Company heads 'do 50-hour weeks'

British entrepreneurs are working 50-hour weeks and several are taking less than the UK statutory holiday minimum, according to a survey.

A Bank of Scotland survey of more than 1,000 small and medium-sized firms found entrepreneurs were working three hours a week more than last year.

A further 26% think they will work even longer because of the economic climate.

Entrepreneurs in Scotland worked the longest hours, putting in an average 51.5 hours a week.

No rest

Taking on the burden of running a business means several small business owners are neglecting their holidays and opting to spend more time working on their business sheets, according to the survey.

More than seven in 10 take less than 20 days off a year, the statutory requirement for employees. Meanwhile, 26% take less than 10 days and almost a quarter (24%) will not even take a full week's holiday this year.

For those whose businesses are enjoying some success, the working week is even more stressful. Small business managers whose firms are growing at more than 10% a year clock up an average 52.3 hours per week, the survey said.

There also appears to be a North-South divide. While Scottish entrepreneurs lead the league of extended working hours, small business managers in the South East work an average of 47.2 hours a week in contrast.

The survey found that 71% of bosses claim to be stressed, up from 54% last year.

Peter Wood, of Bank of Scotland Business Banking, said it was unsurprising entrepreneurs were working such long hours to make their firms a success.

But he said large amounts of time were spent simply dealing with administration and regulation.

"If we can create an environment for small businesses in Britain that helps small and medium-sized enterprises (SMEs) work smarter by allowing them to get on with the job of running their businesses, then we will continue to see SMEs grow and prosper," he said.