Contractors may benefit from new research, which has revealed that small businesses are currently relying on their spouses and partners to help in the running of their company.
The report, which was carried out by Direct Line for Business, found that 51 per cent of small business owners rely heavily on other people to deliver results.
In fact, the research has shown that 48 per cent of partners take responsibility for general business administration, with 46 per cent of small-business owners and key decision makers rely on help from close associates.
Fourteen per cent of partners are taking on the responsibility of company legal and accounting services, and two per cent are pushed into helping with the IT and technology side of the business.
According to the survey, there are many partners and spouses that are being forced into helping out in areas that that may not be particularly confident in, which could result in small businesses having to turn to freelancers to help out instead.
The head of Direct Line for Business, Jazz Gakhal said, “Small businesses are crucial in re-energising the UK economy. It is therefore, heartening to see partners working together to help sustain these small companies despite not being fully financially compensated and in many cases not paid at all.
“It is clear that small trade businesses are seeking voluntary help from their partners to avoid high legal, secretarial or IT support fees but it is vital that these businesses ensure their partners are adequately covered in event of an accident.”
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SJD Accountancy – who has written 388 posts on SJD Accountancy Blog.
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