Many Small Business Owners Have Too Many Responsibilities
One of the best parts of being a small business owner and an entrepreneur is the ability to be your own boss. However, that responsibility is also one of the hardest parts, according to the September 2016 SurePayroll Small Business Scorecard®.
• 42% said having to handle too many responsibilities on their own is the worst thing about owning a business.
What are the other most challenging aspects of being a small business owner?
• 20% said navigating tax and employment laws.
• 18% said swings in income due to the changing profitability of the business.
• 14% said managing employees.
On the other side of the coin, 44% said being their own boss is the best thing about owning a business. A third said the opportunity to grow a company was the best part of the endeavor.
Ranking fairly low on the list of pluses was working with employees (8%) and the financial rewards (8%).
“There are definitely tradeoffs in going into business for yourself – entrepreneurs take everything on their shoulders and that can wear a person down. At the same time, the vast majority tell us they’re satisfied with what they’re doing,” said SurePayroll General Manager Andy Roe.
In fact, 92% said they are satisfied with the combination of added freedom and added responsibility they have as a business owner.
“There will always be challenges, but when you’re doing what you love and what you’re really good at, it gives you a totally different perspective on the work,” said Roe.
Learn more about the best and worst of being a small business owner on the SurePayroll Blog.
SurePayroll is the trusted provider of easy online payroll services to small businesses nationwide. Whether a business has 1, 10, or 100 employees, SurePayroll delivers peace of mind by combining innovative, industry-leading technology and personalized support from an award-winning, U.S.-based customer care team. SurePayroll also provides private-label and co-branded services for accountants and banking partners as well as offering efficient online solutions for managing 401(k) plans, health insurance, workers’ compensation, employee screening and more. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit www.SurePayroll.com. Follow us on Twitter – Circle us on Google+ – Connect with us on LinkedIn – Like us on Facebook.
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 45 years of industry expertise, Paychex serves approximately 605,000 payroll clients across more than 100 locations and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.
The post The SurePayroll Small Business Scorecard®: What’s the Worst Thing About Owning a Business? appeared first on Home Business Magazine.