Owners of small and medium-sized businesses (SMEs) have shared what they love about running their own business
The research, published by property letting agent City Breaks, looks at the motivations of 1,000 UK entrepreneurs – whether that means calling the shots, or just running on their own schedule.
The first, and most favoured, motivation of business owners is being their own boss, with more than three quarters (76 per cent) of respondents citing this as their number one incentive.
For 64 per cent of owners, maintaining a flexible time schedule is a major draw of running their own business.
This is even more pronounced in 18 – 24 year olds, with 85 per cent citing flexible hours as a major motivation.
A slightly less, albeit sizeable chunk of owners believe that making their own decisions is a major motivation, with 40 per cent of men and 50 per cent of women citing this reason.
Meanwhile, a quarter (25 per cent) of entrepreneurs believe that being in charge of who is – and isn’t – employed is the best thing about being a business owner.
Salary benefits appeared in just 16 per cent of respondents’ answers, while just nine per cent cited choice of location and the opportunity to go on business trips.
Experts have urged businesses to “plan ahead” so that payments to staff and suppliers do not get delayed over the Easter weekend.
The call, from Bacs Payment Schemes, reminds owners that Friday 14 April and Monday 17 April are classed as public holidays, and therefore do not count as payment processing days.
For payments to arrive before the Easter weekend, it says, payments must be filed by Tuesday 11 April.
Likewise, for payments made immediately after the weekend, the latest a business can issue a payment is Wednesday 12 April.
Mike Hutchinson, of Bacs, said: “Easter is fast approaching and we don’t want businesses to be caught out with important payments being delayed because payment files have not been submitted taking those bank holidays into account. Planning ahead is essential if staff and suppliers are to be paid, and customer payments collected, on time.
“Payment files can be submitted up to 30 days in advance and a helpful processing calendar is available from our website which gives details of all the processing dates around public holidays for the rest of 2017.”
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The Government has today announced its intent to keep British business at the forefront of the “digital revolution”.
It says it will offer digital skills to “millions of individuals, charities, and businesses” by 2020.
It has also announced the development of five international technology hubs in emerging markets to give businesses a head start in international trade.
Karen Bradley, Secretary of State for Culture, Media and Sport, said: “The UK’s world-leading digital sectors are a major driver of growth and productivity, and we are determined to protect and strengthen them.
“This digital strategy sets a path to make Britain the best place to start and grow a digital business, trial a new technology, or undertake advanced research as part of the government’s plan to build a modern, dynamic and global trading nation.”
The Government will work alongside global partners, namely Google, Lloyds Banking Group and Barclays, to deliver free digital training to the UK.
Barclays alone said it will teach basic coding to 45,000 children and general digital skills and cyber-awareness to one million people.
Tech City UK chief executive Gerard Grech welcomed the plans, adding that the UK’s tech sector will become a “global force to reckon with”.
“We must ensure that we stay ahead by continuing to provide a supportive environment for British start-ups and digital companies to grow in, especially since other countries are trying to take advantage of our departure from the European Union,” he said.
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