Nearly one third of small business operators are working more than 50 hours a week to keep their businesses running, a new survey reveals.
The Business Owner/RACV Business Insurance Small Business Issues Survey, which was made available online to businesses with less than 100 staff, also finds 12% of business owners clocking between 61 and 70 hours.
Only 10% say they’re working less than 20 hours, while just 14.5% say they are working between 31 and 40 hours.
But the report finds self-made workers are happier, with 75% of those surveyed saying they have a better work and social life balance after going into business for themselves, while 48% of respondents claimed this was the reason for starting a new enterprise.
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Some of the main reasons stated for starting a new business include wanting to make money, being taken for granted by an employer, and wanting to create a service they felt was not being provided well enough.
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