Small business owners are working 13 hours a week more than the UK average – with almost 30% of those jeopardising their health, a survey has warned.
Bosses of SMEs typically work 50.5 hours per week, compared to the UK average of 37 hours, sparking concerns that many individuals could face physical and mental health problems.
The research, conducted by Opinium, found that 1.3 million small business owners are suffering health issues due to the pressures of running a small business, with 660,000 of those owners feeling that the business has a negative impact on their mental health.
Small business owners were found to be working an additional 13 hours extra per week (50 hours per week) compared to the UK average (37 hours), with 370,000 small business owners working 60+ hours a week and as many as 94,000 owners working 80+ hour weeks.
Business ownership was most likely to be a burden in the North of England, with twice as many Northern small business owners (22%) responding that their health was negatively impacted than Southern business owners (11%).
The East Midlands was found to be the most negatively impacted region, with 34% of owners saying their health was affected, whilst the South East was the least affected with only 8%.
Families are feeling the effect of small business ownership too, with 87% of small business owners with children under the age of 18 not planning to take their children on holiday this year. This lack of family time isn’t just felt during the summer break though, as 18% of small business owners feel their business negatively affects their family.
Sean Mallon, CEO of Bizdaq, which commissioned the post, 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.”