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SME leaders face longer hours and rising stress as workforce shrinks – Virgin Media O2

The research found 76% reported a negative impact on wellbeing and 51% said they were more stressed now compared to when they started their business.

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Research from Virgin Media O2 Business revealed small and medium sized enterprise (SME) leaders were spending an average of 10 hours a week on tasks outside their core role, as a shrinking workforce left leaders stretched. 

The research found 76% reported a negative impact on wellbeing and 51% said they were more stressed now compared to when they started their business.

Over half of SME leaders revealed they were spending more time on unfamiliar work, while 76% acted as CEO, HR manager, IT support and finance director on any given day. 

The findings showed 59% were the go-to person for problems they did not know how to solve. 

Almost all (96%) checked emails or dealt with business issues outside of normal hours, and one in four worked more than 50 hours a week. 

Just 21% had not taken two consecutive days off in the last six months.

Over a third (35%) revealed they did not have enough time, while 28% could not afford to take time off. 

A quarter said the business could not function without them, and 26% felt guilty prioritising themselves.

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Tech issues were a key cause of stress, with 89% linking tech problems to wellbeing declines. 

One in three lost sleep over tech concerns and more than half had dealt with a tech issue in the last month that caused stress, lost time or revenue. 

Cybersecurity threats, data breaches, system crashes and technical failures were cited by 79%, and 32% relied on guesswork when making tech decisions. 

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Tech downtime cost money for 37% and hit productivity for 31%.

Virgin Media O2 Business revealed its technical advisory team specialised in unified communications, WiFi, data centres, cloud and cybersecurity, aiming to help customers make informed decisions and reduce tech-related stress. 

The company said 70% of SME directors would sleep better if their tech needs were properly handled, while 76% would feel more confident with expert guidance.

Ross Pearson, head of small enterprise at Virgin Media O2 Business, said: “The pressures on the shoulders of the SME community are enormous, especially as many make difficult business decisions and are often stretched across many different areas. SME leaders have always been known for ‘wearing multiple hats’, but in today’s business landscape, the term has a new meaning. 

“The latest data from Virgin Media O2 Business reveals the toll of added responsibilities, with action needed to support leader wellbeing and mental health.

“Virgin Media O2 Business is here to act as a partner, not just a supplier for SMEs.”

Pearson added: “We work with each customer to alleviate their tech stresses and ensure they are making the right connectivity choices for their business. 

“Put simply, we act as the tech experts so SME leaders can focus on taking the next step in their growth.”

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