Small business entrepreneurs work half a billion hours annually
Small business entrepreneurs in the UK are chalking up more than half a billion man hours worth £1,046b to the UK economy every year, a study conducted for Hiscox has revealed.
Dubbed the UK’s ‘EDP’ measure – or Entrepreneurial Domestic Product – this represents every small business owner in the UK clocking up nearly 2,500 hours of blood, sweat and tears every year.
On average, this equates annually to nearly 700 hours more than an employee working a standard 37.5 hour week. The EDP measure also benchmarks that more than a third of small business owners put in over 50 hours a week (37%), with 14% actually clocking up more than 60 hours every week.
A release from Hiscox
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