Financial services SMEs lacking support necessary to achieve a healthy work-life balance
Almost 90% of financial services business owners admit that they worry their work-life balance is negatively impacting relationships with family and friends, research today reveals.
To compound the issue, almost half (45%) of financial services SME leaders report that they’ve struggled to spend enough time with their children since starting their business. 38 per cent have also missed a special occasion and 57 per cent having missed or cancelled a holiday or mini-break.
The research, released today by independent SME funding partner Ultimate Finance, highlights a worrying trend for small business owners in the financial services industry feeling that they don’t have the necessary support available to achieve a healthy work-life balance.
Steve Noble, Chief Operating Officer at Ultimate Finance, said:
“Wellbeing is often in the headlines, but the focus is rarely on small business owners. Given so few of them feel that they have the capacity to achieve a healthy work-life balance, there is clear evidence that more support is needed. Central legislation to ease the bureaucracy of running a business, national and local investment in support services for SMEs and more readily available advice on where to turn when things are getting too much are all examples of ways that government and the broader business community can come together to tackle this challenge.
“With the necessary support in place, financial services leaders can find the balance between striving for success in their professional lives and also enjoying well-earned quality time with friends and family. It’s also then more likely to positively impact employees too, as a leader that understands the importance of wellbeing can put measures in place to ensure the workforce is enjoying a healthy work-life balance too.”
This study shows the important role wellbeing has in a resilient business. This is why Ultimate Finance has created an information hub with insight and guidance on a range of topics to help companies that are looking to build their resilience.
For further information, please visit https://www.ultimatefinance.co.uk/resilience