Biz Owners Working More, Vacationing Less
Survey Of 347 Small Business Owners
Small business owners are working more hours, extending their workweeks and taking less vacation than they were five years ago, according to the 2013 Sage Reinvention of Small Business Study. The survey was conducted in June and surveyed 347 small business owners who have fewer than 100 employees. The survey reported that 37% of small business owners are working an additional 11 or more hours per week, compared to 24% of respondents who reported the same in the 2012 survey. In addition, 68% are working both longer days and more weekends.
"The latest survey reveals the true reality that many small business owners are facing: that they continue to show resilience in the face of an anemic recovery, all the while increasing their management acumen to ensure their businesses are successful," said Connie Certusi, executive vice president and general manager of Sage Small Business Solutions.
Small business owners are also vacationing less, with 43% responding that they have taken significantly or somewhat less downtime over the past three years. Nicole McNamee, director of new business development at POP Solutions (asi/359180), believes that the ad specialty market is one sector that bucks the vacation trend because it lends itself to working remotely. "I have taken off five weeks of vacation so far this year, but I check in and work for at least one hour per day on vacation, "she says. "Last year with the birth of my second child, I took 'off' five months, yet still worked every day, even from another country at one point."
McNamee also adds that owners have a choice whether or not to work additional hours. "Depending on their years in the business and client base, they may have to work longer hours initially or at certain times of year, but it does ultimately pay off," she says. "My clients generally know when I am on vacation, but they also know I will get back to them regardless, or someone on my team will answer their questions for me."