To start a new business is often to follow a passion but the sudden reality can be that passion must take a back seat when the realities of running a business hit home. One of the challenges that occurs is business admin – and what soon follows is the need to reduce admin to remain productive.
According to a report we carried out on business admin and how it affects firms, we found smaller businesses in the UK estimate they spend 71 days undertaking administration tasks. That’s more than 14 working weeks, or around three months.
However, UK businesses might pity their US counterparts who, according to the same report, estimate they spend 266 days per year on admin. In the US, a working year is considered to typically contain 260 days, so somehow those businesses are spending more than an actual working year on admin tasks.
Sage Advice have created a handy visual guide that summarises our findings and shows the administrative tasks that burden small and medium-sized enterprises (SMEs) in the UK.
Source: Sage Advice