Member Article

Entrepreneurs 'wasting time'

More than a third of small business owners are not spending enough of their time helping their company grow, according to new figures. The survey, by Enterprise Rent-A-Car, found that one in three entrepreneurs are spending over 20% of their working day concentrating on things outside the core activity of their company, such as administration.

Just one in eight said they organise their time so over 95% of their working day is spent purely on business.

The company said the sector has ‘long been dogged with the issue’, with a lack of resources often requiring business owners to spend their time organising transport, fix IT problems, and ordering and managing office supplies, rather than focusing on driving their business.

Rob Ingram, the company’s UK business development manager, said: “For these individuals, there aren’t enough hours in the day - what these figures have shown is that many of them could be creating time for themselves by using their day more effectively. “Often, the financial outlay of outsourcing non-core activities can seem daunting, but this has to be weighed against the time it takes to manage these activities yourself.

“The bottom line is to bring the right partners on board and make sure you get the most for your money. If it’s taking all your time to simply manage suppliers, that’s clearly a false economy.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .