Small firm bosses save 120 hours on travel annually

Date: 11th November 2008

Bosses of small to medium enterprises (SMEs) save as many as 120 hours per year in commuting time, according to new research.

An investigation by Abbey found that running your own business start-up can save the equivalent of three working weeks every year in travel time and costs.

Divided up over the course of the year, this equates to savings of around two and half hours a week.

Paula Ickinger, a spokeswoman for Abbey's business banking arm, said: "The considerable time saving enables SME bosses to invest more time into their business and also their personal lives.

"The result, in many cases, is an improved standard of living."

One consideration when launching a business start-up is self-assessment tax returns, which an accountant can provide invaluable advice with.

Earlier this week, the Centre for Economics and Business Research called for a five per cent reduction in the rate of VAT.