Revealed: Small business owners lose sleep over money
Take a look
Ninety per cent of small business owners lose sleep over money, according to a new study.
KPMG Small Business Accounting have just published a report on the prevalence and frequency of sleep deprivation among small business owners that can be attributed to financial concerns.
The report takes a deeper look at what small businesses owners have done to combat this issue, the strategies that have been unsuccessful and strategies that have made significant improvements to this issue for small business owners.
For this, KPMG Small Business Accounting surveyed 250 small business owners in the UK. Very few (9.4%) reported to never have lost sleep over money! Here are some of the findings:
- over 90 per cent of small business owners reportedly lost sleep over finance worries in recent times
- for over half of them (53.6%) this is a regular concern (at least once a month)
- over 30% (31.1%) lose sleep very frequently(at least once a week or most nights)
- 65% of respondents who had tried one or more of the strategies listed in the report reported a success in improving their sleep issues
Speaking about sleeping issues, Katy Tanner, director at Robert Half, said: “Daily stress factors at the office follow us all home. While most employees have lost sleep over work, there are certain measures we can follow to reduce stress. Regular meetings, addressing issues while they’re fresh, being proactive with planning and taking regular breaks, all help us to ease workplace stress and get a better night’s sleep.
“A bad night sleep also kills workplace positivity, which has huge business implications. Employees who are burned out, frustrated or unhappy are far more prone to skip work. In contrast, well rested employees are much more committed, healthy and productive. This, in turn, has a direct impact on the bottom line. Now is the time for employees and employers to realise the importance of sleep and its impact on effectiveness and wellbeing.”