Small business owners feel like they are ‘masters of their own destiny’

Over nine in ten small businesses are either 'very' or 'quite' happy about prospects for business.


Over nine in ten small businesses are either ‘very’ or ‘quite’ happy about prospects for business.

According to a survey compiled by American Express, some 93 per cent of UK small businesses are happy in their jobs and optimistic about the future.

On top of that, 70 per cent cite ‘being master of my own destiny as the main motivator of job satisfaction along side ‘doing something I like or believe in (66 per cent) and ‘reaping the financial benefits of my own efforts’ (42 per cent).

Stacy Sterbenz, director for American Express Small Business Services UK, comments, ‘It is encouraging that despite the ongoing challenging economic environment, small business owners say they are happy at work.

‘They know that they have tough challenges ahead but appear to be gritting their teeth and focusing on the positives.’

Despite the high optimistic nature of small business owners, 40 per cent want to reduce stress levels and 33 per cent hope to find more time for holidays.

The proportion of those who have gone without time off for the last 12 months stands at 46 per cent, while 47 per cent are working longer hours.

On financial matters, some 71 per cent proclaim they manage their cash flow ‘carefully’ on a day-to-day basis, with 54 per cent admitting to using a business credit or charge card.

Customers paying late is singled out as an added pressure on cash flow by 29 per cent of small businesses.

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