Significant numbers of small and medium-sized business leaders feel “overwhelmed” by their roles and “like they should know more than they do”, according to new research.
The survey* by the Small Business Charter of 1,200 senior business people in SMEs across the UK found anxiety about some aspects of the burden of running and growing their companies.
A fifth (20%) say they feel overwhelmed by everything that’s required of them, with this rising to over a third (35%) among leaders aged 18 to 24.
Meanwhile, a quarter (24%) nationally say they feel like they should know more than they do, with those aged 35 to 44 most likely to admit this (27%).
Nationally, almost one in five (18%) also say they feel burdened by the responsibility to protect their employees’ jobs.
According to the Department for Business & Trade, there are 5.6 million small- and medium-sized businesses in Britain**, suggesting there are hundreds of thousands of leaders across the UK feeling overwhelmed and lacking in knowledge and know-how.
Nevertheless, despite their anxieties, most UK business leaders still feel confident in the broad day-to-day running of their business or department (96%). When pressed on what would make them feel even more confident, a third (33%) say access to leadership training and 40% want a larger network of peers to turn to.
The Small Business Charter delivers Help to Grow: Management, a 90% government-funded course designed to support business leaders to increase resilience, innovation and growth within their organisations. Spread across 12 weeks, the course includes 10 hours of one-to-one business mentoring and a peer network. It is designed to be completed alongside existing work commitments.
Flora Hamilton, executive director of the Small Business Charter, said: “Our survey of business leaders shows that even though they generally feel comfortable on a day-to-day basis, significant numbers have underlying anxieties. Running a company or department can be a heavy burden and at times many feel overwhelmed and insecure about having the business knowledge they need to do their jobs well and grow their companies.
“With its practical SME focus, the Help to Grow: Management Course helps small business leaders and senior managers develop the business knowledge and skills they need to succeed. Delivered by our network of expert business schools, it provides a fundamental understanding of core business topics from strategy to marketing and employee engagement but also the support of a local peer network that many small business leaders see as crucial to helping them tackle challenges and feel more confident.”
Martin Gate, business analytics manager at Preston-based UK Carline, who has completed the Help to Grow: Management Course, added: “As part of a small senior management team in a well-established and growing business, I often found myself caught up in the daily demands rather than focusing on long-term growth. The Help to Grow: Management Course provided me with the tools and fresh perspective I needed to prioritise strategic development. The course has not only enhanced my leadership skills but also reshaped my approach to business growth and how with the right tools and mindset, you can achieve what you at first thought was impossible.
“The support from both the University of Central Lancashire team and my peers on the course made a huge difference, reminding me that I’m not alone in these challenges.
Since completing the programme, I've empowered the whole team to be more effective, allowing me to focus on driving our business forward."
"This shift in focus has been transformative, this year, we've achieved more than ever before, marking our best year in over two decades.”
*Censuswide, on behalf of Small Business Charter, surveyed 1,200 decision makers (defined as CEOs, owner managers, CFOs and FDs or people with departmental responsibility) from companies with 5-249 employees in August 2024.
**Source: Department for Business & Trade
About Help to Grow: Management:
Help to Grow: Management is a 12-week course designed to support business leaders and their senior managers to increase resilience, innovation, and growth within their organisations.
Delivered by the network of Small Business Charter accredited business schools, the course is available in more than 60 locations across the UK and is 90% government-funded. It is designed to fit around existing work and personal commitments, providing business leaders with more than 50 hours of online and in-person training including 10 hours of one-to-one mentoring. Individuals completing the course automatically join the Alumni Network, where they have access to exclusive events, content and partner offers, as well as the support of a UK-wide peer network.
The Small Business Charter (SBC) empowers small business success through its network of expert business schools. Developed 10 years ago by Lord Young, the previous Department for Business, and the Chartered Association of Business Schools, the SBC was established to signpost entrepreneurs, small businesses, and local economic stakeholders to business schools in their region with the expertise to help them thrive. There are 67 SBC-accredited business school centres of excellence across the UK which are trusted partners of local stakeholders and the national government to deliver effective leadership and productivity programmes and small business support to drive economic growth.