Source: Radio New Zealand
A new survey has found half of small business owners have thought about throwing in the towel. Supplied
There is a certain sort of freedom which comes with being your own boss.
But a lack of work-life balance alongside carrying the finances can get heavy quickly – especially when times are tough.
In new research released by Xero, small business owners confessed that sometimes it did get a bit much, with close to half of survey respondents admitting they had thought about throwing in the towel.
It seemed 2025 had been an uphill battle, with three quarters of the business owners surveyed saying this financial year had been more stressful than previous years, blaming rising costs and unpredictable demand.
“Running a small business is hard work and business owners often have to make significant sacrifices – missing a child’s swimming sports or working all hours and not getting enough sleep,” said Bridget Snelling, Xero New Zealand country manager.
“This is what we call an emotional tax – the hidden personal costs small business owners have to pay every year,” said Snelling.
The difficulties of being in business come to a head at the end of the financial year, with almost half of small business owners saying it was the most stressful time of year.
Chasing paperwork and worrying about making mistakes were listed as concerns, while a surprise tax bill (or refund, but more often it was a bill) had at some point kept 54 percent of business owners up at night.
“We know the end of the financial year can sometimes sneak up on business owners who are so invested in the day-to-day doing of the work,” said Snelling.
And they may not be sleeping either. The survey found that stress costed business owners five hours of productive work every week, which worked out to 30 working days lost per year.
Despite the challenges of small business ownership, only 10 percent sought advice from an accountant or advisor when they were stressed.
“Stress isn’t just a feeling – it slows decision‑making, reduces creativity, and leads to avoidable mistakes,” said Snelling.
“It impacts the skills owners rely on to succeed.
“With the right tools and support, business owners can reclaim time, reduce their emotional tax, and feel more confident heading into EOFY.”
Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
