Family support vital for SMEs

Over half of small businesses feel their families provide more support and practical advice than their financial service provider or local business support organisation, according to research from insurance provider Brighter Business.

The poll of 1,000 small companies was carried out to gain an insight into their concerns and frustrations. ‘Worryingly, the findings reveal that the needs of small business owners are not being adequately met by the organisations set up to help them, making them turn to their families instead,’ says Brighter Business.

SMEs with fewer than five employees rate business support organisations the least helpful, whereas SMEs with 51-100 employees cite their level of support as slightly higher.

A total of 40 per cent of small businesses feel that their accountant offers a good level of service, yet only one in five are happy with the service of their independent financial advisor.

Robert Bartlett, founder and managing director of Brighter Business, comments: ‘It is shocking that small businesses feel that their families offer more support than the ‘so called’ professionals. Anyone who has started or run a small business knows how our families provide vital emotional and practical support however they cannot always be expected to offer in depth business expertise or advice.’

Adam Wayland

Adam was Editor of SmallBusiness.co.uk from 2006 to 2008 and prior to that was staff writer on sister publication BusinessXL Magazine.

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