Partner Article

Spouse Power boosts British business

The marital partners of British business owners are working 230 million unpaid hours every month, according to a new survey.

The research, carried out by Bibby Financial Services, suggests that ‘spouse power’ helps to ensure many firms are successful, with some 68% of spouses regularly taking part in some form of unpaid work for their partner’s business. Nearly one in five spouses work five days or more a week for free.

Around 40% of these silent - and unpaid - business partners work in an administrative capacity for their partner’s enterprise, while 29% help by balancing the books. A further 46% claim they are regularly consulted on ideas for the business.

Edward Rimmer, chief executive of Bibby Financial Services, said: “There is an invisible workforce toiling away behind the scenes to ensure the small business sector, which forms the backbone of the UK economy, runs smoothly.

“It is clear from our research that having an obliging ‘other half’ who is happy to be behind the scenes can be the key to business success, particularly in these volatile economic times when recruiting an extra pair of hands can be costly and time-consuming.”

Not all respondents worked for nothing, however: 34% of spouses surveyed have taken on some form of paid work for their partner’s business.

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