Long hours, stress and a fear of giving up control has caused an increase in the UK’s five million small business owners who do not take holidays, according to Worldpay.
The research, which surveyed 500 UK small business owners, revealed that 70% of UK small business owners do not have a good enough work-life balance to take a holiday, which Worldpay has termed a ‘no-cation.’
One in five small business owners say they have not had more than a week off in at least three years, and for one in 10, a few days leave is off-limits, unless absolutely essential.
According to Worldpay, the reality of juggling things such as finance, HR, and chasing customers for payment can become overwhelming, and work-life balance is the first thing to suffer.
Dave Hobday, Worldpay’s UK Managing Director, said: “Small business owners need a holiday more than most, but worries about sales, cashflow, and customer loyalty mean they often spend summer on the shop floor instead of the sun lounger.”
Finance, cashflow and paperwork are the most time consuming, with the average small business owner spending an equivalent of 48 days per year on admin tasks, while over 40% average a six or seven day week, just to stay afloat.
Hobday added: “Operational tasks are a fact of life, but there’s something wrong if they start becoming a barrier to growth, prosperity and happiness. Business owners need to find ways to take back control of their information to become more efficient, make smarter decisions, and get that well-earned break.”