Is running your small business threatening your health?
A worrying number of small business owners are suffering health issues due to the pressures of running their company, according to new research.
With long working hours, late payment and economic uncertainty putting pressure on small business owners, it’s perhaps not surprising that 1.3 million of those running the UK’s smallest businesses are suffering as a result.
The survey, conducted by Opinium for Bizdaq, revealed that small business owners are working thirteen hours a week more than the UK average of 37 hours.
A staggering 370,000 small business owners work more than 60 hours a week and as many as 94,000 owners work more than 80 hours in a week. That’s almost half of the week spent working.
And, these long working hours have negatively impacted the health of 28% of small business owners, with 660,000 of those owners reporting a negative impact on their mental health.
But, the repercussions don’t stop there. One in five (18%) small business owners said that their business ownership negatively impacts their family too.
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As a result, Sean Mallon, CEO of Bizdaq, has called on the new small business minister Margot James to provide support for small business owners.
He said: “The fact that so many small business owners are struggling is astonishing and really shows the need for the government to do more to support the backbone of the British economy. Now more than ever, the UK needs strong small businesses.
“The abolishment of Business Link and the regional adviser program by the Coalition government in 2010 left a vacuum in small enterprise in the UK. Where small business owners previously felt the benefits of having a local support network, there are currently no services where owners can turn to when looking for support. I would call upon the new small business minister Margot James to prioritise the re-establishment of business support on a local level.”
Has running your business ever negatively impacted your health? Do you think government support will help? Please share your thoughts in the comments below.