Small business owners and self-employed Kiwis create companies for all sorts of reasons. Being their own boss or chasing long-held dreams are a way of fueling their passion.
But for many, the realities of running a business can often mean losing sight of why they’re in it – especially during a period dominated so heavily by COVID -19.
Luckily, there is hope. For businesses focused on two key areas – well-being and digitalisation – research indicates a higher likelihood to weather future storms.
A recent study from independent consultancy group NZ Institute of Economic Research (NZIER) concluded an acceleration of digitalisation and investment in well-being can return dividends for SMEs – better placing them to ride out the economic recovery.
The report will be comforting to many entrepreneurs. The survey of 1,000 Kiwi small business owners recently found:
- 33% of business owners feel they work too many hours on average each week
- 28% don’t believe it’s sustainable to continue working the hours they do
- 33% believe they spend too much time on business administration
- More than half of all SME owners and self-employed workers say administrative work takes too much time and gets in the way of the aspects of the work they enjoy.
This adds to increased stress for the business owner which in turn affects their partner and family.
We can help you with digitalisation (Xero installation, training etc.) and reduce your administrative tasks, which will enable you to “do what you do best, and we’ll do the rest”.