Local heroes

Small business leaders elevated entrepreneurship to almost heroic proportions through the dedication and sacrifice they made to keep their businesses afloat during 2009.

 According to a recent report by Hiscox:

 One in five SME bosses invested on average £17,000 of their own savings in their business last year

  • Over a third cut their own salaries to reduce operating costs and improve cashflow, while only a tenth cut the salaries of their senior staff
  • And a third increased their working hours by on average 12.5 hours a week, with one in ten working over 50 hours a week to keep their businesses afloat

And for many there was a personal cost as well:

38% have suffered from stress

  • 24% had times when they were unable to sleep through worry
  • 13% have seen their marriages suffer

 Let’s hope that this year will prove to be kinder and reward these business leaders for their commitment and sacrifice.

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