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Sterling has today picked up sharply after weeks and weeks of pressure and selling by investors. This comes just ahead of the MPC meeting to decide their next move on UK base rates and until just a...
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Tuesday 19th August 2008
News that 42% of small business owners will not have time to take a holiday this year has set the alarm bells ringing as pressure on the smaller end of the business market continues to mount. While the main reason quoted was ‘too much work’ this can be translated as a battle to keep many businesses afloat in the current downturn.
As money becomes ever tighter we are seeing more and more business owners working in excess of 50 hours a week for very little financial return. The battle to stay afloat has been ongoing for nearly 12 months now and while some would have sought outside financial assistance to tide things over in the short term, this option has been taken away by the credit crunch.
Those who argue that running a small business is a great life need to see the flipside of the coin and the grass roots effort which goes in behind the scenes. A reduced social life, longer and longer hours and reducing financial rewards are the more common factors at the moment as life in the small business sector becomes harder and harder. Would you like to work extra hours for less income? |
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