Help from family and friends vital to business success » SMEInsider

Help from family and friends vital to business success

According to new research by Vistaprint, most micro-business owners in the UK get help from their family and friends during the start-up phase, saving them over a thousand pounds in wages.

30% of British micro-businesses receive free assistance from at least two family members, while 41% have three or more pairs of helping hands. Spouses and partners are most likely to be roped in. On average, these helpers work four and a half hours a week and work most commonly across accounts, office admin, or ‘receptionist’ duty.

20% of respondents went as far as saying their business would not have got off the ground without the help of family and friends.

Richard Moody, Vistaprint UK marketing director said: “The vast majority of micro business owners are sole proprietors, and it is clear that the support and free labour devoted to them have benefited them both financially and on an emotional level.

“A thousand pounds may not seem like a lot, but in the early stages of a business every saving is vital. From our study we have found that the average investment made into start up micro businesses is £15,951, highlighting how much the additional free assistance can help when saving money. And of course the feeling of being supported in your efforts by those close to you is absolutely priceless.”