Many small business owners are working very long hours, but many are less stressed than when they were an employee, a new survey from MYOB reveals.
The survey says that a third of small business owners work more than 50 hours a week. About 62% of men and 46% of female small business owners work between 41-70 hours a week.
Most (88%) of the business owners had worked as a full-time employee before starting their own business.
Of this 88%, more than a third (37%) believe there is more pressure/stress in their work as a business owner when compared to life as an employee.
However more than 43% of this 88% believe the stress in their work has decreased since starting their own business.
The decrease in stress could relate to business owners being happier with the actual work they are doing.
Nearly half the business owners started the business because they wanted to do work they were passionate about.
Most (70%) are happy with their overall lifestyle. But 15% say they have experienced a serious illness over the last 12 months that had affected the operations of the business. While most (64%) kept working through, 20% temporarily shut down their business and 10% had a spouse/ partner manage the business for them.