MANCHESTER, England, September 3, 2018 /PRNewswire/ --
- 56% of SMEs say they have productivity issues.
- 58% of SMEs find that staff management and HR processes are hindering their work output.
- 36% of SMEs find that their output is being affected by chasing invoices and outstanding payments.
- 27% of SMEs find that slow broadband and outdated technology are reducing their efficiency.
- 19% of SMEs find that managing social media accounts and marketing their business is time-consuming.
SMEs or small businesses are the backbone of the UK economy. They employ nearly two-thirds of all people in the UK and account for over 99% of all private sector businesses.
But are small businesses struggling with productivity? A survey conducted by HR, employment law, and health & safety specialists, Peninsula, has found that 56% of small businesses are finding it difficult to reach their productive potential. So what do SMEs think are the main causes?
An alarming 58% of small businesses account their low productivity to the amount of time they spend on staff management and HR processes, such as writing employment contracts and policies. Many small businesses don't have an in-house HR professional to provide expert guidance, so business owners are attempting to do people management tasks ad hoc. And that can cost them precious time and resources.
Another major factor hampering the output of small businesses is the time they spend chasing invoices and outstanding payments, with a staggering 36% of small businesses listing this as a huge productivity problem.
Technology is important in speeding up everyday tasks, so it's no surprise that 27% of small businesses find that slow broadband and outdated technology are adding to their time and resources constraints.
Peter Done, Group Managing Director and Founder of Peninsula, said: "SMEs are the lifeblood of the UK economy, so it's imperative that they work in the most efficient and productive way possible.
"I want to celebrate their entrepreneurial spirit and their contribution to the UK economy, by helping them crack their productivity problem. To do this we are launching Peninsula's first Small Business Month this September. During this month, we will be gifting small businesses with an employer guidance pack which includes contracts and policies, access to our advice line where business owners can get instant answers to any staff management questions, as well as 10% off Peninsula's services during the month of September.
"Access to these employer essentials should free businesses from staff management stresses and give them more time to concentrate on what they do best, growing their business. When small business productivity is made a priority, the entire UK benefits."
Peninsula is one of the UK's premier companies, started in 1983 by Salfordian Peter Done with headquarters on the fringes of Manchester city centre. The company offers HR, employment law and health & safety support services to small and fast-growing businesses across the country, as well as tax and payroll advice, employee assistance programmes, and HR and health & safety training. Since its beginnings in Salford, Peninsula has now expanded into the furthest corners of the globe, operating in Ireland, Australia, New Zealand and Canada.
For further details please contact Jane Pearson on Jane.Pearson@peninsula-uk.com or +44-0161-827-8511