Majority of Small Business Owners Lack Work-Life Balance
One in five entrepreneurs haven’t had more than a week off in the past three years with many struggling to cope with daily operational tasks
The majority (70%) of the UK’s small business owners lack work-life balance, with a fifth admitting that they have not had more than a week off in at least three years.
One in 10 entrepreneurs have even said that a few days holiday is not possible unless “absolutely essential”.
The findings came from research by Worldpay which has revealed that many small businesses struggle to balance the daily running of the business alongside operational tasks and paperwork; 40% of small business owners admitted that they spent six or seven days a week working “just to stay a float.”
Finance and cashflow management were named as the top entrepreneur ‘headaches’ with small business owners spending an average 48 days annually on financial paperwork , a third also admitted that they had no time to analyse data about their business and its performance.
WordpayUK managing director, Dave Hobday, commented: “Small business owners need a holiday more than most, but worries about sales, cashflow, and customer loyalty mean they often spend summer on the shop floor instead of the sun lounger.
“Operational tasks are a fact of life, but there’s something wrong if they start becoming a barrier to growth, prosperity and happiness. Business owners need to find ways to take back control of their information to become more efficient, make smarter decisions, and get that well-earned break.”