business focus
Surprising results in survey of business owners
Chartered accountants Haines Watts has published the results of its recent survey looking into the reasons that business owners run their own company and their motivation and aspirations
Entitled ‘For Love or Money? The secret life of the business owner’, the survey focuses on three areas: wealth, investments and spending habits; ongoing motivations for running a business; and, advice to your younger self about running a business.
The results were gained from interviews with over 500 UK business owners nationwide and from across a wide range of industries. Their companies were at least two years old, with a turnover of between £1 million to £50m and with 10 to 249 employees.
Adrian Williams, managing partner at the Reading office, said: “Haines Watts advises owner managers every day on all aspects of their finances and aspirations, so is in a great position to survey their opinions, needs and challenges. We believe the results will make interesting and compelling reading for anyone concerned
with business and will create a ‘call to action’ for many.”
In the next issue of The Business Magazine we will run the first of a two-part series, highlighting our survey findings from business owners in the South East. It focuses on their wealth, investments and spending habits and there are some surprising conclusions.
For example, the survey found that owners are drawing modest salaries and eschewing lavish lifestyles in favour of investing heavily in their business, hoping it will provide for them and their families in retirement. However, they are not always putting into place suitable plans to ensure this happens.
Williams added: “It’s easy to believe that your company is a safe investment. But if I held up a mirror, I don’t think many owners would be comfortable with what
they saw. They would wish they had a contingency plan in place and spent more time considering their options.”
More next issue.
For further information about the Haines Watts Group and local offices visit the website.
www.hwca.com
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THE BUSINESS MAGAZINE – THAMES VALLEY – OCTOBER 2016
businessmag.co.uk
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