Seven in Ten small business owners stressed at work

A recent survey has unveiled that seven in ten small business owners experience stress at work. The primary stressors, according to the survey of 2,000 small business owners by Love Energy Savings, are soaring energy bills (22%) and inflation (23%).

An alarming 85% of small business owners aged 18-34 reported feeling worried at work, with over a third (37%) of all respondents indicating they were either 'extremely stressed' or 'very stressed'.

This concern persists despite a growing sense of optimism among SMEs for the coming year, buoyed by anticipated revenue increases.

On a positive note, small businesses might see some relief next year as Love Energy Savings (LES) data indicates a more than 60% decrease in business energy rates since last autumn.

However, there's uncertainty ahead as the Government’s Energy Bills Discount Scheme is slated to end in April without a successor program announced.

Phil Foster, Founder and CEO of Love Energy Savings, commented: “The survey results are a damning indictment for small business owners who have been the backbone of our economy, especially during three tumultuous years. Small businesses, crucial to our economy and communities, are often underappreciated. The recent Autumn Statement and partial reforms have done little to alleviate the stress and long working hours currently faced by the majority of business owners. The Government must prioritise small businesses more. Nevertheless, there is a glimmer of hope regarding energy bills. Businesses can now cut approximately two-thirds off their energy bills by switching their tariffs compared to last year's rates. Love Energy Savings is committed to simplifying the process for businesses to find and switch energy suppliers, prioritising their needs and helping alleviate some of this stress.”