Balance a challenge for sole traders 8:42am 22.05.08

Results from the 2008 Understanding Micro Business Survey, conducted by sole trader support network Flying Solo, show that the biggest challenge for sole traders was finding clients/customers, nominated by almost 44 percent of respondents.

However, in second and third position were wearing ‘too many hats’ and not having enough hours in the day to complete work, which reveals that other business owners were too busy.
 
“For people working alone it can be feast or famine. You can be one phone call away from being overbooked one month and forced to drum up more customers the next,” says Flying Solo founder Robert Gerrish.
 
Survey participants were asked to nominate their top three business challenges. Identified were:
 
1. Finding clients/customers
2. Wearing too many hats
3. Not enough hours in the day
4. Getting the business model right
5. Getting paid/cash flow
6. Too many distractions
7. Lack of connection with others
8. Lack of guidance
9. Retaining staff
10. Non supportive family or friends