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The definitive business advent calendar: 6 December – A waste of money…

2 min read

05 December 2015

Former editor

Financing your entrepreneurial dreams takes centre stage in our latest business advent calendar offering, which is taking each day in the December run up to Christmas and building a story off the back of it.

So far this month we’ve detailed Mark Zuckerberg’s annual $1 salary, explained why the rule of three is so powerful and explored the claim that you only need to work four hours a week to be successful.

Next up is the number six, and for this day it relates to the £6,000 figure new research has suggested entrepreneurs and business builders without an office spend each year between meetings.

That’s right, at an average of £24 per working day! The Clubhouse research found entrepreneurs spend an average of £700 a week – 16 per cent of which goes towards passing the time between meetings.

Financing food, drink, hotel rooms, newspapers, taxis and other costs, it appears the life of a company owner means their plastic is regularly being abused.

We all know that getting out there for a little face time with existing and potential customers is a big part of making a success of your venture, but the £6,000 figure is surely enough to make entrepreneurs throughout the land shudder – as well as their significant other.

Read more about expenses:

So, how does an entrepreneur’s weekly shop go? According to The Clubhouse, it averages out as the following.

Overnight accommodation: £382.84
Dinner: £132.58
Taxis: £58.04
Lunch: £49.14
Breakfast: £20.72
Snacks: £20.50
Coffee: £16.06
Teas: £14.00
Newspapers/magazines: £7.40

Total: £701.28

On top of the costs, entrepreneurs are apparently wasting up to three hours a week of productivity in between meetings. It’s news that will surely have bosses at the likes of Pret A Manger, Starbucks and Costa licking their lips.

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