Shops are among the hardest businesses to start, with 72 per cent of independent shop owners describing the experience as a ‘constant challenge’.

That’s the main finding from a YouGov poll of small businesses commissioned by First Data Merchant Solutions and published today.

More than one in five small retailers said running the business was “much more challenging” than they had anticipated before starting-up.

According to the figures, the hardest aspects of retail were generating revenue, cited by 45 per cent of respondents, accounting, with 34 per cent of the vote and managing inventory, pointed to by 23 per cent.

Raj Sond, general manager at First Data, said: “Running a small business should be an exciting adventure, not a barrier to leading a normal life.

“Most businesses are born from a spark and a real passion for something. Unfortunately, the reality is that this enthusiasm becomes diluted by the drudgery of time-consuming administrative activities.”