GEC NEWS WIREPassion Drives the World’s Entrepreneurs to Contribute More than AED 30.5tn (US$ 8.3tn) to the Global After-Hours Economy
The world’s small & medium business owners have contributed AED 30.5 (US$ 8.3) trillion to the global economy by working beyond the standard industry hours for their businesses, according to a new global survey by Sage.
But this contribution comes at a price. Nearly half (46%) of all global business owners work over 40 hours a week. German entrepreneurs are working particularly hard, with 57% working more than 40 hours every week. Australian business owners are achieving a better work life balance, with 31% saying they are working more than 40 hours a week.
Over a third (36%) of those surveyed say they have sacrificed family time for their businesses. That figure was particularly high in South Africa, where 44% of business owners have chosen their work over their family. Globally, 44% of business owners say that their dedication to their enterprise has affected their relationships.
Stephen Kelly, CEO of Sage comments: ‘We know it takes hard work and human sacrifice to turn a dream business idea into a way of life. We should do all we can to support these heroes and recognise all those hours of hard work they are putting in after the rest of the world has gone home’.
‘SMEs are quite numerous in Dubai. Considering this environment and trajectories, support infrastructure needs to be developed for SMEs. This is one of our priorities at Sage,’ added Mr. Reggie Fernandes, Regional Director for Sage ME
