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Does it have to be lonely at the top?

By Lily Hale Tuesday, July 9, 2019

Does it have to be lonely at the top?

Ask any small business owner and I’m sure they will tell you that managing the business often means long hours and times of stress. For all the rewards and satisfaction of watching the business grow, there are bound to be moments when it all feels like hard going.

Despite knowing this, I was personally surprised to find out that nearly three-quarters (73%) of SMEs are experiencing feelings of loneliness in the UK. This worrying stat, from our recent research into SME wellbeing, is definitely a cause for concern.

We at Ultimate Finance really want to help the business community do something about this. Because our research also showed that 75% of SMEs also don’t know where to turn when things get tough at the top. Quite simply, running a small business can be a lonely thing.

As an owner, you may have a small management team and some great employees, but ultimately the responsibility for everything stops with you.

This can be overwhelming and support for SMEs is paramount. And yet, almost two-thirds (60%) of the SME owners we surveyed said that there is not enough support SMEs.

This was echoed by James Shillcock, owner of the highly successful Vivid Drinks company, who said that there should be more support available – and also made the highly relevant point that when a business owner is not performing at their best, this can have a knock-on effect on employees.

In one sense then, this is a productivity issue which is a key concern on a national, economic scale. But more than anything, it is a human issue.

It’s about the wellbeing of people as individuals and providing a forum for discussion and support. That’s why we've created our own information hub with guidance from health experts and insights from experienced SME owners to support those in need of help.

Maybe it will always be lonely at the top to a degree. But, SMEs are a hugely valuable part of our society and not just for the jobs they create and the taxes they pay. Many also drive innovation that benefits us all and do great work in their local area.

As members, of the business community ourselves, we think it’s our duty to spread the word about SME wellbeing and help find a solution.

Visit our Health Hub here: https://www.ultimatefinance.co.uk/business-wellbeing/