British business owners reveal their financial fears

• Amanda Gillam
• 30th May, 2017
• News

Solution Loans recently conducted an online study of 1,000 British entrepreneurs in the hopes of learning more about the financial struggles business owners in particular face – and which among these are generally considered the most intimidating of the lot.

With available options ranging from managing cash flow and maintaining the flow of new business to paying competitive salaries and investing in better processes, we asked participants to share the financial factors they believe cause company owners across the UK the most stress. The results are in, and we’ve recorded them below – segmented by business owner gender and geographical location.

Topline results:

Which of these financial factors do you think cause business owners most stress?

• Losing existing clients: 64.0%
• Managing cash flow: 60.0%
• Continuing to remain profitable: 58.4%
• Late client payments: 51.9%
• Maintaining the flow of new business: 48.1%
• Lack of knowledge of company’s financial situation: 32.0%
• Managing overheads (e.g. bills, utilities, rent): 31.2%
• Paying competitive salaries (to retain top talent): 28.0%
• Finding funding: 24.7%
• Investing in new ideas and better processes: 23.4%
• Unexpected tax bills: 22.7%
• Funding marketing efforts: 17.3%

Male Business Owners:

• Losing existing clients: 61.9%
• Managing cash flow: 59.5%
• Continuing to remain profitable: 56.4%
• Late client payments: 48.7%
• Maintaining the flow of new business: 46.2%
• Managing overheads (e.g. bills, utilities, rent): 35.9%
• Lack of knowledge of company’s financial situation: 28.6%
• Finding funding: 28.2%
• Investing in new ideas and better processes: 28.1%
• Paying competitive salaries (to retain top talent): 19.3%
• Unexpected tax bills: 19.0%
• Funding marketing efforts: 14.3%

Female Business Owners:

• Managing cash flow: 60.6%
• Continuing to remain profitable: 60.5%
• Losing existing clients: 57.6%
• Late client payments: 55.3%
• Maintaining the flow of new business: 50.0%
• Paying competitive salaries (to retain top talent): 39.4%
• Lack of knowledge of company’s financial situation: 36.4%
• Unexpected tax bills: 27.3%
• Managing overheads (e.g. bills, utilities, rent): 26.3%
• Funding marketing efforts: 21.2%
• Finding funding: 21.1%
• Investing in new ideas and better processes: 18.4%

35-44 year old business owners:

• Continuing to remain profitable: 87.5%
• Late client payments: 75.0%
• Maintaining the flow of new business: 72.7%
• Losing existing clients: 62.5%
• Managing overheads (e.g. bills, utilities, rent): 50.0%
• Managing cash flow: 45.5%
• Finding funding: 37.5%
• Lack of knowledge of company’s financial situation: 36.4%
• Unexpected tax bills: 27.3%
• Investing in new ideas and better processes: 25.0%
• Paying competitive salaries (to retain top talent): 18.2%
• Funding marketing efforts: 18.0%

25-34 year old business owners:

• Managing cash flow: 64.2%
• Losing existing clients: 56.6%
• Continuing to remain profitable: 55.8%
• Late client payments: 53.8%
• Maintaining the flow of new business: 46.2%
• Managing overheads (e.g. bills, utilities, rent): 30.8%
• Lack of knowledge of company’s financial situation: 30.4%
• Paying competitive salaries (to retain top talent): 30.2%
• Unexpected tax bills: 22.6%
• Finding funding: 21.2%
• Investing in new ideas and better processes: 21.0%
• Funding marketing efforts: 15.1%

18-24 year old business owners:

• Losing existing clients: 63.6%
• Continuing to remain profitable: 58.8%
• Managing cash flow: 54.5%
• Maintaining the flow of new business: 41.2%
• Lack of knowledge of company’s financial situation: 36.4%
• Late client payments: 35.3%
• Finding funding: 29.4%
• Investing in new ideas and better processes: 29.1%
• Paying competitive salaries (to retain top talent): 27.4%
• Funding marketing efforts: 27.3%
• Managing overheads (e.g. bills, utilities, rent): 23.5%
• Unexpected tax bills: 18.2%

Businesses in England:

• Losing existing clients: 63.3%
• Managing cash flow: 61.7%
• Continuing to remain profitable: 57.1%
• Late client payments: 52.4%
• Maintaining the flow of new business: 47.6%
• Lack of knowledge of company’s financial situation: 31.7%
• Unexpected tax bills: 28.3%
• Managing overheads (e.g. bills, utilities, rent): 27.0%
• Investing in new ideas and better processes: 25.4%
• Paying competitive salaries (to retain top talent): 25.0%
• Finding funding: 20.6%
• Funding marketing efforts: 18.3%

Businesses in Scotland:

• Late client payments: 66.7%
• Continuing to remain profitable: 55.6%
• Managing overheads (e.g. bills, utilities, rent): 55.4%
• Managing cash flow: 50.3%
• Lack of knowledge of company’s financial situation: 50.0%
• Finding funding: 44.4%
• Maintaining the flow of new business: 44.1%
• Losing existing clients: 33.3%
• Paying competitive salaries (to retain top talent): 33.2%
• Funding marketing efforts: 16.7%
• Investing in new ideas and better processes: 11.1%
• Unexpected tax bills: 11.10%

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