|Photo by Aaron Jacobs|
A report released today revealed that small businesses in the UK are losing sleep, but not losing hope. The Hiscox report shows that 47% of UK small and medium sized enterprises (SMEs) are optimistic for their year ahead for their business, despite it being a tough year for the country’s economy.
Although 31% of respondents reported sleep problems due to increased worry, it seems they remain positive about the future of their businesses. This is an improvement from last year’s results, when only 40% of respondents said they were optimistic.
If you think you’re losing sleep, spare a thought for small business owners in Germany, who work an extra 8.6 hours per week on average (47.1 hours compared to the UK’s 38.5 hours).
The SMEs also shared their secrets for promoting their businesses. When asked to choose their top three, 44% of respondents said one of the best tools for promotion is a company’s website, followed by advertising (41%). Good old word of mouth marketing came out on top with 80% of the vote.