One in Three Small Business Owners Forced to Take Second Jobs, Report Finds

Enterprise Nation, Newable and the Association of Business Mentors released the Mentoring Matters: Four Years On report, highlighting that about one-third of UK small business owners have taken a second job to survive. Nearly half of these entrepreneurs began their ventures as side projects, and they now work an average of 45 hours per one outlet on their companies in addition to other employment. The survey also found that 57% have never had a mentor, a figure that rises to 63% among sole traders.

High-street firms are especially strained, with 77% delaying growth plans and 42% cutting customer-facing staff, while business rates and VAT are cited as major pressures. The report suggests that upcoming budget measures could include expanded business-rates relief to ease the burden on struggling shops.