The Business Exchange Swindon & Wiltshire Edition 28: Dec/Jan 2016/17 | Page 33

BUSINESS OWNERS ARE NOT SPLASHING
THEIR CASH ACCORDING TO NEW RESEARCH
Company owners across Swindon and Wiltshire are not enjoying the
fruits of their labours because they are too often chained to their desks.
Research carried out by national
accountants Haines Watts – titled
For Love or Money? – has found UK
company owners with businesses
turning over more than £1milliion
are drawing relatively modest
earnings. They are not in reality
splashing the cash on sports cars or
luxurious holidays.
Mike Lloyd, managing partner at Haines
Watts in Swindon’s Old Town, said:
“So many business owners struggle to
find time to step away from their desks
and reap the rewards of their hard work.
The biggest reason for this ‘work hard, play
never’ situation is that work keeps coming
back onto their desk that should have been
taken care of by senior team members.”
A contributing factor is that many
business owners and leaders do not take

the time to find the right people to work
around them and take away that daily
pressure.
Mike said: “It can only work well if
the right people are in these senior roles,
job descriptions have been successfully
communicated and understood and there’s
an effective appraisal process to encourage
star performers and give support to
those who need it. Everyone has to be
responsible and accountable to ensure
things don’t constantly land back on the
boss’s desk.”
The findings are part of broad research
by Haines Watts into the state of SMEs
in 2016. Haines Watts has local offices in
Swindon and Trowbridge.

Top tips for getting this right
• Recruitment - ensure the
business has a trusted
adviser who can question
the business owners’s
decision-making around
recruitment.
• When hiring a candidate, be
clear from the outset what
is needed with a detailed
job description.
• Build a strong network of
support inside and outside
of the premises and get into
the habit of exchanging help
and advice with leaders who
face similar situations.

For further details and a copy of the For Love Or Money? report visit: www.haineswatts-swindon.co