Sign up for Funding Circle newsletter!
Get our latest news and information on business finance, management and growth.
Updated: March 27th, 2020
In the current age of perpetual connectivity, more and more business owners seem to be running most of their operations with a smartphone in hand.
“As a business owner, I’m glued to my phone,” says Brian Ruben of Solé Bicycles, which sells high performance, stylish, and affordable bicycles out of a small headquarters in Venice, CA.
From managing finances and accepting payments, to targeting new customers and attending meetings, the humble phone is no longer just for making phone calls. There’s a wealth of information available at your fingertips, and your contacts are just a few taps away.
But is the power of the internet in your pocket a help or a hindrance when it comes to running your business while holding onto some sliver of work-life balance? Always being easy to reach can often mean, well, always being easy to reach. Is the extra work worth the extra flexibility?
To celebrate the 10th anniversary of the iPhone, Funding Circle conducted a survey of over 1,000 entrepreneurs* about the perks and pitfalls of having a smartphone. Here are three reasons why one-in-five small business owners admitted they would rather give up a day of vacation than their smartphone for a week:
Gone are the days where you’re tied to your desk, waiting for that important phone call! The new motto is “have phone, will travel” — 56% of business owners surveyed agree that having a smartphone allows them the flexibility to work from various locations. Whether that’s at another storefront, running a quick errand, or enjoying some down time at home, business owners appreciate the freedom (and extra time!) to get other tasks done.
Sound contradictory? Another upshot of perpetual connectivity: being able to work from wherever means vacation time, too. 44% of business owners said that having a smartphone helps them relax more during vacations, knowing they’re only a phone call away. It’s reassuring to know that because you’re accessible, you’ll still be the first to know if something goes wrong. So enjoy your vacation and relax! You earned it.
Being a business owner can be tough, particularly when it comes to staying close to loved ones. 49% said that their smartphone helped them bridge the distance — whether it’s on a business trip or just a long day at the office, being able to easily exchange text messages, video chats, photos, and good-old-fashioned phone calls gives everyone the peace of mind to help get through the long days. A quick “I love you,” “I miss you,” or “I can’t wait to see you” goes a long way!
Would you rather lose your smartphone for a week or a day of vacation? We’d love to hear about it! Join the conversation on Facebook, LinkedIn, and Twitter.
Paige Smith is a Content Marketing Writer and Senior Contributing Writer at Funding Circle. She has a bachelor's degree in English Literature from Cal Poly San Luis Obispo, and specializes in writing about the intersection of business, finance, and tech. Paige has written for a number of B2B industry leaders, including fintech companies, small business lenders, and business credit resource sites.