SME owners likely to work overtime at Christmas

A new study suggests that a sizeable proportion of British small and medium-sized enterprise (SME) owners will be forced to work overtime this Christmas due to mounting tax and administrative responsibilities.

According to research carried out by business lender Ultimate Finance, almost a quarter (24 per cent) of SME owners and decision makers fear that they “won’t be home for Christmas” this year due to workload commitments.

It adds that in previous years, a further quarter of business owners have been forced to work overtime on Christmas day, whilst almost half have missed special occasions such as birthdays and important family commitments.

The research suggests that business owners are taking on too much responsibility in terms of administrative and other tasks – many of which can be outsourced elsewhere if a business seeks specialist advice and assistance.

This is particularly true when it comes to tasks such as preparing accounts, or submitting tax returns.

Steve Noble, Chief Operating Officer at Ultimate Finance, acknowledged that “the stresses and strains of running a company” are often constant.

However, he said that businesses owners needed to “find time to take off” by seeking expert advice where necessary.