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Are You Working Long Hours to Help Growth?
 Small
business owners and entrepreneurs are well
known for working long hours to grow their
business; but a new survey has shown that
many are damaging their work-life balance by
failing to take holidays and adequate
breaks.
British entrepreneurs are clocking up over 47 hours every week,
according to a survey into the work
life-balance culture of Britain's small
business managers by Bank of Scotland
Business Banking. This equates to a
staggering 24 million extra 'working weeks'
put in collectively each year by the UK's
1.4m small businesses.
Small businesses in Yorkshire and Humberside lead the long hours
table with an average working week of almost
50 hours compared to entrepreneurs in Wales
who clock up 45 hours a week (see Table 1).
Among those experiencing the highest levels
of annual growth the average working week is
significantly higher than those performing
less well. For those growing at over 10% a
year the average working week is 51 hours
(see Table 2).
Other findings from the work-life balance survey show that the
considerable hours being invested by
Britain's entrepreneurs are biting into
holiday time, as over half (53%) of
Britain's owner-managers will not be taking
a two week Summer break this year – 28%
saying it is not very likely and 25% certain
that they will not get a two-week break.
The low uptake of a traditional fortnight summer holiday is
symptomatic of the time pressures being
experienced by Britain's entrepreneurs, who
only take an average of 16.5 days holiday
per year. More than six in ten (65%) take
less than 20 holidays per year – the
statutory minimum for UK employees – while
more than one in five (22%) take less than
10 days holiday a year.
Even those who manage to break free from the workplace are unable
to completely switch off whilst on holiday.
Over a quarter (26%) admits to either
constantly thinking about their business or
frequently checking in by phone or email.
The long hours being invested by Britain's small business owners
appear to be taking their toll, as over half
(54%) find the running and managing of their
business stressful which, in turn, is having
a negative impact on other aspects of their
lives. Results show that:
41% admit that stress has damaged the
quality of their home life
39% admit that stress has adversely affected
their quality of life
36% admit that stress has adversely affected
their relationship with friends and family.
32% admit that stress has adversely affected
their health.
25% admit that stress has adversely affected
the way they treat colleagues in the
workplace.
Kevin Gillett, Head of Bank of Scotland
Business Banking, said: "Contrary to the belief that Britain's long hours
culture is hindering productivity, it
appears that those entrepreneurs who invest
more time in their business are experiencing
higher growth. However, with long hours
accompanying above-average stress levels,
there is a clear downside to the pursuit of
success for some small business owners. The
real problem lies not so much in the long
hours but in the burden of responsibilities
faced by entrepreneurs trying to run a
business in today's commercial environment.
To stem the tide of rising stress levels, it
is vital that these businesses receive the
best possible support and service from their
suppliers, professional advisers and from
Government, so that they can focus on the
core job or running their business."
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