24-05-2007
SMEs miss benefits of larger working environments
Setting up in business may seem exciting and rewarding, but many small business owners admit that it's not necessarily everything they had imagined it to be.
More than a third (37 per cent) of small business owners questioned by Yorkshire Bank revealed that though they had dreamed of becoming their own boss, they actually miss having someone to bounce ideas off when making business decisions.
A similar proportion also complained that big banks are often only interested in larger businesses and do not cater well for small firms.
Yorkshire Bank's head of retail and small business, Gary Lumby, commented: "It's worrying that smaller businesses don't know where they can turn to for business advice and feel that banks don't cater for their needs.
"This is particularly concerning when you consider that our research shows 42 per cent of people set up their own business in a field that is alien to their experience and that just one in four (27 per cent) running their own business have any managerial experience at all," he
added.
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