater support in running their business, whilst 29 per cent said they would like more help from the government and 16 per cent said they wanted more business planning.

SME business director at AXA Healthcare, Glen Parkinson, said: ‘small businesses are the backbone of the UK economy and this survey highlights the efforts small business owners are making to boost it.

The survey also outlined that many small business owners relied on their families for support, with 21 per cent of respondents claiming that family members were the sole form of business support.

Parkinson added: They have to lead their business, drive growth and ensure essential activities are well managed. The pressure of this responsibility is leading owners to put in long hours, which is consequently impacting their home lives, this is unsustainable and can lead to illness that could potentially damage the business.

owners are positive about the future and working hard to achieve their goals but we worry that they lack the right kind of support to make the success of their business sustainable.

Despite calls for greater levels of help and advice, most small business owners remained confident, with 67 per cent of respondents answering that they felt optimistic about the growth of their business over the next three to five years.