Small business chiefs ‘losing enthusiasm’

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A THIRD of the bosses of Britain’s small and medium-sized firms have lost the enthusiasm for running their own business and one in four is considering going to work for someone else.

Researchers for the world’s sixth largest insurance group, Aviva, also found half of SME owners felt it was too tough to own a business in the current climate.

According to Aviva’s SME Pulse report, one of the factors contributing to the loss of enthusiasm could be a reduction in the money SME owners are taking out of their own businesses for personal use.

Aviva’s commercial product manager, David Bruce, said: “The mood continues to be down-beat about the economy as 2012 begins. Businesses are struggling against a backdrop of consumers spending cuts and many don’t envisage an improvement to the situation in the next six months.

“Half of the SMEs we surveyed said they had not asked for funds from their bank with the same number telling us they had reduced the money they took from their business, suggesting businesses may be ‘self-funding’ their activities.”