How long should entrepreneurs work?
By Matthew Rock, published 1 year ago in Employment.
Do you work as hard as your entrepreneur-peers? How many hours a week is acceptable for a top entrepreneur? Is there a relationship between how hard you work and how successful your business is? All is revealed in a survey out today.
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According to a Bank of Scotland survey into work-life balance, the average UK entrepreneur puts in 50 hours' work per week. In total, that adds up to more than 31 million extra working weeks put in by small businesses across the UK.
The Bank of Scotland survey also shows a clear relationship between hours and commercial success. For those growing at over 10% a year the averageworking week is 52.3 hours
It's no wonder you're feeling the pressure. British owner-directors also don't take enough holiday (fewer than 20 days is the most common) and 71 per cent claim to be feeling stressed due to work pressures.
So how many hours are you doing? Do you agree that there's a relationship between success and hours? And what advice do you have for other entrepreneurs battling till midnight to keep their business afloat? We'd love to hear your comments (within working hours, please!).
2 comments.
Richard Parker 1 year ago.
This comes as no surprise to me at all. Running the family business during the day (usually equating to the 50 hours plus quoted in the original article), I then go home and put in another 2-3 hours into an online Lean Manufacturing educational website (www.leandeployment.com) I'm developing for the SME community. My wife has insisted that I set aside certain nights where I can actually talk to her!
Jules Burton 1 year ago.
I read your article 'How Long Should Entrepreneurs Work?' with interest - especially the hours/success ratio!! I own a nightclub which I bought as a failing business in December of last year. Business has improved significantly with a 125% increase in turnover which is still growing steadily (despite some of the most protracted and challenging trading conditions this market sector has ever had to endure). To achieve this I'm still working an average of 70 - 75 hours per week - as are my management team so yes, I would definitely agree that success has to be earned - but it's a great feeling when things go right!!! Jules Burton M.D. Dare Entertainment Ltd.