GLENVIEW, IL - 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, a new survey shows.
The September 2016 SurePayroll Small Business Scorecard also indicates 42 percent 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 percent said navigating tax and employment laws.
- 18 percent said swings in income due to the changing profitability of the business.
- 14 percent said managing employees.
On the other side of the coin, 44 percent 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 percent) and the financial rewards (8 percent).
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 theyre satisfied with what theyre doing, said SurePayroll General Manager Andy Roe.
In fact, 92 percent 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 youre doing what you love and what youre 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.
