One-third of small business owners work at least three of the six major holidays in the US. This was the finding of a survey by the direct funding platform Kabbage.
Kabbage’s new survey reveals several work/life balance issues related to the sacrifices small business owners are willing to make. The research involved surveying 400 small business owners, with 67 percent stating they expect to increase revenues by the end of the year. More than half of the small business owners interviewed said they anticipate an increase in revenue of 10 percent or higher.
The survey found that 60 percent of small business owners only take one full vacation a year, while 23 percent take less than two holidays off annually. Furthermore, when on holiday, 75 percent of small business owners continue working.
Small Business Owners Are Not Taking Holidays
In a press release about the survey, Kabbage Chief Revenue Officer Victoria Treyger spoke of the diligence and hard work small business owners put into their businesses, so much so that they’re willing to relinquish holidays and work during major vacations.
“Small businesses are the heartbeat of our economy, and they deserve an enormous amount of gratitude. These are the individuals who take service calls at midnight on Christmas Eve, work long hours and forgo what many Americans take for granted. They define hustle and motivation and go to great lengths to support themselves, their families and their communities,” Treyger commented.
As well as being willing to sacrifice vacations and spend time carrying out business during major holiday seasons, the survey found that almost half of small business owners use personal savings to pay for different elements of their business. The tendency to rely on personal funds for business budgets and requirements is particularly prevalent among younger business owners, with 75 percent of 25-34-year-olds admitting to using their own savings.
The findings of the study confirm that when it comes to running their own businesses, small business owners are driven by diligence, hard work and commitment.