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Poor time management is damaging British business

Poor time management is the biggest growing threat to British business, according to new research. Studies commissioned by online printing company Instantprint have revealed that those that don’t optimise their time find themselves facing a major growth barrier.

One in 10 workers find themselves with less than an hour a week dedicated to focussing on business growth, while 8% don’t find any time at all. A third polled didn’t believe they had enough time in the working week to both work on business expansion and effectively running the business, but typically most business owners managed to find around 12 hours a week to pursue activities dedicated to growing the firm. Instantprint are concerned that too many in smaller businesses are having to choose between successfully progressing their company and working on longer-term plans.

“We all know how it feels to fight the clock. There are only so many hours in the day to get everything done and SMEs are feeling the squeeze,” said Instantprint co-founder James Kinsella. “It is interesting to see from the research that, while factors such as admin and staff management have an impact on productivity, it is the management of our hours, minutes and seconds that have the biggest effect on the running of a successful enterprise.”

Poor time management recognised by business owners

A quarter of business owners believe they could improve the efficiency of their SME by hiring more staff, while 1 in 10 want to automate the invoicing process to cut down on financial management. 35% try to prioritise existing customer wellbeing to encourage retention and brand loyalty, while around one in four prefer to seek out new customers.

“An SME is a composite of complex moving parts and systems, and sometimes it can be difficult to make sense of it all,” continued Kinsella. “Every business is unique, but improving time management and optimising working hours can only bring positive outcomes to the UK’s SMEs.”

Do you manage your time effectively, or do you find yourself daydreaming? Does your company suffer because of worker brain fade? Let us know on Twitter, Facebook or LinkedIn.