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Time increasingly scarce for SME leaders

Wednesday, August 27 15:46:19

Some 42pc of Irish business owners feel they do not have enough time in their working day to do all they need, according to research commissioned by business software provider Sage Ireland.

Administration is seen as the greatest time-waster in the working day (27pc) while 25pc admit that non-work related activities such as browsing social media, online shopping and emailing friends waste the most time.

When it comes to generating new business, 57pc say they are not spending enough time on growing their business. 60pc of the business leaders surveyed say that their most productive time of the day is first thing in the morning, proving the theory that the most successful people are early risers. The afternoon slump is not an issue for 13pc of respondents who believe that this is when they are at their optimal. Proving that productivity decreases as the day progresses, only 4pc admit to being night owls.

The survey was conducted to mark the launch of the next generation Sage 50 Accounts, which Sage say will transform the way small businesses and accountants work together to manage their accounting needs.

Given 50 extra minutes each day, the majority of respondents (39pc) would opt to spend more time with their family, while 20pc would spend the additional time exercising. Only one in five (20pc) would choose to spend it growing their business, reflecting their desire for a better work/life balance.

Avril McArdle, Head of Marketing, Sage Ireland said: "Our research shows just how important time is for SMEs, and the need to use it as effectively as possible in order to optimise success. Particularly in smaller businesses, owners or managers can find themselves consumed by administrative tasks which can limit the time to concentrate on growing the business and increasing customers. As a business partner, we want to provide the right products that will help business overcome these challenges and our new Sage 50 Accounts was redesigned to do just that."

"The new Sage 50 Accounts combines desktop, mobile, and online functionality, offering the deepest and broadest hybrid accounting capabilities on the market for small and medium sized businesses. This element of Sage 50 Accounts gives users the benefits of using the cloud through the new Sage Drive module as well as two mobile business management apps. Sage Drive is a brand new service that makes Sage 50 Accounts data available securely in the cloud, so businesses can access and share their core data rapidly and securely within the business, and with accountants and other partners whenever and wherever they want," she said.

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