Are you one of them?
SME owners in the UK work an average of 2,366 hours per year in order to make their business a success – that’s according to new research by Opus Energy.
It’s been discovered that, on average, small business owners work 45.5 hours per week, and that more than half work either six or seven days per week. If an average full-time working week comprises 37.5 hours, this means that the average small business owner works a stunning total of 17 full days of overtime per year.
Millenials bucking stereotypes
In findings that may raise an eyebrow, the research also reveals that millennial business owners work the longest hours on average. Defying the unfair labels of their generation, 18-34 year old entrepreneurs work an average of 49.4 hours per week, which equates to 25 days’ overtime per year.
In contrast, small business owners aged 35-44 claim to work an average of 46.4 hours per week, working out as 19 days overtime per year. 45-54 year old entrepreneurs were actually found to work the least, putting in an average of 45.3 hours per week or 16 days’ overtime a year.
No days off
You’d be forgiven for thinking that all that overtime must be balanced out by a generous helping of much-needed annual leave. But in fact, Opus Energy’s research also revealed that even with the extensive hours that entrepreneurs put into their business, holiday is a luxury that some can’t afford. 14% percent of all entrepreneurs say that they don’t take any time off while a quarter (23%) claim that they have to work even when on holiday.
Nikki Flanders, Chief Operating Officer at Opus Energy, commented:
“It’s worrying to think that entrepreneurs are having to sacrifice such a vast amount of time in order to make their businesses successful. Not only do British entrepreneurs risk burning out, but we also risk potential business owners putting their start-up aspirations on hold, so as not to jeopardise their personal lives. SMEs are vital to our economy and we must ensure that entrepreneurs have the support required to succeed.”
Where does XLN come in?
Since 2002, we at XLN have been fighting the utility giants to offer more than 400,000 small businesses a better deal on phone, broadband, energy, card processing and Wi-Fi. We’ve changed the game with a unique service culture, and our low price guarantee. We support small businesses exclusively: the companies that make up 99.3% of the private sector and power our economy. So no matter how many hours you’re working, XLN always has your back.