Average Small business owner Spends 16 Hours weekly on Admin Work
A study by banking firm Barclay’s found that the average small business owner spends on average 16 hours a week on Admin work and only 8 hours actually developing their business. It was also found that as much as 1/10 business owners actually spent no time in putting efforts into growing their business due to the stranglehold of paperwork.
The data also concluded that small business owners work much longer hours than their full time employed counter-parts who worked nearly 60% less in terms of hours. Yet why is this perceived to be such a negative thing? Firstly if small business owners do not have the time to carry out tasks such as internet marketing etc. they will most likely fall behind their competitors-especially those that are larger; and before they know it they will most likely find themselves underachieving, losing out to these other firms.
Small businesses will also lack the time and ability to develop and test new products that could also help them to gain a competitive edge on their competitors. Entrepreneurs require this time more than others as it is up to them to make their product or service sell and not the sales and marketing department as would be the case in some business.
Of course this time is likely to become slimmed down in the future with software advancements and the like- however they will still require manual data entry and maintenance, something which still will take up the owners time. For entrepreneur and small business owners the phrase time is money could not be more applicable.
Entrepreneur who manage several different businesses are also finding that admin work is becoming a hassle as they have the usual constraints of business multiplied.
We here at www.Arkaybe.com help to give small business owners those 16 hours back. Our Virtual Assistants aim to make the world of small businesses operate better- freeing up businesses from the grip of admin work and therefore allowing small businesses to put out better products into the marketplace- making it work better for consumers. Arkaybe also appreciate how tight cash-flow can be for small businesses and so were willing to make a charitable donation of 5% of the profit on every sale on their behalf to a charity of their choice.