Admin overload and loneliness take a toll on soloists

Running your own show comes with plenty of perks. There’s flexibility, independence, and the chance to build something of your own. But for many sole traders, the reality is far from glamorous.

New research from Solo by MYOB has uncovered the hidden personal costs of working solo, with many business owners struggling with isolation, admin overload, and financial pressure.

The loneliness of working solo

According to the survey of 1,059 sole traders, a whopping 77 per cent admit to feeling lonely or isolated. Without colleagues to bounce ideas off or a built-in support network, many sole operators find themselves going entire days without speaking to anyone face-to-face. This lack of social connection can damage mental well-being, making it harder to stay motivated and engaged in the long run.

Admin eats into personal time

It’s not just loneliness that’s affecting sole traders – admin overload is another major challenge. Over a quarter (27 per cent) of sole traders spend more than 10 hours a week on admin tasks alone, with taxation (40 per cent), invoicing (34 per cent), and accounting (32 per cent) topping the list of time-consuming jobs. That’s more than an entire workday each week spent on paperwork instead of running or growing the business.

The impact? More than half (57 per cent) say admin pressures mean they have less time for relationships or self-care, with 88 per cent admitting they work evenings just to keep up. Younger sole traders are feeling it the most – 68 per cent of Gen Z and 67 per cent of Gen Y say their personal relationships are suffering due to their workload.

Holidays? What’s that?

The financial pressures of working solo mean many business owners are stuck in a cycle of constant work. More than half (52 per cent) say they’ve been unable to take a holiday due to financial constraints, while 16 per cent say they avoid time off because they fear falling behind on admin. It’s no surprise that burnout is a major issue, with 59 per cent of sole traders feeling physically or mentally exhausted.

Finding a better balance

So, what’s the solution? The research found that most sole traders believe extra support (23 per cent), setting clearer boundaries (23 per cent), and better time management tools (19 per cent) would help them take more time off and regain control over their work-life balance.

Dr Matt Agnew, scientist, mental health advocate, and sole trader himself, understands the struggle: “Being a sole trader is hugely liberating, but it’d be remiss of me not to mention the challenges. I can easily go an entire day without seeing or speaking to anyone. If you’ve got a flexible setup like me, it’s easy to slip from working from home to living at work.”

Tech to the rescue?

Paul Robson, CEO of MYOB, believes technology can play a big role in reducing admin burdens: “Two-thirds of Australia’s small businesses are sole traders, and while there are many of them, they often find themselves working alone. With Solo by MYOB, we’ve created an AI-powered mobile app to help sole traders make more time for what matters – whether that’s growing their business or spending time with loved ones.”

With more than 1.6 million sole traders in Australia, finding ways to ease the pressure on solo operators is more important than ever. Reducing admin overload should be a priority and technology and outsourcing can help with this pressure. Similarly, increasing social connections could make all the difference to sole traders struggling with isolation.

What’s your experience as a sole trader? Do these findings ring true for you? Let us know in the comments!

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