New research from Opus Energy reveals SME owners in the UK are at breaking point, with 76 per cent of SME owners losing sleep over their business. The other main reasons cited for lack of shut-eye include company finances and costs (37 per cent), followed by work/ life balance (27 per cent) and finally attracting customers (24 per cent) all contributing to the loss of sleep.
The effects of running a business are also having a knock-on effect to SME owner’s home lives, with four in five (79 per cent) making personal sacrifices for the sake of the business over the past 12 months. Over a third state, they have sacrificed personal time (36 per cent), 31 per cent have reduced their holidays and another 29 per cent have gone without pay. In fact, 23% of SME owners said they worked even when on holiday, with a further 14 per cent saying they don’t take any holidays at all.
A staggering 94 per cent of millennials said they would make a personal sacrifice for the sake of their business compared to their older counterparts (73 per cent for over 45-year-olds).  It is hardly surprising, therefore, that over one in three regret starting their business, with profitability, time and effort, and their investment being damaging to time spent with family and friends.
Nikki Flanders, COO of Opus Energy commented: “Considering the difficult trading conditions businesses of all sizes have experienced recently, it’s not surprising that SMEs have needed to make particularly hard sacrifices over the past 12 months. However, the fact that small business owners are jeopardising their well-being consistently is a worrying sign. We rely on them to drive the economy, so if they’re struggling, we all will.”