UK small business owners 'work fewer hours than overseas counterparts'

Another perk to buying a small business in the UK has sprung up from the results of a recent survey conducted by Hiscox.

The research looked at 500 small businesses in six countries: the UK, Germany, France, the US, Netherlands and Spain. It found that entrepreneurs in the UK worked for an average of 37.6 hours a week, while the average was 41 hours. UK entrepreneurs also had some of the highest numbers of holiday days, with an average of 21.4 days a year, the highest rate after Germany.

While people are still finding many positives in setting up their own company or buying a business, entrepreneurs across the six countries appear to be slightly less positive about the future. Thirty-eight per cent said they were optimistic about the year ahead, compared to 48 per cent last year.

However, the report from Hiscox highlighted that there is more to running a company than the financial benefits it brings: “People set up small businesses for many reasons other than money. They value the freedom, autonomy and lifestyle changes that running their own business can bring," it read.