Wednesday, February 28, 2024 |
FOLLOW US:

Many business owners didn’t get a break in 2022. And they are worried about 2023.

December 19, 2022

Many small-business owners haven’t taken a break in 2022 or longer, and 2023 is filled with potential hurdles. About 40% of small business owners surveyed by FreshBooks said they had not taken time off in more than a year. About half of small-business owners say taking time off stresses them out and 85% said that even when they do take time off from work, they continue to check in. It’s a trend that could have significant implications. A 2021 survey by the International Business Brokers Association found burnout was becoming a major factor for owners selling their businesses. But, despite concerns about burnout and mental health, signs don’t point to those metrics improving in 2023 due to recession fears and an uncertain economy. About half of small-business owners said the reason they don’t take time off is a fear of losing income, and that’s showing during the holiday season.

Article Source: Baltimore Business Journal

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.