Business owners in the West Midlands are spreading themselves too thin by taking on so many different roles within their own company, according to new research by invoice finance specialist Bibby Financial Services.

The region's owners and managers are well aware that wearing a range of different hats is par for the course, but according to new research many are regularly being forced into taking on other duties in addition to traditional roles such as recruitment, securing finance and marketing.

The survey found  82 per cent of businesses in the region are being drawn into purchasing office supplies, and almost four in 10 (39 per cent) are regularly collecting and making deliveries while a staggering 73 per cent even help out with the cleaning.

With 69 per cent of West Midlands business owners having to deal with customer queries and chasing payments (54 per cent) there is little time left for the day-to-day business functions with less than a third (30 per cent) pursuing new business. 

At a time when owners and managers should be focused on identifying growth areas for their business as well as maintaining a healthy cash flow, increasing orders and boosting sales figures, the findings by Bibby Financial Services suggest the West Midlands business owner of today is actually an extreme multi-tasker.

Bibby Financial Services' spokesperson for the West Midlands Sharon Wiltshire says: "We work closely with many businesses in the West Midlands and understand the pressures they face, particularly at a time where budgets are tight and owners cannot afford extra staff to fill the various office roles.

"The research highlights how demanding running a business can be and that some owners and managers may be taking on too much. It is a concern that many in the region are spending so much time chasing payments, dealing with suppliers and securing funding, in addition to their many other duties.

"There is a danger that businesses in the West Midlands are at risk if owners spread themselves too thin and spend valuable time chasing payments. Invoice finance providers can ease the pain for owners and managers by providing the funding they require and taking control of chasing customer payments, freeing up time for them to concentrate on running the business.

"At Bibby Financial Services we offer a specialist credit control service with our flexible funding solutions, freeing up business owners time as we chase and collect outstanding invoice payments on their behalf, allowing them to get on with the important job of running of their business."