Insight given into working lives of business loan users

Wed, 10 Jan 2007

Financial services companies have been given an insight into the working habits of small company owners by the publication of a new study, which might have ramifications for business loans and business insurance providers.

According to research from financial services group Zurich, 48 per cent typically work for six or seven days every week, which underlines the amount of time that they devote to running their business.

On top of this, 49 per cent of respondents admit that they do not take home a regular salary, with 42 per cent altering their pay packet according to the success of the company at the time.

Owners that are struggling to stay in the black, or those that wish to fund expansion plans, may wish to consider taking out business loans from one or more loan lenders.

David Nichols, commercial head of package business at Zurich, also hinted that some employers may benefit from arranging appropriate business insurance and then taking a well-earned break.

"Owners need to take a holiday at some stage to recharge their batteries and if they've got the right insurance cover, this can help give them peace of mind while they are away," he said.


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