Be honest, dear - entrepreneurs turn to partners for frank feedback

A survey has found more than half of entrepreneurs would rather get business advice from their partner than their bank manager. We're not surprised.

by Emma Haslett
Last Updated: 27 Jan 2012
MT is all about trusting its other half when it comes to domestic life (except for buying the right brand of toilet roll, but that's another story). But apparently, more than half of small business owners are also only too happy to turn to their significant others when it comes to professional matters, too. According to a survey by T-Mobile, when they're running into trouble, entrepreneurs go to their partners for advice because they're more likely to give it to them straight. Which might go some way to explaining the high divorce rate.

Of the 2,000 business owners the survey spoke to, 51% said they turn to their partners when they need some advice, just under a quarter said they speak to their accountant, while 3% said they talk to a trade body or another local business. And a meagre 2% said they turn to their bank manager (hardly surprising, given lending rates at the moment). Northerners seem to be the most reliant on 'er/'im indoors, with six out of 10 saying their partner is the one they turn to when they need to talk business, while Londoners are the least trusting of their bank managers, with a puny 1% seeking advice from them.

Granted, the survey doesn't seem to have been carried out in the most scientific of manners (apparently, 53% of business owners turn to the person 'most likely to tell them the truth', while 27% speak the person who is 'most likely to give it to them straight'. We'd argue that there's 100% 'no difference between the two'). But it still makes a fair point: namely, that there are times when we all want to speak to someone we trust implicitly, and who won't beat around the bush.

Of course you can go too far down the unvarnished route to conjugal happiness - too much honesty has probably wrecked almost as many relationships as too little. But when it comes to money - particularly during these straitened times - it's the only policy. It's so much easier (and cheaper) just to be told the truth. Bank managers, take note.

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