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The top 30 challenges about starting a business

Maintaining a social life, taking time off for canada goose outlet black friday holidays and dating are among the hardest things about starting your own business, a study found.

canada goose outlet ontario Establishing your business in the marketplace, working weekends and believing in yourself also appeared among the challenges when finally making the decision to ‘go out on your own’. canada goose outlet ontario

canada goose jacket outlet The fear of failing, official canada goose outlet not having as much disposable income, managing finances and being able to drive the recruitment for their business also proved difficult for many of the 500 entrepreneurs polled. canada goose jacket outlet

canada goose uk site The study was commissioned by Virgin Money to celebrate the launch of their SME savings accountto help young businesses thrive. canada goose uk site

canada goose factory outlet vancouver Hugh Chater, Chief Commercial Officer at Virgin Money said: “From start up, to scaling up and then staying ahead, there’s nothing easy about running your own business. canada goose factory outlet vancouver

“Balancing the books, the relentless admin, sorting problems that come out of left field and finding balance in everyday life are just some of the challenges for many SME owners.

“What really shines through from our research however, is that the freedom and fulfilment of running and growing your own business outweighs any trials and tribulations faced.

canada goose outlet uk “Ultimately, hard work delivers its own satisfaction, enjoyment and reward and 98 per cent of people who run their own business said they wouldn’t have it any other way.” canada goose outlet uk

canada goose outlet black friday sale One entrepreneur confessed the hardest thing about flying solo was getting your friends to understand why you couldn’t come out for dinner. canada goose outlet black friday sale

Others explained how they risked canada goose outlet toronto factory it all to give up a well goose outlet canada paid, safe job to venture into canada goose outlet sale the unknown.

canada goose outlet montreal Nearly one fifth of those polled said they worked a minimum of 13 hours every day in their first year of setting up their business, with seven per cent slaving away for 16 hours or more every day. canada goose outlet montreal

canada goose outlet ottawa Researchers also found over half of SME’s funded their businesses themselves, with 46 canada goose outlet online uk per cent sourcing their capital through other means in order to get off the ground. canada goose outlet ottawa

Bank loans, redundancy payments and financial support from family members were the most popular sources for additional funding.

canada goose outlet uk sale The study also found start ups need an average of 16,309 in order to take off, with an average loss of 9,420 in the first year for those in the red. canada goose outlet uk sale

canada goose outlet vancouver However, over half believe canada goose outlet shop that hard work does pay off, with many seeing profits of nearly 7,000 in their first year of launching. canada goose outlet vancouver

It’s no surprise https://www.canadagooseoutletjackets.com canada goose outlet store a number canada goose outlet nyc of business owners are reaping rewards within their first year, with half stating they sought after advice when starting their company.

canada goose victoria parka outlet More than a canada goose factory outlet quarter asked for the expertise from another entrepreneur, with an equal percentage getting insight from the bank or a friend. canada goose victoria parka outlet

canada goose outlet mississauga And three in 10 wished canada goose outlet parka they always had someone on hand company website to go to for financial advice when launching their enterprise. canada goose outlet mississauga

canada goose outlet authentic Despite the majority agreeing that starting a business is no easy feat; ninety eight per cent agreed they enjoy having their own business. canada goose outlet authentic

canada goose outlet canada In fact, more than eight in 10 said being your own canada goose outlet uk sale boss is one of the best things about launching your own company, canada goose outlet online with 58 per cent stating it is more rewarding. canada goose outlet canada

Being in control of your canada goose jacket outlet career, expanding your network and building your character also featured as benefits of starting from scratch.

Hugh Chater added: “While it can be difficult setting canada goose outlet canada up your own business, it’s great to see the enjoyment and rewards that can come to canada goose outlet jackets those who are successful.

canada goose outlet michigan “With many SME owners not having time to shop around for the best deals for their finances, Virgin Money is committed to supporting small businesses earn an attractive return on their savings.” canada goose outlet michigan.

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