Released Feb. 18, 2008
STILLWATER, Okla. -- Some people dream of tropical beaches, fairy tales with happy endings or princes on white horses, but a recent survey shows many small-business entrepreneurs dream of their work.
According to the Staples National Small-Business Survey, more than half of small-business professionals say work has become a part of their dreams. And those owners are willing to work to see that dream achieved. More than 60 percent work well over the 40-hour week with 20 percent working 80 hour weeks.
Glenn Muske, Oklahoma State University Cooperative Extension Service interim associate dean, assistant director, family and consumer sciences, said many small business owners are putting in long hours including working during their weekends, nights and vacations.
“With all the extra time spent at work, there is no wonder why so many people dream about work. They are working harder than ever to make their business dreams come true,” he said.
The survey reached more than 300 small businesses with no more than 20 employees and was conducted by Staples, Inc. It investigated what is causing the need to work as well as the barriers keeping Americans from taking pleasure in their free time.
Results disclosed the large stake of the owner in the firm and fewer employees to help with tasks as the top reasons why so many hours are being worked. Nearly 70 percent admitted they do not have a written business plan.
Muske said the survey reveled that slightly more than two-thirds of owners feel continuously challenged by not having enough time to get work completed.
“Business owners need to take advantage of effective time management strategies to help alleviate the load of work,” he said.
Additional findings of the survey include:
- 72 percent say they make business calls while driving and nearly 40 percent get ideas while driving in the car;
- More than 38 percent cannot remember the last time they took a vacation;
- If there was a choice, approximately 52 percent said they would accept comparable business results in 2008 if they could have twice as much free time, where 48 percent would work more hours if that would double the company’s income;
- New Year’s resolutions were made by 52 percent of owners for their businesses and of those, 58 percent said they resolve to increase business while only 21 percent said they want more time off.
Muske said the OCES is able to help entrepreneurs and small business owners take back some time through educational materials and workshops. For more information contact your local county Extension educator.
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Contact: Katie L. Reim, (405) 744-6792, katie.reim@okstate.edu
