NEW YORK (MainStreet) You're the boss. You come and go as you please, right? Leave the heavy lifting to the worker bees your job is to focus on the big picture. Well, yes and no. Almost all of small business owners (96%) say that the best part of owning their own business is the flexibility and control. But most work long hours, and and there's one task they really hate.
Nearly half (44%) of entrepreneurs say that flexibility and control is the reason they started a business, according to a new TD Bank survey of more than 500 U.S. small business owners.
Being the captain of your own ship has other perks, too. Small business owners love what they do -- the greatest number (68%) enjoy talking with clients and customers. Four in ten really like fulfilling product orders or providing their services. A quarter said they love sales and setting appointments. Male owners like sales more than female owners (30% vs. 20%), according to the poll.But there is one duty that really stinks, according to small business owners: nearly half (46%) hate bookkeeping. Equally distasteful to nearly a quarter of respondents (22% each) were marketing and banking.
Small business owners must love what they do because they are certainly putting in the hours. Nearly half of those surveyed reported working more than 40 hours per week -- four in ten said they grind out between 40 and 60 hours a week.
The businesses surveyed reported $5 million or less in revenue with a workforce of 100 employees or fewer. Though being a smaller enterprise still carries its weight. One in five owners says money and finances are a prime concern, while a quarter are worried about business management. Nearly as many (23%) are grappling with growth. Most (41%) turn to industry associations or other networking groups for business advice while some lean on friends and family (35%).