1.3 million small business owners suffering with health issues
1.3 million small business owners are suffering health issues due to the pressures of running a business in the current climate, according to new research by business for sale marketplace Bizdaq.
Many are working an additional 13 hours per week – putting in 50.5 hours a week instead of the UK average of 37 – which is having a negative affect on their health, the report found.
A huge 660,000 felt that their business was also having an impact on their mental health and more than half a million haven’t taken a holiday to unwind since they opened their venture.
There’s also a clear North-South divide with twice as many Northern small business owners (22%) stating their health was negatively impacted than Southern business owners (11%), the report found.
The East Midlands was the most negatively impacted region with 34% of entrepreneurs saying their health was affected, while the South East came out as the least affected (only 8%).
“The fact that so many small business owners are struggling is astonishing and really shows the need for the Government to do more to support the backbone of the British economy. Now more than ever, the UK needs strong small businesses,” said Sean Mallon, CEO of Bizdaq.
On June 23 the EU Referendum saw a historic leave vote and as a result, uncertainty has ensured about a post-Brexit future. However, it seems younger business owners are feeling more confident about the future (45% of 18–34 year olds) than older business owners (only 13% of 35–54 year olds).
The research was commissioned by Bizdaq and conducted by Opinium.