SMEs 'prioritise administration over business growth'
11 Jul 2014
Research indicates that one in four business owners spend half of their day working on activities such as finance, HR and IT, and are neglecting business operations that could drive growth.
The researchers, Ingenious Britain, also discovered that some of the biggest challenges faced by SMEs are to do with expanding their business and obtaining new clients. Rather than freeing up time to channel into these more challenging tasks, the study found that owners are likely to be drawn into operational responsibilities. Some 70% of owners find it difficult to relinquish control of these jobs and choose to keep the tasks within the business, rather than outsourcing the work. With the more challenging aspects of business often falling to the wayside, experts warn that many SMEs are failing to achieve their maximum potential. We can help you to manage your business processes effectively and maximise any potential growth opportunities – contact us to discuss your particular circumstances.