Rob Alder

Small Business Owners Initially Struggle With Knowledge But Not Confidence

Small Business Owners Initially Struggle With Knowledge But Not Confidence

While many UK small enterprise owners initially struggled with business knowledge, confidence was never a problem – according to a report by the Association of Accounting Technicians (AAT). The survey, polling 501 small and medium-sized business owners (those with fewer than 250 employees), asked entrepreneurs what they wished they’d known when starting their business and 19% said they wished they had spent more time marketing, 11% on finance, 8% on IT, and 5% on PR and social media. 65% of respondents struggled with at least one business area when they started out and, when asked to pinpoint which specific area, 20% of respondents cited a lack of financial knowledge as their biggest initial struggle, compared to marketing (12%) and legal know-how (11%). While this lack of expertise ... »