Long hours, lack of free time all part of small business

The report surveyed 500 key decision-makers at SMEs across the UK and found that 44 per cent of small-business owners clock up more than 50 hours a week on and in their business.

According to the Office of National Statistics, businesses with fewer than 250 employees are vital to the economy, contributing more than £2 trillion in turnover and employing 44 per cent of the British workforce, and economic uncertainty amid the cost-of-living crisis is having an impact on bosses, many of whom are struggling to find ways to stay profitable without hiking prices.

The Mercedes-Benz report also found that antisocial hours are also common among small-business owners, with over a third (37 per cent) starting work before 5am, a third (35 per cent) working until 2am or later, and a quarter (27 per cent) find themselves working through the night.

Additionally, Gen Z and Millennial bosses work an average of 2.5 hours a week more than those over 55s — amounting to 116 hours extra each year.

It’s not just the early starts, late finishes and occasional all-nighters that bosses cope with. Many find themselves missing key moments like birthdays and Christmas and family events.

In fact, one in five (17 per cent) — amounting to nearly 1 million small-business bosses in the UK — will be working on Christmas Day — nearly half (43 per cent) will work Christmas Eve, and 28 per cent will work Boxing Day.

And 56 per cent will work on their own birthdays this year, while 52 per cent won’t have time off for their partner’s birthday, and 42 per cent will work during their children’s birthdays.

Small-business owners said having more time to complete daily tasks (34 per cent) was the thing that would contribute most to the success and growth of their business.

However, despite challenges, most bosses say they are coping well with the challenges, with 63 per cent saying they are managing the admin burden and 53 per cent claiming they are not phased by supply chain delays.