Rather than gorging on Christmas treats, watching cheesy films and falling asleep on the couch after too much sherry, many small business owners will be using the bank holidays over the festive season to keep up with their work.
While larger firms have the capacity to employ experienced teams to cover holidays and keep everything running smoothly, SMEs often have limited resources meaning the show must go on to some extent for business leaders.
Smaller firms struggle to delegate responsibility over the Christmas period
A recent study by business lender Everline revealed that one in five small business decision makers would be clocking on for bank holidays such as Boxing Day and New Year’s Day because they were concerned about losing potential business and did not have staff members qualified enough to provide adequate cover.
Russell Gould, Managing Director at Everline, said: “Small businesses have been and continue to be the driving force behind the UK’s recovery. Their commitment to succeeding is illustrated by their plans to work over the festive period.
“However, the underlying issue is that many of these small businesses managers do not feel like they can delegate the work to their employees. While small business owners should be applauded for their dedication and hard work, it is evident that skills remain an issue and as a result, they are being forced to take on responsibility for a greater range of functions which could be delegated.”
The figures show that younger entrepreneurs aged between 18 and 34 are twice more likely to work on New Year’s Day and Christmas Day, and three times more likely to work on Boxing Day than the older generation.