The information you submit via our enquiry form is shared only with the franchise business(es) that you have selected.

The franchise business will contact you by means of email and/ or telephone only to the email address and phone number you have provided.

By submitting the enquiry form you are consenting to send your personal information to the selected franchise business.

You also agree to receive further newsletter email marketing from What Franchise.

Close

Revealed! UK business owners share their biggest financial mistakes

Revealed! UK business owners share their biggest financial mistakes

New data by Hitachi Capital Invoice Finance (HCIF) reveals that half of the country’s business owners regret having a naive attitude towards cashflow during the start-up phase

A study conducted by Hitachi Capital Invoice Finance gathered data on 1,000 business owners to identify what they considered were their biggest financial mistakes.

Keep up to date with the latest What Franchise News sent straight to your inbox. Sign up here.

Top of the list was having a naive attitude towards cashflow (48 per cent) during their company’s infancy.

Almost two-thirds (64 per cent) of those who identified cashflow naivety as their largest regret suggested that they overspent before gaining any profit, ultimately leaving them in larger debt than they could manage.

Those in the business services, such as sales or marketing, regretted their attitude to cashflow, with 65 per cent claiming it almost ended their business venture. Training providers were second most regretful (63 per cent) and manufacturing third (53 per cent).

Gaining enough funding was also a major regret, with two in five business owners claiming they made the wrong decision in starting a business with the budget they had.

Recruiters felt the worst with 62 per cent stating they didn’t take advantage of better funding options available. This was followed by the manufacturing (54 per cent) and then the retail industries (49 per cent).

More than a quarter of business owners (27 per cent) claimed they “didn’t know they could receive loans and grants” and simply used their own money to help support their start-up.

Those in the legal sector (51 per cent) had the least knowledge on funding options available to them, followed by owners in transport and logistics (46 per cent) and healthcare (40 per cent).

Andy Dodd, managing director of Hitachi Capital Invoice Finance, said: “It’s fascinating to find out just how many businesses have lacked financial planning such as not forecasting or budgeting for key start-up essentials such as marketing costs.”

The biggest culprits that didn’t have marketing budgets include those in transport and logistics, recruitment (42 per cent) and manufacturing (42 per cent).

“We are really passionate about helping people start their own businesses and try and support them wherever we can. I hope this survey allows new business owners to look at their own financial planning and re-consider those critical spends they need to plan for,” continued Dodd.

Meanwhile, the study found that only 13 per cent of UK business owners didn’t regret any financial decisions they made during their start-up phase.

Keep up to date with the latest What Franchise News sent straight to your inbox. Sign up here.

Exciting Franchise Opportunities

Recognition Express Ltd logo

Start your own Recognition Express Ltd franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

£70,000

Request Free Information
Find Out More
Recognition Express Ltd logo

Request Free Information

Send a free enquiry to Recognition Express Ltd for further information!

By clicking you agree to be contacted by your selected franchise(s). For further details click here
SylvianCare logo

Start your own SylvianCare franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

Discussed at interview stage

Request Free Information
Find Out More
SylvianCare logo

Request Free Information

Send a free enquiry to SylvianCare for further information!

By clicking you agree to be contacted by your selected franchise(s). For further details click here
Signs Express logo

Start your own Signs Express franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

N/A

Request Free Information
Find Out More
Signs Express logo

Request Free Information

Send a free enquiry to Signs Express for further information!

By clicking you agree to be contacted by your selected franchise(s). For further details click here
YiFang Taiwan Fruit Tea UK logo

Start your own YiFang Taiwan Fruit Tea UK franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

16-18 months of operation

Request Free Information
Find Out More
YiFang Taiwan Fruit Tea UK logo

Request Free Information

Send a free enquiry to YiFang Taiwan Fruit Tea UK for further information!

By clicking you agree to be contacted by your selected franchise(s). For further details click here
Driving Miss Daisy logo

Start your own Driving Miss Daisy franchise

Profit Chart
Funding Support Available ? Help is available. Check out our franchising funds guide.

Yes

Find Out More
Expected Revenue After 2 Years

N/A


Request Free Information
Find Out More
Driving Miss Daisy logo

Request Free Information

Send a free enquiry to Driving Miss Daisy for further information!

By clicking you agree to be contacted by your selected franchise(s). For further details click here
View all opportunities

What Franchise Newsletter

Keep up to date with all the industry news

Thank you, your sign up was successful. Please check your emails for a verification link.