SME owners love what they do, despite the increasingly long working hours they have to put in, a new study of more than 200 Australian SME owners has found.
Close to 70% of SME owners say they love running their own business, according to the survey by accounting firm RSM Bird Cameron.
And it’s just as well – almost a third of SME owners put in more than 50 hours per week at work, up from 25% in 2005.
The long hours may have come as a surprise to some SME owners, the survey suggests. Asked what motivated them to start their own business, 56% say it was to achieve work-life balance, ahead of earning a living or the most popular motivator in 2005, creating wealth.
But for most SME owners, the chief reason for starting their own business was to be their own boss, with 60% site it as their chief motivating factor.
You can help us (and help yourself)
Small and medium businesses and startups have never needed credible, independent journalism and information more than now.
That’s our job at SmartCompany: to keep you informed with the news, interviews and analysis you need to manage your way through this unprecedented crisis.
Now, there’s a way you can help us keep doing this: by becoming a SmartCompany supporter.
Even a small contribution will help us to keep doing the journalism that keeps Australia’s entrepreneurs informed.