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Instead, they tend to place greater focus on operational matters of their companies.Here are the 4 most worrying issues small business owners face, in order of importance:CrimeArthur Goldstuck, principal researcher of the survey and MD of World Wide Worx says 27% of respondents cited crime as the most worrying factor.
says Melt Van der Spuy, a director of business banking at Standard Bank, one of the largest banks in the country.DebtorsThe issue of debtors, which is related to cash-flow, came next with 13% of respondents rating it as important.CompetitionCompetition was a lowly fourth-ranked, with only 12% of respondents deeply worried about what their rivals were up to.
"When competition keeps you awake, you're concerned about market share.
This doesn't seem to be a focus for South African entrepreneurs, and tends to be a bigger factor in the corporate environment," he says.Where SMEs look for helpThe survey also looked at places SMEs were most likely to go for help to deal with their most pressing concerns.
The research found that:Accountants were the most favoured - The research found that 72% of the respondents turn to an accountant.The bank - 59% of respondents say they look to the bank for help.Legal advisors - Legal advisors were the third favoured providers of assistance and advice, with 53% saying of SMEs relying on legal advisors.Consultants - About 33% of respondents said they rely on consultants to provide the help they need.Mentors and Coaches- The survey found that only a small number of respondents (9%) use a mentor or coaching.
However, 50% of those using these services regard themselves as highly competitive as compared to those who don't use mentors and coaching.Why SMEs have some resistance to mentors Van der Spuy says the accountant is a good choice for independent business advice.
