Four in Ten Entrepreneurs Suffer Sleepless Nights
Stressed out small-business owners are feeling the brunt of the recession, with four in ten suffering from sleepless nights, research has revealed.
A survey of more than 500 small-business owners by Close Invoice Finance found that 44 per cent were having problems sleeping due to worries about the downturn. Seven in ten also said they were significantly more stressed than last year because of the tough economic climate.
“It is no surprise that so many business owners are feeling the pressure,” said Close Invoice Finance chief executive, David Thomson. “We continue to discuss the economic crisis in macro terms, ignoring the strain that managing a business through a downturn places on your personal life.”
Work Wise UK chief executive, Phil Flaxton, said that one reason for the problem was that small-business owners were typically hands-on and failed to delegate, which could put them under considerable strain.
“Look at delegating where possible to free up your own time, or try working from home one morning a week to avoid constant interruption,” he said. “Also, create a sense of involvement with staff. A weekly team briefing or catch-up will let everyone know what’s going on and can foster a team spirit. If staff feel involved in the business, people are more likely to volunteer for extra tasks and go the extra mile, and that in turn can lighten the load.
“Taking regular breaks, however small, or putting aside five minutes a day to walk around the block or listen to music could help alleviate stress symptoms, including sleeplessness,” added Flaxton. “If you don’t look after yourself, and maintain your energy levels, you will burn out. Long-term, that could be disastrous for the business.”
For more information on managing work life balance, visit the Work Wise website www.workwiseuk.org