A fifth of SME owners working extra three hours daily

New research from Aldermore Bank 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%).