Managers 'clocking up 50-hour week'
Updated on 18 August 2008
British entrepreneurs are clocking up 50 hour working weeks and many are unlikely to take a full week's holiday this year, a new survey reveals.
Small business managers are on average working a 50 hour week, almost three hours more than than this time last year, according to a survey by the Bank of Scotland Business Banking.
The research into the work-life balance culture of Britain's small business managers shows that a quarter of entrepreneurs believe they will have to work longer hours for the remainder of the year as a result of the economic climate.
These time pressures mean a quarter of small business owners are unlikely to take a full week's holiday this year. A quarter take less than ten days holiday a year, while 72% will take less than 20 days, the statutory minimum for UK employees.
Peter Wood, head of strategy and products at Bank of Scotland Business Banking, said: "Owning and running a small business is an extremely time-consuming but ultimately rewarding experience.
"Given that the stakes are so high, it comes as no surprise that Britain's entrepreneurs are burning the midnight oil to try and make a success of their business.
"Unfortunately, however, there is a clear downside to the pursuit of success for small business owners with increased stress levels."
Seven in 10 owners claim to feel stressed by running and managing their business, compared to just over half last year.
Mr Wood said: "We know, from our own experience of working with small business, that one of the biggest problems they face is the amount of time spent dealing with administration and regulation."
Small businesses in Scotland work the longest week clocking up an average of 52 hours compared to entrepreneurs in the South East who work an average of 47 hours a week.
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