To compound the issue, over half (54%) of manufacturing SME leaders feel it has become harder since starting their business for them to see their children, with 51% also having missed a special occasion and 69 per cent having missed or cancelled a holiday or mini-break.
The research, released by independent SME funding partner Ultimate Finance, highlights a worrying trend for small business owners in the manufacturing 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, business owners 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.