SOURCE: Sage Software

November 08, 2005 09:15 ET

One in Six Business Owners Would Not Set up Shop Again According to Sage Software Business Minds Survey

15% Say No; Accountants Say No Most Often

IRVINE, CA -- (MARKET WIRE) -- November 8, 2005 -- While the majority of business owners are passionate about their businesses, averaging 54 hours per week in the seat, one in six indicate that, if they were to do it again, they'd take a pass. That finding comes from the Sage Software Business Minds Survey, a study of the ups and downs of business life in North America conducted by The Marketing Workshop, Inc. on behalf of Sage Software. The survey explored issues of business confidence, passion for business, pace of change, and external influences. Survey respondents were predominantly the business leader, with 85% being President, Owner, Partner, or CEO.

According to the survey, companies in the US Northeast, and those in the business services arena are the most likely to set up shop again, while those in the US Northwest and in the accounting and tax services business are least likely. Among the accountants who responded, 30% indicated they are either unlikely or unsure if they would set up a business again.

"Notwithstanding the rigors of labor intensive industries like construction, accounting practices have some grueling workplace challenges, especially within very small firms and sole practitioners where you have to do it all," said Krista Endsley, Vice President and General Manager of Sage Software's Practice Solutions (formerly CPASoftware) business. "What makes the accounting community unique is their exposure to such a broad range of businesses they serve, and their focus on making their clients successful. Clearly that's very rewarding for the 70% majority who would opt to start a business again, and may be what makes the idea of being an employee rather than an owner more attractive to the 30% who aren't inclined to continue the entrepreneurial life."

The life of the entrepreneur involved in accounting and tax services is one of 'bootstrapping,' according to the Sage Software Business Minds survey. Respondents from the accounting and tax services business were predominantly self-financed, with 78% reporting that they funded their own startup. The investment was worth it: 58% say they saw revenue increase last year.

Other results from The Sage Software Business Minds Survey are available at http://www.bestsoftware.com/newsroom/businessminds_survey/index.cfm.

About Sage Software (formerly Best Software)

Sage Software offers leading business management software and services that support the needs, challenges and dreams of more than 2.4 million small and mid-sized business customers in North America. Its parent company, The Sage Group plc (LSE: SGE.L), supports 4.5 million customers worldwide. For more than 25 years, Sage Software has delivered easy-to-use, scalable and customizable software for accounting, customer relationship management, human resources, time tracking and the specialized needs of accounting practices and the construction, distribution, manufacturing, nonprofit and real estate industries. For more information, please visit the Web site at www.sagesoftware.com/moreinfo or call (866) 308-2378.

© 2005 Sage Software, Inc. All rights reserved. All other brands are trademarks of their respective companies.

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