Small business owners make personal sacrifices to stay afloat

Owners of small beauty businesses make huge sacrifices to give their companies a chance at success, according to new research.

Business solutions company Sage UK found situations such as re-mortgaging homes and dipping into personal savings are commonplace among the owners of small and medium-sized businesses such as salons, who are determined to make a success of their ventures.

One in five UK small business owners has been so concerned with income that they have worried how they will afford to pay staff. This figure was higher than in France or Germany.

The research also asked UK business owners what they would like the Government to do to ease the strain. 65% of UK respondents said they plan on taking on new staff over the next two years to share the workload, though expect support from the Government in return for generating employment and boosting the economy. 84% said they have never received any kind of support from the state, financial or otherwise, and would like to see a reduction in business tax, business legislation cuts and controls on utility costs to help their businesses succeed.

No doubt adding to the stress of those who run their own businesses, the research found that globally, a quarter work more than 50 hours per week and over half (56%) commonly work weekends and rarely take their entire holiday entitlement.

Brendan Flattery, president for Sage Europe, said: “Small and medium businesses are the engine of our economy. Their leaders are true heroes, willing to make a great personal sacrifice and take significant risks in the name of growth and job creation. “It is the responsibility of our Government to listen to their demands to reduce the burden of business rates and to also cut business bureaucracy. Only then can UK businesses finally flourish.”

This article first appeared in the October issue of Professional Beauty magazine. To make sure you're always the first to read the news, subscribe to the digital issue for just £4.99 a year, or get 13 print issues delivered direct to your door annually for £37.