Why Micro Business Owners Struggle with Time Management
A new study found that 85% of face challenges managing their time, yet only 29% have strategies to address these issues.
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[Image source: Krishna Prasad/MITSMR Middle East]
Time management can be challenging for business owners because of their often-hectic schedules and the pressure of making responsible decisions.
A study by UENI, a small business solutions provider, highlights the significant challenges micro business owners face in managing their time. Nearly half (48%) of micro business owners work more than 60 hours per week, with more than 73% working over 40 hours weekly. This underscores the intensive commitment required to run a small business.
The study also found owners spend 33% of their time directly on service delivery or product creation, with their attention divided among several competing priorities. Administrative tasks receive 43% more time than marketing and sales, which are crucial for business growth.
On digital tool adoption, the study found that 79% of owners use digital or offline tools to manage their time, and only 9% rely exclusively on paper calendars. This reflects the widespread adoption of digital tools, suggesting that even the smallest businesses benefit from technologies.
However, only 25% of micro businesses currently use AI to save time, a stark contrast to larger enterprises where an estimated 65-75% actively use AI tools. Micro businesses using AI save approximately 5 hours per week, indicating the scope of increasing efficiency with further AI adoption.
According to the study, 85% of respondents face challenges managing their time, yet only 29% have strategies to address these issues. Major obstacles include time constraints, distractions, and poor organization of work.
“The study shows that micro business owners need more support in prioritizing tasks and leveraging technology to manage their time effectively. Small business-friendly tools and better AI applications will help these owners achieve more with less effort. But this technology needs to be paired with coaching and advisory to help business owners make a plan, prioritize, and execute,” said Christine Telyan, CEO and co-founder of UENI.
Telyan added, “Small business owners are empowered when technology comes together with practical human support.”
