SME challenges

Small business bosses reveal year one challenges Small business owners have revealed the biggest challenges during the first year of trading, with these including long hours and no time off, according to a poll for accounting software company Osome. Of the 1,000 entrepreneurs quizzed, 64% said taking time off is practically impossible over the first 12 months, while 29% said not being able to switch off is an issue. While more than a quarter worked for at least 12 hours a day, four in 10 got six hours or less sleep a night. Keeping on top of paperwork was cited as a struggle by 23%, while having very little money was flagged by 30%. Despite the pressures seen in the first year of business, 91% are glad they started their company and 77% would recommend running a business to others, although six in 10 said there were things they would do differently now. Asked to detail the best things about launching an enterprise, 70% said being your own boss, 55% pointed to having satisfied customers and 48% said making a profit.

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