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UK entrepreneurs work over 47 hours weekly

10/07/2007  11:06:14

 


 

Small business bosses in the UK typically work over 47 hours a week, new research has revealed.

The survey into work-life balance was conducted by Bank of Scotland Business Banking.

It showed that collectively, the UKs 1.4 million small businesses collectively work an extra 24 million working weeks each year.

The long hours did contribute to high growth rates for the business concerned. For those small firms growing at over ten per cent a year, the average working week was found to be 51 hours long.

However, those who invested too much time in their businesses did experience the deterioration of other areas of their lives, commonly poor family relationships and a lack of stress-relieving holidays.

Kevin Gillett, head of Bank of Scotland Business Banking, said: "Contrary to the belief that Britains long hours culture is hindering productivity, it appears that those entrepreneurs who invest more time in their business are experiencing higher growth.

"However, with long hours accompanying above-average stress levels, there is a clear downside to the pursuit of success for some small business owners.

"The real problem lies not so much in the long hours but in the burden of responsibilities faced by entrepreneurs trying to run a business in todays commercial environment."

Many entrepreneurs argue that complex paperwork, in areas such as tax planning and compliance with company legislation, takes up a huge proportion of their time at work.

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