Partner Article

Small Business Owners work 15.3m extra days annually

UK small business owners work an average of 15.3 million extra days each year, in comparison to the average UK employee, according to Yorkshire Bank.

Research indicates that high numbers of small business owners are working long hours through ill-health with few or no holidays. The survey also showed that more than 2.5 million small business owners across the UK haven’t had a single sick day in the last 3 years.

Yorkshire Bank East Region director, Richard Norrington, says: “North East small business owners have invested their own money and passion in their company, so they will fight through the coughs and colds which may keep others at home under the duvet.

“When the bottom line is that the success of your business rests on you, there is a massive motivation to keep going when a regular employee might not.”

Small business owners were also found to be working significantly longer hours, with two thirds putting in more than 50 hours, far more than the UK average working week of 39.1 hours.

Richard Norrington adds: “During a tough period for the economy, where the immediate future has been unclear, taking on, or even just keeping, staff has been difficult for small businesses.

“Owners, who often don’t draw much of a salary or pay themselves overtime, are rolling up their sleeves and working extended hours to ensure their customers are looked after and their businesses survive.”

Only one out of every ten small business owners in the North East took no time off last year, while more than a third took fewer than 15 days. 75% of small business owners took fewer days off than their statutory 28 days entitlement.

Richard is now encouraging small business owners to recognise the importance of investing time in mental, physical and social well-being, which can be as valuable as cash is to your business.

He said: “It is good that the need to spend more time with those closest to them and for themselves is recognised. But knowing how to achieve that is more difficult.

“Talking to advisers and experts, people who can help you work smarter – using tools to reduce some of the administration, such as our Small Business Hub, or make tasks simpler, can add real value. It could be something as straightforward as banking online, or over the phone that frees up some time to relax, rest and recuperate.”

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