Small business owners are risking their health and their businesses by eschewing an annual holiday. Is it time you took a break?
Running a small business is far from easy. You’re both a boss and an employee, and it can be extremely difficult to disconnect one role from the other.
Indeed, a survey by Xero found that 42% of Australian small business owners said they avoided taking holidays because as the main decision maker they felt unable to leave their business, even for a short period of time.
Another 37% said they were unable to take a holiday because they were the sole employee – so taking a holiday meant taking a substantial financial hit.
However, there are many reasons you should seriously consider taking time off at least once a year, regardless of how involved you are with your business.
Get some perspective
Running a small business can be all-consuming, and it can be easy to get caught in the weeds, focusing on the minutiae of day-to day-activities, and miss seeing the big picture.
A holiday is a great opportunity to do some blue-sky thinking, to step away from your work and see it with fresh eyes.
It’s also a great chance to clear your head and allow for fresh ideas to form.
Test your systems
This might strike fear in the heart of even the most organised boss, but there is surely no better way to make sure your systems are in order than by leaving them to their own devices.
While you may worry that a disaster may befall your business without your steady hand on the controls, in truth if you have set your processes up effectively, and have trained your staff well, your business will continue like the well-oiled machine it is for the duration of your break.
The best part is: once you’ve seen that your business can pass the stress-test, you will be much more relaxed all year round, including during your next holiday.
Recharge your engines
It’s critically important for your business to be led by someone with a healthy mind and healthy body.
Research from BOQ’s 2017 Business Balance Report revealed that more than one in ten small business owners have been diagnosed with depression, anxiety or stress as a result of running their own company, and more than a quarter of small business owners have reported becoming physically unwell as a result of stress.
To avoid being a drain on your business – or worse, a liability – you need to take time off every now and then to recharge and relax.
Still not sure?
We know that the idea of taking a break can be enough to make a small business owner quiver in their boots, but it is a critical part of ensuring your business is sustainable.
If you need more persuasion to take a break, or want some tips to make sure things run smoothly in your absence, come and talk to us.
We can give you the support you need to plan your breaks so you can start focusing on booking your tickets.
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
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