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Business loan for owners in need of weekend rest
Reported on Mon, 24 Jul 2006
Owner-managers of small to medium-sized enterprises (SMEs) are working more hours in the week to keep their weekend free, but a business loan could help cover the cost of extra staff.
Entrepreneurs with smaller businesses work 24 hours more a week than the rest of the UK work force, in a bid to avoid working at the weekend, according to new statistics from Barclays.
Owner-managers are spending an average of 15 hours per week on administration and six out of ten feel employment and accounting regulations act as a barrier for doing business.
Brendan Horgan, commercial director of Barclays Business Banking, said: "Many entrepreneurs are caught in a 'regulatory trap' - too big to manage regulations on their own but not big enough to employ others to ease the burden.
"Dealing with seemingly endless red tape is often at the expense of spending time on other priorities such as business and product development."
Taking out a business loan could help SMEs to employ extra staff to help owner-managers cover their workload during the week, as well as providing extra funds for weekend staff ? keeping weekends free and weekdays manageable for owners.
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