A surprisingly high number of small business owners expect to be working on Christmas Day this year as they battle to stay afloat amid the cost-of-living crisis.
In a poll of 1,300 SME owners commissioned by AI-powered business account ANNA Money, 59 per cent said they will spend time working on 25 December. More than half of those plan to answer emails while a third will perform general business admin tasks such as paying wages and checking invoices.
While much of the population will will down tools from Monday 22 December until Tuesday 2 January, the study found that 45 per cent of small business owners plan to take only three days off over the festive period. Nearly three quarters attribute this reduced time off to the pressures of the cost-of-living crisis.
‘‘It’s more challenging than ever to run a profitable company, so if anyone deserves a break over the Christmas holidays, it’s SMEs,” says ANNA co CEO Boris Diakonov. “However our survey shows that many small business owners will be hard at it on the big day, sacrificing precious family time to keep their businesses up and running. As usual, I am full of admiration for these business owners, how hard they work and the huge contribution they make to our communities and economy.”
As of the beginning of 2023, the Federation of Small Businesses reported a total of 5.5 million small businesses in the UK. SMEs contribute 61 per cent of total employment with an estimated turnover of £2.4 trillion.