Small business owners are working an average of 50 hours a week to cope with the tough economic conditions, according to a survey by the Royal Bank of Scotland.
The research found that entrepreneurs are working an extra three hours per week compared with this time last year, with Britain’s 1.4 million businesses collectively putting in an extra 31.2 million working weeks each year.
‘Given that the stakes are so high, it comes as no surprise that Britain’s entrepreneurs are burning the midnight oil to try and make a success of their business,’ explained Peter Wood, head of strategy and products at the Bank of Scotland Business Banking.
‘Unfortunately, however, there is a clear downside to the pursuit of success for some small business owners with increased stress levels,’ he added.
A quarter of small business owners also revealed that they are expecting to work long hours for the rest of the year to cope with increased pressures.
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