A third of small businesses can’t take time off for a proper holiday
Small business owners across the UK are facing a harsh reality – many are too overworked and financially stretched to take a much-needed holiday, potentially pushing themselves to the brink of burnout. According to new research from InsureandGo, a significant portion of the UK’s 5.51 million small business owners are missing out on holidays to keep their businesses running, highlighting the challenges of maintaining a healthy work-life balance.
At a time when Novuna Business Finance data reveals that the percentage of small businesses predicting growth for the three months ahead has fallen back to 33% – with 82% claiming business worries keep them awake at night – the new InsureandGo research explored whether small business owners were able to look after their health and wellbeing by having decent family breaks or a holiday abroad.
The InsureandGo data found that more than one in three (35%) entrepreneurs have not been able to take a proper two-week holiday, citing financial constraints and operational challenges as major barriers. Even a short escape is a luxury for many. A staggering 18% of small business owners admitted they haven’t taken an overseas holiday for years, while nearly one in four (24%) opt for shorter breaks, squeezing in a long weekend or a quick city trip to minimise time away from work.
Even staying within the UK doesn’t seem to ease the pressure, with some feeling they must remain constantly available, 15% of business owners choosing to holiday in the UK so they can return to work quickly if needed. Shockingly, 7% don’t take holidays at all—sending their families away while they remain at home to oversee business operations.
The top reasons why so many entrepreneurs feel unable to step away from their work:
· 43% say they simply can’t afford the financial hit of taking two weeks off.
· 24% admit they wouldn’t be able to fully switch off, expecting to be contacted about work issues.
· 22% feel even more stressed about their business when they are away than when they are working.
· 21% worry about the risk of illness or injury that could take them out of action for an extended period.
· 14% believe there is no one capable of managing their business in their absence.
Garry Nelson, head of corporate affairs at InsureandGo commented: “Small business owners are the backbone of the UK economy, but outside work they are parents and partners like everyone else – and it is great concern that business pressures seem to be preventing them from enjoying holidays with their families.