RESOURCE CENTRE

Your EnterQuest Bulletin - Issue 376

Thought for the week: "Anything I've ever done that ultimately was worthwhile initially scared me to death." Betty Bender

• Small business owners are not very green or charitable
• Two new business ideas
• Top tips on effective influencing skills
• How to launch a successful blog
• IT tips for small businesses
• Free e-commerce software
• Cabbage Patch - daft news

Small business owners are not very green or charitable, but they enjoy meeting people

The life and attitudes of small business owners are something that policymakers, support agencies and other business owners are understandably obsessed with, bearing in mind we are collectively the lifeblood of the UK's economy.

EnterQuest's most recent survey looked into small business owners' attitudes and opinions about using business plans both at start up and at other key times in the business life cycle.

The survey also sought our readers' opinions about their management style, how they measure success, and what excites and frustrates them the most about running a small firm in the UK.

The headline results from the survey were as follows:

• 80% of business owners had a business plan at start up but only 56% had it written down formally.

• Making a profit was the number one measure of business success - managing carbon footprint was the least important (only 6% of respondents quoted this as very important to them).

• 76% said independence and flexibility were the most satisfying factors about running a business, with being green and ethical at only 12%.

• 78% said late paying customers was the most frustrating aspect of running a business followed by Government support at 57%.

Here is a summary of survey responses for each question asked.

Using business plans

When asked about whether a business plan was used to help start their business, responses were as follows:

• Used a formal written plan - 46%

• Used a formal written plan purely to raise finance - 10%

• Had an informal, unwritten plan - 26%

• No plan used, just 'went for it' - 17%

Management style

When asked to describe their management style, responses were as follows:

• Formal and strategic - 15%

• Fairly disciplined but only when needed - 52%

• Informal, laid back and reactionary - 25%

• Manage by seat of my pants - 3%

Measuring success

When asked what most accurately reflected the way they measure success in their business at the moment, responses were as follows:

Reported as very important

• Making a profit - 71%

• Paying the bills and balancing the books - 66%

• Healthy order book - 54%

• Enough time for myself or family - 47%

• Growing the business - 47%

• Hitting sales targets - 37%

• Employing people - 10%

• Managing my carbon footprint - 6%

The main motivators

When asked the question about what motivates them the most about running a business, the survey responses were as follows:

Reported as very motivating

• Independence and flexibility - 77%

• The people you get to meet - 53%

• Making money - 47%

• The diversity of each day - 45%

• The unknown/the adventure - 27%

• Being charitable and socially responsible - 17%

• Being green and ethical - 13%

Frustration factors

When asked what frustrates them most about running a business, survey responses were as follows:

Reported as being a frustration

• Late paying customers - 78%

• Not enough time in the day - 68%

• Support from Government - 57%

• Isolation - 38%

• Support from the bank - 37%

• Your own ability - 28%

• Dealing with employees - 26%

Discussion points

It is encouraging to note that small business owners in our survey are good planners, whether that's in a formal or informal way.

Effective business plans do not have to be written down, and our survey confirms this - it's as much about business owners knowing what needs to be done and by when, and being in control of the business rather than the other way around.

Managing a business in a formal, rigid way is not for most of us, and more than three-quarters of respondents describe their management style as being laid back and only disciplined when they needed to be.

The most striking results, however, were attitudes towards social responsibility and green business issues - or more accurately a disregard for them. Only 6% of respondents think that managing their carbon footprint is important compared to over 70% for making a profit.

And for personal motivation, respondents highlighted that independence and meeting people are business owners' main satisfaction factors, while only one in six are motivated by being socially responsible, and one in eight by being green.

Something to think about for the policymakers.

The survey was carried out online in May/June 2010. Respondents were readers of our EnterQuest newsletter and Better Business magazine.

Nearly half - 45% - of respondents were self-employed or freelance, 37% were business owners with 1-9 staff, 9% employed 10+ staff and 7% were not yet trading. Almost 60% had been trading for more than three years.

To comment on this article you can click here to have your say.

You can view comments made by EnterQuest readers on last week's article Your idea's stupid, you're an idiot and you'll fail.

Each week we provide you with summaries of some popular or emerging business ideas in the UK and elsewhere around the world.

• Green Garage is a 'green' mobile car servicing business that services cars using energy-efficient parts and service techniques. This includes using nitrogen to pump up tyres, fitting dual-stage oil filters, and using lead-free wheel weights.

• Elevyn is a platform that allows marginalised and indigenous communities to sell handmade goods and get at least 75% of the selling price back. The remaining 25% is used to fund the Elevyn site and specific causes nominated by the seller communities.

Top tips on effective influencing skills

This article stresses the importance of knowing your objectives before entering into a pitch to supply a product or service, and gives tips on using the right sort of language to get the result you want.

How to launch a successful blog

If you're considering writing a blog for your business, this article will help you to understand how to gain readers, keep content fresh and achieve good search engine ranking results.

IT tips for small businesses

These 12 tips are aimed at helping small firms improve profitability and productivity with simple IT and web strategies. Top tips include using cloud-based services to reduce costs and auditing any providers of outsourced tasks.

Free e-commerce software

CubeCart is an e-commerce software product that features customer order history, multi-currency support, e-mail marketing and printable order invoices. There are free and paid-for versions available.

Here's our weekly look at some unusual, daft and often ridiculous business ideas, products and news.

• No kid-ding, this Northumberland café uses its roof to feed goats.

• Christmas is just around the corner - well, it's in Selfridges' basement.

• How not to sell big door knockers.

Win Acronis Backup & Recovery 10

EnterQuest has teamed up with backup solutions provider Acronis to offer one reader the chance to win a copy of Acronis Backup & Recovery 10.

Acronis Backup & Recovery 10 is a family of products for data backup, system recovery and reduplication.

To be in with a chance of winning this great prize, just answer the following question:

Which department store launched its Christmas shop this week?

a) Selfridges
b) Fenwick of Bond Street

E-mail your answer, together with your name, address and daytime phone number, using 'Acronis competition' in the subject line, to enterquest@cobwebinfo.com.

All entries must be received by 30 September. Full competition rules are available on request.

To promote your products or services in EnterQuest Classifieds,
call us on (0191) 461 8000 or e-mail enterquest@cobwebinfo.com.

Also from EnterQuest's publisher EnterQuest readers can receive a free copy of our sister publication, Better Business magazine. Simply send us an e-mail with your name and address with 'EQ magazine offer' in the subject box to enterquest@cobwebinfo.com. The UK Small Business Marketing Bible contains hundreds of tips and tactics for boosting your sales using proven marketing strategies that work no matter what product or service you sell.

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Good luck

The EnterQuest Team

This information is meant as a starting point only. Whilst all reasonable efforts have been made, the publisher makes no warranties that the information is accurate and up-to-date and will not be responsible for any errors or omissions in the information nor any consequences of any errors or omissions. Professional advice should be sought where appropriate.