In a new survey from Bibby Financial Services, small business owners revealed their friends and family are their most trusted sources of business advice, but they are more likely to look to the internet for guidance.
When asked which sources of business advice they trust most, 23% of small business owners said friends and family, ahead of financial advisers (18%), the internet (14%), accountants (14%) and solicitors (9%).
However, 24% of small business owners admitted they seek advice on the internet more often than their trusted friends and family members. Business owners are most likely to seek advice on tax payments (24%), sales and marketing (14%) and funding (14%).
David Postings, chief executive for Bibby Financial Services, said: “Undoubtedly friends and family are always on hand to lend an ear, and the internet can be a quick way to get some general advice, but we would encourage business owners to plan time to speak to their funding partners and professional advisers when big decisions are being made.”