Originally written by Timothy Adler on Small Business
Nearly two thirds of small business owners are losing sleep over their company’s lack of productivity.
Sixty-five per cent of SME owners surveyed by Small Business said that their business productivity — or lack of it — keeps them awake at night.
Productivity has been dire in the UK since the financial crisis, sitting around 16pc lower than peer economies. The outlook remains grim, with a recent US study predicting that Britain will be the only advanced economy to experience falling productivity growth in 2019.

Finding and retaining the right staff is the overwhelming factor holding British SMEs back. Forty per cent of small businesses say that not having the right staff is hampering growth. When asked what was the one thing they’d change to improve their company’s productivity, one respondent groaned, “Hire a few more assistants” while another said they wanted somebody to help with sales and marketing.

Old-fashioned processes (28.4pc), out-of-date computer systems (16.2pc) and cramped offices (15.3pc) were also cited as other factors reining SMEs in.
Lack of cash flow to expand is seen as the biggest business challenge over the next 12 months (63pc) followed by finding and retaining staff (15pc), late payment from

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