New research by online small-business lender OnDeck Australia reveals that only 43 per cent of small-business owners take at least four weeks of leave annually. In detail 34 per cent of small-business owners take less than four weeks of leave each year, a little over 25 per cent only take two weeks or less leave each year, and 14 per cent do not even remember the last time they had a holiday.
The survey also noted that when small-business owners do take leave, many find it hard to decouple from the business. In fact, 77 per cent still think about their business when on holiday and one in five would check in with the business regularly while on leave.
“OnDeck research suggests many small-business owners could be in serious risk of burnout by not taking sufficient breaks from running their enterprise,” Jerry Yohananov, CFO of OnDeck Australia, said. “Research confirms that employees tend to be more productive after taking annual leave and are less likely to require sick leave, and many employers actively encourage their staff to use their leave entitlements. Yet small-business owners are not allowing themselves the same break from the businesses that their employees benefit from.”
In addressing the work-life imbalance among small-business owners, many shared the sentiment that additional business funding would provide the means to take a holiday. Two-thirds, 66 per cent, say that additional funds would help them feel more confident for the business to handle any unforeseen costs during their absence, 31 per cent say that it would help pay for additional or temporary staff, 20 per cent say it would help them pay for the services of an interim manager to step into the owner’s role while they’re away, and seven per cent say it would be helpful for other important expesnes.
“I would encourage all small businesses to take regular breaks from their business to recharge, re-energise, and gain a fresh perspective,” Yohananov said. Talking about loans from financial services providers such as his own that take as little as one to two hours for processing and approval, Yohananov said they allow small-business owners an opportunity to take spontaneous breaks – even if it’s just for a week or two – enabling them to take on a temp or other support staff, or providing peace of mind that funds are on hand if unexpected expenses arise in the owner’s absence.
