Brokers have been encouraged to take a much-needed break this Christmas amid new research revealing that a third of small-business owners are planning to work through the holiday season.
New research from SME lender OnDeck Australia, which involved a survey of 430 small-business owners, has found that 30 per cent of respondents have no plans to take time over the holiday season.
When asked why they weren’t taking time off, 55 per cent said their business is “too dependent on them”, 50 per cent cited affordability constraints, and 32 per cent said they do not have enough time.
Further, of the 70 per cent of respondents that plan on taking time off this year, 49 per cent said they would continue to manage their business remotely.
OnDeck’s research also found that only half (50 per cent) of SME respondents have taken a holiday in the last six months, one in four (26 per cent) have not had a break from their business in the past four years, and 6 percent have never taken time off from their business.
Reflecting on the results, Cameron Poolman, CEO of OnDeck Australia, said: “The Christmas and New Year period is the peak trading period of the calendar for many small businesses, so it is understandable that many owners are reluctant to take time off. But having some downtime over the festive season is essential to avoid burnout.”
Mr Poolman made particular reference to brokers, encouraging them to take a step back from their businesses to gain insights into their needs and objectives.
“Taking a break gives brokers some distance from their business – and a chance to gain valuable perspectives on where the business is heading and opportunities for growth,” he said.
Mr Poolman added: “Taking care of yourself is taking care of the business. Broking, in particular, is a very people-centric profession, and when brokers become overly fatigued, their business can suffer.
“This makes it critical to embrace opportunities to take time out and recharge this festive season.”
To hear more from Mr Poolman about the tips he has to offer for brokers assisting SME clients, click here.
The Member for Fisher says brokers back the bill repealing resp...
The non-bank has reported an 11 per cent growth in new loans writ...
Andre Agassi and Lleyton Hewitt underscored the importance of bus...