Business owners 'working harder'

Date: 17th November 2009

Many small business owners, including people working in partnerships, have upped their hours over the past year.

A survey from Abbey and Alliance & Leicester revealed that one in three business owners are working longer hours now than they did in 2008.

One in six said that they worked for 65 or more hours a week, despite the fact that the European Working Time Directive sets a maximum working time of 47 hours.

The trend coincides with the onset of the recession, which has led to lower sales volumes and difficulties with securing credit for many businesses.

Paula Ickinger, head of business banking marketing at Abbey and Alliance & Leicester, said: "The recession is having a huge impact on small businesses in this country and many owners are sacrificing their work-life balance by working longer hours as they struggle for the survival of their business."

Recent figures from Lloyds TSB show that overall confidence levels among UK business people fell in September and October 2009.

Posted by Jacob Williams