Business reality? Entrepreneurs work an average 50.5 hours a week
"Burden" of running a business is said to be negatively affecting the health of many UK entrepreneurs, particularly with regards to their mental health
The burden of running a business is negatively affecting the health of 1.3 million entrepreneurs, according to Bizdaq in its latest report.
The survey of 301 small business owners revealed that entrepreneurs are working an average of 50.5 hours per week, compared to the UK average of 37 hours.
Using the figures as a representation of the UK's business community, Bizdaq estimates that some 94,000 enterprise owners are working 80 hour weeks while some 660,000 entrepreneurs are having their mental health negatively affected because of poor work/life balance.
Business ownership was most likely to be a “burden” in the East Midlands with 34% of respondents saying their health was affected, while business owners in the South East were found to be the least affected (8%).
Entrepreneurs were also found to be feeling the effect of business ownership on their family life.
87% of business owners with children under the age of 18 said they were unable to take a holiday this year due to business commitments while 18% actually reported that their business as “having a negative impact on family life.”
Sean Mallon, CEO of Bizdaq, said
“The fact that so many small business owners are struggling is astonishing and really shows the need for the government to do more to support the backbone of the British economy. Now more than ever, the UK needs strong small businesses.”
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