Inside Small Business
28th of November, 2022
Research released by small business lender OnDeck has revealed that only 43% of small business owners take at least 4 weeks of annual leave, whilst 34 % take less than 4 weeks.
“OnDeck research suggests many small-business owners could be in serious risk of burnout by not taking sufficient breaks from running their enterprise,” Jerry Yohananov, CFO of OnDeck Australia, said.
“Research confirms that employees tend to be more productive after taking annual leave and are less likely to require sick leave, and many employers actively encourage their staff to use their leave entitlements. Yet small-business owners are not allowing themselves the same break from the businesses that their employees benefit from.”
Talking about loans from financial services providers such as his own that take as little as one to two hours for processing and approval, Yohananov said they allow small-business owners an opportunity to take spontaneous breaks – even if it’s just for a week or two – enabling them to take on a temp or other support staff, or providing peace of mind that funds are on hand if unexpected expenses arise in the owner’s absence.
Read the full article here.