According to recent research from Sage, UK workers have been responsible for adding an extra £240 billion to the economy from the overtime hours they have worked.
The data also reveals that 38 per cent of the workforce regularly work longer than a 40-hour week, which almost a third (31 per cent) say is because they genuinely enjoy their work.
An even higher proportion – 36 per cent – said that they worked longer than contractually obliged because they felt “motivated by the sense of achievement”.
However, it is not only in the UK that people are willing to put in extra hours and, on an international scale, SME business owners have added almost £8.3 trillion to the global economy through additional work.
Just under half (46 per cent) of the world’s business owners have stated that they exceed the standard working hours in their industry.
While the news is good for the global economy, 44 per cent of owners agreed that their personal relationships had been affected by their work-life balance, with a third of British respondents to the survey claiming to have prioritised their work over relationships.
Sage’s chief executive – Stephen Kelly – said: “We know it takes hard work and human sacrifice to turn a dream business idea into a way of life. This survey highlights the extent of that commitment.”
Britain’s economy is currently performing better than many of the world’s other leading countries, including Japan, which has recently entered recession once again, and the statistics emphasise the important role that SMEs are playing in the UK’s recovery.
