Member Article

Longer hours 'lead to success' for SMEs

British entrepreneurs are clocking up over 47 hours every week but are seeing a benefit as well, according to a recent survey. The Bank of Scotland’s report on the work-life balance culture of Britain’s small business managers shows that 24 million extra ‘working weeks’ are 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. 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.

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.

Even those who do 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.

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.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .