It wasn’t actually a surprise to read an article suggesting that businesses might need more support to make critical decisions about how they go forward. At Cornerstone we ensure that our volunteer mentors work with new small businesses in Somerset to ensure they get the support they need, particularly in the early months. We can also offer longer term support and a friendly ear to turn to when a big decision needs to be made.
The article quotes the result of a survey by AXA PPP healthcare showing that more than 60% of small business owners have to make tough decisions on their own. Nearly 10% of small businesses say they have no one to go to for advice, with 19% relying only on directors or business partners. Just 16% are part of a networking organisation and for more than 20% it is family who provide a supportive ear.
The AXA PPP survey also found the following:
16% of small business owners would really like more help with business planning,
42% would like more support for day to day running of their business,
42% need more help with accessing finance.
Major business pressures include cash flow, and meeting regulations.
You can find more about the survey at: