Due to the effect that the coronavirus pandemic is having on small and medium-sized enterprises (SMEs), 20 per cent of owners say they are working approximately three extra hours per day, according to the latest research.
In addition, 43 per cent of owners said that the pandemic caused them to feel more “stressed or anxious”, and 30 per cent said they were feeling anxious about how the upcoming months would affect their business.
Furthermore, this added stress and additional working hours meant it reduced their time spent with family, exercising or relaxing.
Experiencing an uneven balance between life and work can tire people out and disrupt their performance, which can ultimately lead to feelings of depression or develop into a mental health disorder.
Additionally, 16 per cent of SME directors said they obtained added stress as working from home made it harder for them to evenly balance life and work.
These directors stated that the following reasons influenced their decision to take on more hours:

• To decrease concerns about the prospect of their business.
• To spend additional time tending to existing customers.
• To pursue new opportunities.

Tim Boag, Group Managing Director at Aldermore Bank, said: “While it’s easy to assess the financial health of a business by looking through financial statements, it can be much harder to determine the mental wellbeing of staff.
“During this financially challenging and difficult period, director burnout is now a real risk for many overworked SME owners, so it’s vital that business owners and their employees take some time out and maintain a healthy work-life relationship.
“That’s why we’ve launched our mental health guide to help support SME owners as part of our ‘Small But Mighty Business’ campaign.”
On a more positive note, around 30 per cent of SME owners and directors were confident that their business will persevere.
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