London home to UK’s hardest working business owners
Micro business owners are working an average of 52 hours a week, according to new research revealed today. That’s nearly 63% longer than the average Brit’s working week.
The research, commissioned by Moneypenny, the market-leading telephone answering specialist, found that entrepreneurs in London were working the longest week at 61 hours compared to those in Scotland who were working an average of 46.
The survey of 2,000 micro business owners also showed that business owners in the construction industry are the hardest working, managing to work 62 hours a week. The trend of working long hours shows no sign of slowing down as evidenced by the recent employment statistics from the Office of National Statistics which show a 0.3% increase in hours worked in the last three months alone.
The Moneypenny survey results highlight the commitment and investment micro business owners are making in order to make their businesses a success. Microbusiness owners are in a virtuous cycle when it comes to time and money, as 60% state that they would prefer to have more money than time. The results show that business owners are clearly willing to invest personal time in order to reap the long-term benefit of having more money.
Ed Reeves, co-founder of Moneypenny said: “These results show the hard work and dedication being invested by micro business owners. Being the owner and operator of a micro business means taking on multiple roles and being everything to every customer. Many micro business owners are both time and cash-strapped, they need to make the most of every day because the amount of time being squeeze into the working week is enormous.
“Choosing how much time to invest in your business can sometimes be a tough decision for business owners, however there are tools available to alleviate some of the pressure and ensure that they can be flexible about the work they leave behind at the end of the day. It’s possible to own a small company and have a healthy work life balance, with all the reassurance that they’re not missing out on valuable business opportunities.”
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