With the holiday season upon us, many brokers are undoubtedly looking forward to taking a much-needed break from work. Unfortunately, the same thing can’t be said of their clients who own small businesses.
A recent YouGov study showed that small business owners are not only putting in more hours at work, but are often still thinking about work when they’re off the clock. The research, commissioned by online lender Prospa, showed that more than half of small business owners spend six to seven days a week on their business, and one in four works a full seven days a week.
What’s more, almost three-quarters said that concerns around their business prevent them from relaxing during the holiday period, negatively affecting the quality of their sleep or the time they spend with their friends and families.
The study showed that over eight in ten small business owners said that they worry about cashflow the most, and two-thirds feel stressed during the holiday period because of cashflow problems.
“I’ve been a small business owner and I’ve lived this,” said Beu Bertoli, joint CEO at Prospa.
“Concerns about cash flow during the holiday period can create a great deal of stress and distracts from spending quality time with family and friends”
Bertoli pointed out that brokers can provide valuable support to small business owners at this time of year. “Two-thirds are stressed and distracted by cash flow during the holidays and for many different reasons,” he said.
“Brokers should talk to their clients about how their sector, location and customer habits impact cash flow during this time. With the right funding solution they can give small business owners peace of mind.”