Australian small business owners sacrifice wellbeing for work
Research has revealed that Australian small business owners are sacrificing their wellbeing to make a success of their ventures.
A new YouGov study of small businesses in Australia, commissioned by small business lender Prospa, has found that 54 per cent of small business owners spend 6-7 days a week on their business, with one in four working seven days a week.
Even when not at work, small business owners continued to think about work, with almost three-quarters agreeing that concerns around their business prevented them from relaxing during the holiday period.
Overall, nine in ten small business owners felt distracted by work in other areas of their life, with nearly two-thirds reporting that it affected their sleep and four in five admitting that at least occasionally they missed out on quality time with their family.
The report also pointed out that small business owners below the age of 50 felt the pressure more than their older counterparts. They faced a greater struggle to relax during the holidays and felt that work affected their dating lives.
However, regardless of age, eight in 10 small business owners said that at least some of their business worries are related to cash flow.
“I’ve been a small business owner and I’ve lived this. Concerns about cash flow during the holiday period can create a great deal of stress and distracts from spending quality time with family and friends,” Prospa joint CEO Beau Bertoli said.
“Small business owners make big sacrifices to build a better future for their families. Managing a small business takes its toll, and it can be difficult to switch off. We know this and offer solutions like simple access to finance and no repayments until the new year, so small business owners can actually get a break.”