New research in Australia has found a lack of work-life balance is proving a major issue for half of small to medium business owners.
With 88% of respondents experiencing significant challenges in running their business, and 49% citing balance being a key problem between work and home.
And the research of more than 1,000 Australian small to medium businesses found that, whilst 55% of Gen-Y respondents found the balance difficult, 44% of the baby boomer generation were battling to manage both:
- One quarter of respondents listed completing tax forms correctly to avoid fines as a key concern
- 24% were worried about keeping on top of debtors and creditors
- Lack of flexibility to work at a pace and style that suits them was concerning for 10% of respondents, perhaps due to the 'wearing of many hats'
- Approximately 75% wanted the ability to access work files out of the office
Researchers at Intuit Australia who conducted the survey suggested that the struggle of Gen-Y business owners to achieve a healthy work-life balance could be due to their level of engagement with the internet.
With customer engagement being 24-7, there is constant pressure to stay plugged in and connected to business partners, vendors and customers in order to stay on top of an increasingly competitive landscape. Read more…