Starting a part-time small business is ideal if you want the security of employment whilst investing in a side business. Starting a business can come with great risks, and one of the main reasons that potential entrepreneurs are held back is for fear of their business failing. However with a combination of business skills and the right product, you can make your business a success. When running a part-time small business you also don’t have the life changing risk of failing hanging over your head, as you still have a steady income through your day job.
In a recent study conducted by FreeAgent, looking at the work habits of micro business owners and freelancers, it was found that they are creating a new phenomenon called workation. A workation is essentially working whilst being on holiday. This is not the ideal situation, checking work emails and doing admin whilst on holiday. The self-employed are workaholics and seriously need to find the balance between work and life. Holidays are a time to get away, switch off and rejuvenate, constantly working achieves the opposite of that.
In a recent study conducted by Advanced, it was found that small business owners are on the brink of a burnout due to their heavy workload. SME leaders and managers are close to hitting the boiling point because of the stress and pressure that comes from running a small business. These are issues that can be controlled and maintained. Small businesses are the backbone of the UK economy, and without healthy small business owners to run them, the UK economy could be in trouble.
BURNOUT. It’s the seven letter word that every employer dreads encountering. As businesses push to meet productivity needs and illicit the best results, employees can become overwhelmed, overtasked and burned out, sometimes without even realising it. Employers then become unwitting participants in the detection of subtle cues that suggest a need for change. Often burnout presents in seemingly disconnected ways. Small gestures that may, on the surface, look like behavioural or emotional anomalies, are sometimes indicators of a burnout silently brewing into an all-out raging inferno.