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1 in 3 Business Owners Say A Better Work/Life Balance Is Their Top Priority For 2024

Jan 18, 2024
  • A new study has revealed that 32% of small business owners wish they placed more focus on their work/life balance during 2023


  • Managing stress, branding and getting a handle on admin and finances also feature as the things business owners want to get better at in 2024


  • Business consultant Jon Barnes has offered his advice on how business owners can improve their wellbeing, as well as their business this year


New research by has revealed the new year’s resolutions small business owners are making for 2024, with a mix of managing their own wellbeing, as well as finances, topping the charts.


As January marks the opportunity for a fresh start but also to reflect on the year that’s just been, Yell asked small business owners what they wish they prioritised more during 2023. One in three small business owners said they wished they’d ensured a better work/life balance and advised anyone running a business to make this a priority for the new year. Difficult in many lines of work, let alone when you run your own business, previous Yell research that highlighted how three-quarters (75%) find it hard to set boundaries with their clients, hints at just one reason gaining a happy work/life balance can be so troublesome for so many.


In a similar vein, prioritising personal stress levels ranked as the second most common business resolution for 2024, with 27% stating that they wish they’d managed this better through 2023.


The Top 10 Resolutions Business Owners Should Be Making In 2024

Rank Resolution % of small business owners who agree
1 Better work/life balance 32%
2 Prioritise my personal stress levels 27%
3 Expanding into new markets 26%
4 Cutting costs 22%
5 Developing new products or offerings 20%
6 Spending more on social media presence 18%
7 Spending more on website 17%
8 Further training for themselves 14%
9 Branding 14%
10 Getting admin in order 12%


Outside of personal wellbeing, admin and finance related tasks are also high on the list of 2024 priorities for business owners, with cutting costs and getting on top of admin both making it into the top ten resolutions for 2024.


With the tax return deadline looming on the 31st January, a further 1 in 10 business owners also admitted to wishing they had completed their tax return sooner and may currently be paying the price for leaving it as a problem for their 2024 selves.


How can business owners manage their finances better in 2024?


Being well prepared and investing in an accountant can be two easy ways to reduce the stress that comes with this time of year. Naz from explains: “Some business owners possibly don’t understand the importance of tax returns and leave it until last minute, and a lot of businesses tend to think doing tax returns is straightforward. Though it can be for some, a lot don’t know what they can and can’t claim for. Though it can be tempting to do tax returns yourself, as business costs can increase when using a professional, paying an accountant can actually save you money and stress in the long run.”


“The three best pieces of advice that I can give would be to keep all of your receipts, differentiate between your personal and business expenses, and invest in software so that you can understand where you are with your finances.

 

There are a handful of small business owners that know exactly what they’re doing with their finances, but there are a lot of businesses that may not understand what their finances are like throughout the year, so starting to learn more about this is always a good thing.”


What steps can business owners take to improve their own work/life balance and stress levels?


In addition to discussing better finances with Naz, Yell also enlisted the help of business consultant , who focuses on helping businesses become more autonomous and efficient, to tackle the two biggest business resolutions for 2024, and help owners to make this the year to improve their work/life balance and reduce stress levels, all while bettering their business:


1. Plan in a ‘recovery’ day - If you’re working on your business every day of the week, you’re likely to be pushing yourself towards burnout. Recovery in sport is when we often make the most gains, as muscles repair themselves, and it’s the same for business. Taking a break from work will let your brain recover and allow you to to work with greater motivation and a clear head. Jon says: “Owning a business is a marathon, not a sprint. As such, it requires thinking like an athlete. I actively schedule recovery time into my days and weeks, such as a daily workout and meditation, and even going to the sauna once per month.”


2. Prioritise sleep - If your quality of sleep is poor, you run the risk of trying to run a business with a half-empty tank. Jon says: “Not only is it harder to operate effectively when struggling with tiredness, but any problems are also likely to seem much worse. Getting good sleep will strengthen your decision-making skills, enhance your cognitive function and support your innovative thinking, so try and take steps like leaving your phone outside the bedroom and having screen-free time before bed to give yourself the best chance at a restful night”.


3. Try to reduce screen time - It’s easy to get wrapped up in screens while working, as your laptop and phone give you access to others (and them to you!) at the click of a button. However, this isn’t always a good thing. Taking time away from screens has been shown to help reduce stress levels, create better focus, increase productivity and improve your sleep among other benefits, all of which will help you to be more effective as a business owner. Jon comments: “I’m very disciplined about avoiding my phone - taking longer lunch breaks away from all screens is just one way you can work this into your routine.” Not to mention, taking time away from screens and work will help you reconnect and spend valuable time with your loved ones, and on other enjoyable hobbies too!


4. Empower your team - As a business owner, it can be easy to think that all the responsibility falls onto you, but as they say, a problem shared is a problem halved, and leaning on your team can quickly make your life much easier. Jon explains: “This isn't just delegating, but actively treating team members like adults who we want to see take ownership over areas of the business. This is incredibly motivating for team members and liberating for owners. I recently had a CEO I've been coaching, take a whole month off in the summer. When they came back, they said: "The team did so well. They didn't even need me!", which is exactly how any business should be able to run.”


How can business owners get more digitally savvy in 2024?

 

While wellbeing, admin and finances were all high on the list of business priorities for 2024, the resolution rankings also revealed that many business owners have also identified 2024 as the year to get more digitally savvy. In fact, approximately 1 in 5 business owners wish they’d spent more time improving their social media presence and website last year.

 

Having transitioned to being a fully digital business five years ago, Yell know a thing or two about prioritising search, social and your businesses online storefront, with Sarah O’Rafferty at Yell commenting:

 

“Having an online presence is critical for businesses in our digital age. Most of the consumer journey now takes place online, so if you’re not easily available, you’re missing out on a huge number of potential customers. However, with so many businesses competing in the online space, just having a website or social media platform isn’t enough – you need to go even further to show exactly why customers should be choosing your product or service.

 

Effectively utilising the platforms available to you will help to take your business to the next level. Strengthening your profiles with reviews, testimonials and regular behind-the-scenes content – plus helpful tips or product examples – will give customers confidence, and keep you front of mind for when they may next need your help. Keep an eye on newer platforms too – TikTok has quickly become a must-have social channel for many businesses, allowing them to reach a new audience, and for their services to quickly go viral, giving them a massive boost!”

 

To find out more and for tips on how to improve your businesses digital presence, visit:

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Yell Ltd exists to connect businesses and consumers via its leading marketplace for local services and offering managed digital marketing helping businesses to find, connect and sell to consumers online. Yell Ltd is a proud Google Premier Partner, Microsoft Advertising Elite Channel Partner, and Meta Business Partner.


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15 Oct, 2024
As across the UK temperatures officially hit single digits, homes will be turning to their trusty thermostats to give them some much-needed warmth this autumn. However, with your boiler sitting docile all summer, you may find yourself without heat when you need it. With an average of 5,100 searches each month, in autumn, searches for “boiler repair” begin to creep up. They peak in December as households find broken boilers when they need it the most. Searches have climbed 257% this month alone. With this in mind, Yell has partnered with David Doran, a plumbing expert at Blackstone Plumbing & Heating Ltd to find out what heating checks you need to make and how to avoid a winter breakdown. What checks should you carry out before turning your heating on? 鈼 Check your boiler pressure Your boiler pressure gives you an idea of how efficiently your heating system is running by telling you the pressure of the water circulating through your system. If the pressure is too high, then this could cause leaks to develop. If it’s too low, the system won’t work as well, leading to ineffective heating, and you’ll find your home will be colder than expected. David explains, “Low pressure can result in ineffective heating, while high pressure can potentially damage your system.” He recommends keeping the pressure gauge between 1 and 2 bars, which provides the ideal balance for optimal performance. If you notice a slight increase in boiler pressure while it’s running, don’t worry—this is completely normal. Just ensure the pressure stays below the 3-bar mark during use. 鈼 Check your thermostat Make sure your thermostat is working properly and accurately reading the temperature. If the readings are inaccurate, the thermostat might cause your boiler to work overtime, wasting energy trying to reach a room temperature that’s already been achieved. Conversely, it could shut the boiler off too early, known as short cycling, leaving you in the cold. David suggests, “ Consider replacing old thermostats with programmable or smart thermostats to improve efficiency. If your thermostat runs on batteries, check if they need replacing. ” 鈼 Test out your heating system before you need it It’s important to test your boiler before you need it, to avoid being one of the thousands of Brits searching for “boiler repair” in December. Run your heating system for a short period (e.g., 15-30 minutes) to ensure all radiators heat up evenly and there are no unusual noises from the boiler or pipes (e.g., banging, clanging, or gurgling sounds). Should you notice anything untoward, such as cold spots, it’s worth reaching out to your local heating specialist . On Yell, you can either browse nearby listings or post an enquiry . 鈼 Ensure your boiler is regularly serviced Annual servicing of your boiler is important to ensure that your system is operating safely. According to insights from HomeServe , more than half (58%) of UK households haven't checked that their boiler is working as it should and 56% of the population haven't had an annual boiler service. David says that it’s important to “ have your boiler serviced once a year. Faulty boilers can lead to dangerous situations like gas leaks or carbon monoxide poisoning, which can be deadly. ” A service includes checks for leaks, blockages, and the correct operation of safety devices. David adds, “R egular servicing keeps your boiler running efficiently. Over time, boilers can accumulate dirt, dust, and limescale, reducing efficiency. A well-maintained boiler burns fuel more effectively, helping you save on energy bills. ” Alongside this, it’s important to remember that many boiler manufacturers require annual servicing as part of their warranty terms. Skipping a service could void your warranty, leaving you without coverage if something goes wrong. Additionally, some home insurance policies may also stipulate that your boiler must be serviced regularly. A local plumber should be able to service your boiler and give you the advice and support you need. Tips on how to get the most out of your heating during cold weather According to Pepper Money’s Specialist Lending Study , 73% of people say that even a £100 increase in monthly bills would seriously affect their household finances. With winter on the way, maximising the efficiency of your heating during cold weather can keep your home warm and comfortable while also saving on energy bills. David Doran and Yell provide tips on how to make the most of your heating in the cold weather: 鈼 Only set your heating to when you need it: A programmable thermostat allows you to create a heating schedule that fits your routine, reducing wasted energy when you’re not home or during sleeping hours. Smart thermostats can learn your habits and adjust heating automatically, optimising efficiency. 鈼 Aim for a comfortable temperature: Aim for a comfortable temperature between 18-21°C (64-70°F). Setting your thermostat at 18-20°C can significantly reduce energy consumption compared to higher temperatures. For every degree you lower your thermostat, you can save around 1-3% on your heating bill. 鈼 Only heat the rooms you need: Thermostatic radiator valves (TRVs) only heat the rooms you’re using. Keep unused rooms at a lower temperature or turn the radiators off entirely in those spaces. 鈼 Don’t block the heat with furniture: Avoid placing large furniture or curtains in front of radiators. This blocks heat circulation and makes your heating work harder to warm the room. Clear airflow helps the heat distribute more effectively throughout your home.
03 Oct, 2024
Research by driving experts at Yell has revealed that Leeds and Belfast are officially the best cities to be a learner driver. With driving lessons averaging at £33 per hour in Leeds, this city makes an affordable choice for most learner drivers at 13% less than the national average of £38. Belfast is 3% above the average of £38, but learner drivers benefit from short wait times of 10 weeks. Demand for driving lessons is at an all-time high as the backlog from the pandemic continues. Until driving test capacity increases, the backlog is expected to only get worse, with high-demand areas having seemingly no end in sight. In 2024, there are an estimated 3,712,728 learner drivers in the UK competing for driving test slots, but the Driving Vehicle Standards Agency (DVSA) can only accommodate 2,042,976 of them. This means that demand for driving tests is expected to exceed capacity by 82%. This pressure only continues as data from the DVLA shows that , from January to March 2024 (Quarter 4), 666,000 car theory tests were conducted in Great Britain, an increase of 12% from January to March 2023 (Quarter 4). Equally, from January to March 2024 (Quarter 4), 561,000 car practical tests were conducted in Great Britain, an increase of 25% from January to March 2023 (Quarter 4). The delays in booking tests and the ongoing backlog are causing major frustrations for both drivers and instructors. Learners are having to take more lessons to make up for the additional waiting time and instructors are unable to take on more drivers due to the backlog. According to a survey from car insurance provider Marmalade , 77% of learners have cited that the extra cost of more lessons has been their biggest frustration. DVSA says that learners will need an average of 45 lessons to pass a test , working out around £1,710 per student. However, with wait times for tests now at an all-time high at an average of 21 weeks across the country , driving instructors and their students are in a crisis. Learners across the country are facing a postcode lottery when it comes to waiting for a driving test slot, and most centres are seeing over double the wait times of pre-pandemic levels, which saw an average of only 6 weeks. Leeds and Belfast revealed as the best cities for learner drivers in the UK Taking into account the average cost of driving lessons in each city, the average wait times and driving test search demand, Yell has created a list of the best cities to be a learner driver in 2024. It’s revealed that Leeds and Belfast are officially the best cities to be a learner driver. With driving lessons averaging at £33 per hour in Leeds, this city makes an affordable choice for most learner drivers at 13% less than the national average. While driving test wait times are still relatively high at 20 weeks, this is one week less than the national average, and search demand in the city is slightly less than the national average, seeing 1,700 searches each month. Belfast averages £39 for driving lessons, which is 3% more than average, however drivers benefit from short test wait times at only 10 weeks. Belfast also has a smaller search demand of 1,400 searches each month for “driving lessons Belfast”. London is ranked as the worst place for learner drivers. The average driving lesson costs are second highest in the country at £41 per hour, 8% over the national average. London has the second highest wait times at 23 weeks, which is mirrored in its monthly search demand, which is the highest in the UK with over 2,800 searches for “driving lessons London” each month.
27 Aug, 2024
New research by driving experts at Yell has revealed the UK’s top 10 speed camera hotspots and which regions are catching drivers out this summer. Looking at police records from every county across the UK between the periods of July 2023 and August 2023, the experts at Yell have revealed that Surrey takes the top spot for the most speeding violations in the UK with 22,811 between July and August 2023. In 2023, 203,801 people were found guilty of a speed limit offence - this is a decrease of 8% when compared to the previous year, but an increase of 85% since 2011. Across the UK, there are now around 7000 cameras on the road networks, catching drivers out across the country - from speeding violations to using a phone whilst driving, or parking illegally. Below, the driving experts at Yell have identified the top ten speed camera capitals in Britain: Top 10 UK regions with the highest number of speeding offences The UK’s number one speeding hotspot in the UK is Surrey with 22,811 speeding violations between July-August 2023 . Within Surrey, the speed camera hotspot that has been catching the most drivers on the road is the M25/M3 Junction. The location coming in second for the most speeding violations is West Mercia. West Mercia saw 21,266 speeding violations in the period of July-August 2023, with the M5 J8 SB speed camera catching the most speeding violations. The location coming in third highest for speeding violations is Nottinghamshire, with 16,400 violations being caught. The M1 North Bound between Junction 26 and 27, Notts has been identified as the location that catches the most speeding violations in Nottinghamshire between July-August 2023.
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