Entrepreneurs’ spouses are unpaid heroes
David Woods, 14 November 2008
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The spouses of business owners in the UK spend 230 million unpaid hours each month to help their partners’ businesses, according to Bibby Financial Services.
The report shows the hours worked by entrepreneurs' partners are worth £72 billion every year to the UK economy. More than two thirds (68%) take part in some form of unpaid work for their spouse with 18% working five or more days a week for nothing.
Fifteen percent of those unpaid helpers work in sales and marketing; 14% act as a business partner, driving the company forward; while 46% are regularly consulted on ideas for the business and 44% are used as a sounding board for future decisions.
Edward Rimmer, chief executive of Bibby Financial Services, said: "Such apparent selflessness is perhaps unsurprising given the huge financial commitment involved in running a small or medium-sized business. While taking the plunge and deciding to be your own boss can be one of the most exhilarating things you can do, it requires stamina, perseverance and sheer hard work - not to mention an understanding partner."
However some spouses get rewarded for their effort, with 34% taking on some form of paid work for their partner.
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