During financially quiet times, baby boomers experience the most stress out of any generation, according to this survey
Brokers deal with stress every day — from finding clients to closing a deal. They may not be able to avoid the pressure that comes with their work, but they can better manage it.
And one way to do so is found in the recent survey conducted by trade comparison site ServiceSeeking.com.au involving more than 2,000 of its users in April 2018.
It revealed that seasonality impacts the stress and energy levels of the majority of small business owners. While the results may come as a surprise to many, it serves as a useful tool brokers can turn to to better understand their clients’ mindsets and moods during different seasons, and to help them plan for slowed cash flow during quiet times.
In response to the same question, Generation Y was the least stressed, with less than 2% of the respondents saying the stress was “overwhelming during quiet times”.
“Seasonality can strike a business when they are least prepared. You need a plan to top up cash flow during quiet times,” said ServiceSeeking.com.au CEO Jeremy Levitt in a statement.
Business owners largely consider winter as the worst season for cash flow. It’s also the time when they feel most sluggish.
Thirty-three per cent of Tasmanian small business owners, 28.6% of ACT small business owners, and 24.5% of business owners in Western Australia said they experience less energy during low season.
In the Sunshine State, only 16% of small business owners reported having less energy during tough times.
The survey revealed that 12% of baby boomers experienced 75% less business during low season, 10.9% of Generation X found their cash flow fall by 75%, and a mere 6% of Generation Y said the same.
Over 35% of ACT small business owners reported to had experienced a 75% increase in cash flow during peak times and the same percentage decrease during low season. During seasonal troughs, 16.7% of Tasmanian SMEs experienced a 75% decrease in cash flow, while 16.6% of WA businesses and 15.4% ACT businesses reported a 75% decrease.
