Many small business owners are working up to 80 hours a week according to a recent survey.
Scottish Pacific’s SME Growth Index surveyed 1200 small businesses and found that 40 percent averaged between 60 and 80 hours.
One third of business owners said they were working late into the night answering customer enquiries via email.
The Banking Royal Commission has also had an impact on owners, with 15 per cent indicating they would be seeking an alternative lender in the next six months
The survey showed only one in 10 businesses are happy using property as security and 20 per cent said they would prefer to use unsecured loans.
Head of debtor finance at Scottish Pacific Wayne Smith said small businesses with real estate assets could still find affordable assets.
However possible real estate value declines would make this more challenging in the future.
“If property prices are declining, loans will be harder to get.”
