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Entrepreneurs turn to spouses for business advice

Business owners are more likely to turn to their spouse over a bank manager or accountant.

Business owners are more likely to turn to their spouse over a bank manager or accountant.

Unsurprisingly, a recent report has revealed that small business owners are more likely to turn to their spouses for business advice over their accountants or bank managers.

The study, carried out by T-Mobile, suggested that, of the 2,000 small business owners surveyed, over 50% preferred to speak to their partner, compared to the 22% that wouldturn to an accountant, 3% that would turn to trade bodies, and a miniscule 2% who would turn to their bank manager.

The Director of SME Marketing for T-Mobile, Martin Lyne, commented:

“80% of the small businesses we polled stated they take advice from people who will give them the truth and will tell it to them straight. As a supplier, we need to take a straight talking approach, offering small business owners uncomplicated products and services that simply help them get on with what they do best. The last thing we want to do is waste their time.”

Curiously enough the study also suggested that the greatest trend lay in the North of England, with 58% of small businesses owners in Liverpool and Newcastle turning to wivesand husbands over accountants.

Even more amusingly, Londoners were the least trusting ofbank managers, with a fractional 1% turning to them for any kind of guidance.

Experts in the industry have said that this highlights “how highly we value those who get to the point and give it to us straight when discussing business issues.”

An interesting result all around, but hardly a surprising one. One would have to questionthe kind of advice many bankers and accountants are giving. Unfortunately, with the economy the way it is the advice from financial advisors is likely to be limited.

From a personal point of view I would certainly be more inclined to turn to my wife over my bank manager any day of the week. I am fortunate that she has a good business head on her shoulders – I just hope other entrepreneurs and small business owners can say the same thing!

For those of us not so lucky, why not check out some of these other excellent website for help and advice:

http://www.businesslink.gov.uk

http://www.ukbusinessforums.co.uk/forums/

http://www.britishchambers.org.uk/

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Discussion

6 thoughts on “Entrepreneurs turn to spouses for business advice

  1. I do this all the time. If I’m stuck with something, I’ll ask my husband for his opinion and/or his suggestions. Sometimes turning to someone who isn’t as close to the project or issue gives a fresh perspective or an angle that hasn’t been considered.

    Posted by Bobbi | December 16, 2010, 9:34 pm

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