No summer holiday for UK small businesses

Schools may be out for summer, but for many of the UK's small business owners holidays are becoming a distant dream.

New research from Alliance and Leicester Commercial Bank reveals entrepreneurs are taking less time off than they did three years ago, and for those who do manage to get away, there are blurred boundaries between the beach and the boardroom.

The research reveals one in ten (10%) of entrepreneurs have sacrificed their holidays completely for their business, no longer taking any annual leave at all.

Four out of 10 (41%) say they take less time off since setting up on their own, and almost a third (32%) say they take fewer holidays now than they did three years ago.

For those entrepreneurs who do manage to take a summer holiday, it is unlikely they will be able to completely switch off to make the most of a relaxing break.

Nearly three quarters (72%) of those surveyed keep in touch with the office when they are on holiday, mainly using mobile phones, lap tops and Blackberry devices.

Two thirds (64%) spend precious holiday time agonising about their business and almost a third (31%) admit their worrying negatively affects their break.

Business owners in the West Midlands were the most likely to fret, with almost three quarters (72%) of those polled from the region admitting they worried about their business while on holiday.

Preparing to take time off is also a concern for SMEs with over a fifth (22%) of small business owners polled claiming it is difficult to find appropriate cover and nearly half (45%) saying it is expensive.

Adding to the financial burden, a new EU agreement now means business owners must give equal treatment to temporary and permanent staff, incorporating pay, holidays and other working conditions after only 12 weeks in a job.

Steve Jennings, Director of Business Banking at Alliance and Leicester Commercial Bank comments: "It is understandable that business owners feel the need to be around 100 per cent of the time to keep their business on track, not only to ensure the success of their business but also to cut back on costs.

"However, it is important to have a break and by not taking time out, business owners run the risk of being less efficient - which could cause more harm than good in the long-run.

"For many business owners, worrying about their businesses' finances when they take a holiday often means they avoid taking time out.

However, whilst they may not be able to be completely in control of what is happening in the office if they do take a holiday, they can rest safe in the knowledge that they have a variety of ways of being able to access their businesses finances.

Having the convenience of mobile phone banking or internet banking to keep up to date with their finances can take away any unnecessary stress allowing them to sit back and enjoy a well earned holiday." Alliance and Leicester Commercial Bank has launched www.interest-challenge.co.uk where businesses can see how much extra interest their surplus funds could be earning.

For further information on the accounts available, small business owners should call 0800 587 0800 or visit www.alliance-leicestercommercialbank.co.uk.

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