Ipsos Reid/RBC Royal Bank conducted a poll between August 4 and August 14, 2006 across Canada regarding how work-life balance issues are impacting small business owners. The findings were released today in a series of press releases.
Below are several excerpts from these releases:
“The findings in this year’s survey shed light on the day-to-day challenges small business owners face in trying to manage their business, plan for growth, and maintain an acceptable level of work/home life balance,” notes Kristina Depencier, national manager, Small Business for RBC Royal Bank. “Many small business owners are looking for ways to better manage their day-to-day workload, to give them more time to focus on other priorities, both at work and in their personal lives.”
When asked how well they felt they are balancing work and home life, for example, 61 per cent indicated that there was room for improvement, with only 39 per cent stating that they felt they were balancing work and home “very well”. The top five pieces of advice small business owners have for other businesspeople 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; efficiently manage your time.
“Regardless of the stage their business is at, or the long-term plans they have in mind, small business owners struggle with time management,” added Ms. Depencier. “It’s not that small business owners want to be able to work more hours in any given day – they’re looking for suggestions to help them use the hours they already have in a better way.”
In fact, the RBC survey found that if more efficient time management freed up even one ‘extra’ hour a day for small business owners, 58 per cent of Canadian small business owners would most likely spend that hour as “personal time” – with their spouse or family (32 per cent), for relaxation or “down time” (16 per cent), or catching up on personal-related matters (10 per cent).
In BC small business owners noted the following:
If given an ‘extra’ hour each day, 57 per cent of British Columbian small business owners would spend it with their spouse or family, take time to relax, or to get caught up on personal-related matters. Another 28 per cent say they would use it for 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 Jim Payn, sales manager, Small Business, RBC Royal Bank.
In the Maritimes the following findings were found:
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.