Decisions around financial matters are the ones businesses fear the most, according to a recent survey by the National Australia Bank (NAB).
"Almost a quarter of business leaders said finance and investment were the toughest decisions they’ve ever had to make," says George Franzis, executive general manager of business and private banking at NAB. "This includes deciding when to invest in the business, what to purchase and when, leasing premises and equipment, or determining when to buy instead of lease, be it equipment or property."
The second hardest decisions were those involving staff, Franzis says. Thirteen percent of SME leaders included deciding to start a business with a similar amount finding it tough to decide to sell the business or close up shop.
Other areas of decision-making rounding out the survey included expanding or relocating the business, issues with business partners and retirement.