Most Atlantic Canadian small business owners feel their
work/home life balance could improve, according to RBC survey
Majority would spend time away from work if they had an
'extra' hour each day
HALIFAX, October 16, 2006 — While 38 per cent
of small business owners in Atlantic Canada feel they are
able to balance their time between work and home very well,
62 per cent feel that there is room for improvement, according
to a new RBC Royal Bank Small Business survey.
The survey, which was conducted by Ipsos Reid also revealed
that if given an 'extra' hour each day, 56 per cent of Atlantic
Canadian small business owners would spend it with their spouse
or family, take time to relax, or get caught up on personal-related
matters. Another 34 per cent say they would spend it on business-related
tasks, including prospecting new customers and developing
business skills.
"Given the time and commitment involved in running a
business, it's easy to see why so many entrepreneurs find
it challenging to achieve their ideal balance between their
personal and work life," said Kris Depencier, national
manager, Small Business, RBC Royal Bank.
The top five pieces of advice small business owners have
for other business people seeking a better work/home life
balance: take time for yourself and your family; set clear
boundaries between work and home; put your family and home
life first; set realistic business goals and benchmarks; efficiently
manage your time at work.
"There are many financial tools and services available
that can help entrepreneurs more efficiently manage their
time at work, no matter what the size, stage and complexity
of the business," added Depencier.
Some other facts about small business owners in Atlantic
Canada:
- On average, they work 34 hours per week on their business.
- 47 per cent say they work more than 5 days per week on
their business.
- Attracting new clients was most often mentioned as their
most neglected business task (28 per cent).
- At 23 per cent, administrative work (including accounting
and bookkeeping) was most often named as their biggest time
drainer.
- Writing 'to-do' lists was mentioned most often (65 per
cent) as a way to save time or run their businesses as efficiently
as possible.
- Family members and friends were most often cited as a
source of advice on time management and productivity issues
(32 per cent).
These are the findings of an Ipsos Reid/RBC Royal Bank poll
conducted between August 4 and August 14, 2006. For the survey,
invitations were sent to a representative sample of Canadian
small business owners 18 years of age or older, resulting
in 2,032 completed online interviews. Of these 2,032 respondents,
158 are from the Atlantic provinces New Brunswick, Nova Scotia,
Prince Edward Island, Newfoundland and Labrador With a sample
of this size, the results are considered accurate to within
±7.8 percentage points, 19 times out of 20.
RBC Royal Bank delivers a wide range of financial services
and practical advice to small and medium-sized businesses
and their owners. RBC is Canada's leading financial institution
for small business, serving one in four small businesses.
For practical advice and information about starting, owning
and managing a small business, visit: www.rbcroyalbank.com/business/resources.
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Media Contact for Local RBC Small Business Experts:
Lori Smith - (902) 483-3317
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