Ever feel like you’re working around the clock to make your business thrive? You’re not alone. A recent study by Opus Energy found that SME owners in the UK put in an average of 2,366 hours of business overtime per year to ensure their business’ success.
On average, small business owners dedicate 45.5 hours per week to their ventures, with more than half of them working six or seven days per week. Considering a standard full-time week is 37.5 hours, this means the average small business owner clocks an astonishing 17 full days of overtime each year.
In a surprising twist, the research challenges stereotypes by revealing that millennial business owners are putting in the longest hours. Far from the presumed lackadaisical attitude associated with their generation, entrepreneurs aged 18-34 are working an average of 49.4 hours per week, translating to 25 days of overtime annually.
Contrastingly, small business owners aged 35-44 report working an average of 46.4 hours per week, equating to 19 days of overtime each year. Entrepreneurs aged 45-54 were found to work the least, with an average of 45.3 hours per week or 16 days of overtime annually.
And about those well-deserved breaks?
Opus Energy’s research paints a stark picture. Even with the extensive hours put into their businesses, some entrepreneurs can’t afford the luxury of holidays. A staggering 14% of entrepreneurs claim they take no time off, while 23% admit to working even during their vacations.
Nikki Flanders, Chief Operating Officer at Opus Energy, expressed concern, stating, “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 do we come in?
For over 20 years, Onebill has been in the arena, challenging the utility giants to provide over 85,000 small businesses with better deals on phone, broadband, and Wi-Fi. We’ve revolutionised the game with a unique service culture and our low-price guarantee. Exclusively supporting small businesses — the backbone of our economy — we’re here for you, no matter how many hours you’re putting in. Onebill always has your back.