More than eight in 10 small business owners started up to gain more control over their own destiny, a new reveals.
But the study from T-Mobile shows that while 84% of entrepreneurs set up their business to have more say in their future, many are finding the experience soured by what they see as an overbearing administrative burden.
Over half of owners surveyed said that government red tape and administration is worse than they expected when they were planning to launch their business.
In particular, most bosses said they were not prepared for the amount of paperwork they would be compelled to deal with on a regular basis.
Still, nearly half of owners rated the experience of controlling their own destiny as being better than they had expected.
Those polled said they enjoy the flexibility that having their own business provides, specifically the ability to set their own hours and better manage their work-life balance.
Money is a key motivator for less than a third of the poll’s respondents.
T-Mobile surveyed nearly 500 small businesses for the poll.
