SME time issue

Small business owners lament lack of time

Research reveals that small business owners are losing an average of £4,000 annually due to time constraints affecting their financial management. A study of 500 SME owners found that 68% have not updated their expenditure management strategies, with 9% concerned about unnecessary monthly spending between £1,000 and £3,000. The research, commissioned by Smart Energy GB, highlights that 41% of owners waste money on unused subscriptions, while 33% struggle with excessive responsibilities. To combat these issues, 89% of owners are open to new approaches, with 57% adopting technology to enhance productivity.