One in five SME owners working an extra three hours daily

New research from Aldermore Bank PLC reveals that one in five (21%) SME owners are working an additional three hours daily on average to manage the impact of the COVID-19 pandemic on their business.

Many SME owners reported that longer working hours meant they had to make personal sacrifices, such as reducing time spent relaxing (37%), quality time with family (32%), and exercising (20%).

43% of SME owners described themselves as being “stressed or anxious” due to the pandemic.

The main causes of the increased time SME directors spent working included: spending more time serving existing customers (27%), working to reduce anxiety about the business’s future (21%) and pursuing more new business opportunities (19%).

Taken from Aldermore Bank PLC , Press Release