The arrival of July evokes reminiscence of summers past with daydreams of beach visits and school holiday memories. I can still vividly recall the uninhibited and carefree discussions amongst my school friends and I, which inevitably evolved – or degenerated – into wild fantasies about our impressive future vocations. Tenacious and equipped with a belief in our invincibility, these plans grew more ridiculous as our unbounded, fertile imaginations ran unchecked. Rock star, zoo owner, stunt rider… you name it; we would one day be doing it. Start-up loans and employee wages had no place on our exciting agenda, which was focused entirely on the thrill of fantasy with no awareness of reality.

Fortunately, running a small business is something of a balancing act between the fruits of our collective childhood imaginations and the red tape of reality. Small business owners can enjoy many benefits including greater autonomy over their career, control over who their colleagues are, and pride in building something of their own. “I get to drive a pickup truck and hang out with my dog a lot more,” says small business owner David Winters on finding his own work/life balance. It’s hardly surprising, then, that if you run a small to medium-sized enterprise (SME) you are part of the 99% of 4.9 million businesses in the U.K. This percentage, defined by the House of Commons as a business with fewer than 250 employees, accounts for 12% of firms engaged in exports and 11% of firms involved with imports, meaning that SMEs have considerable economic importance.

Just as there are advantages to being your own employer, SMEs face their fair share of challenges. As well as having to contend with external problems that are largely beyond their control, including the state of the economy, legislative restrictions, and an employee skills gap – to name but a few – there are also internal problems to contend with. Running your own business can be an exhausting process punctuated with difficult situations and decisions that can be a catalyst for feelings of isolation and uncertainty. Combined with indecision over how best to manage your time effectively, pricing your services correctly, and balancing quality with growth, there are many potential pitfalls involved with growing an SME.

The aforementioned advantages can help you in overcoming these difficulties, however. If you find yourself wracked with self-doubt remember that you have the power to change your environment. Surround yourself with positive, optimistic staff who understand your vision and want to support you in achieving your business goals. Remember also that you can find support from fellow SMEs at local networking events. Realising that your concerns are shared by other business owners won’t necessarily make your role easier, but you will find strength through solidarity.

Do you feel ignorant of resources that are available to you? Communicating with other local SMEs can also help you discover support services including additional funding and advice to help you run your business. Co-founder of Tennessee SME Michael Wilson explains that running a small business should be an enjoyable journey of personal discovery: “The great thing about owing a small business is I rarely experience the same day twice because, every day, I learn something new.” By keeping this mantra in mind and communicating both concerns and developments with your staff and other SMEs, you will hopefully find the strength and support to succeed with your business.

By Georgina Hawkins

Georgina is an expert networker, community blogging specialist and Community Manager at Shake Social.

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