Passion Drives the World's Entrepreneurs to Contribute More Than C$11.1tn to the Global After-Hours Economy

RICHMOND, BC--(Marketwired - Nov 19, 2015) - The world's small and medium business owners have contributed C$11.1 trillion to the global economy by working beyond the standard industry hours for their businesses, according to a new global survey by Sage. Canadian small and medium businesses have contributed nearly C$281 billion of that C$11.1 trillion.

But these contributions come at a price. Nearly half (46 per cent) of all global business owners work over 40 hours a week. German entrepreneurs are working particularly hard, with 57 per cent working more than 40 hours every week. Canadian entrepreneurs are achieving a better work life balance, with 37 per cent saying they are working more than 40 hours each week.

This survey by Sage, a market leader for integrated accounting, payroll and payment systems, highlights the true sacrifices made by entrepreneurs around the world.

Tweet This: Passion drives #entrepreneurs to contribute C$11.1tn to global economy, according to Sage survey: http://bit.ly/1H99mT7 #SmallBizSat

Over a third (36 per cent) of those surveyed say they have sacrificed family time for their businesses. That figure was particularly high in South Africa, where 44 per cent of business owners have had to make the difficult decision to choose work over their family. 

Globally, 44 per cent of business owners say that their dedication to their enterprise has affected their relationships. Similarly, 42 per cent of Canadian business owners say their relationships have been affected by their dedication to their companies.

Perhaps as a result of their long working weeks, over half (52 per cent) of German small business owners have canceled a date because of work. This is particularly high compared with the global average of 27 per cent and Canadian average of 28 per cent.

The survey highlights the sacrifices made by small and medium business owners to power the global economy. Over half of business owners globally (66 per cent) and in Canada (64 per cent) say the extra hours are worth it.

More than a third globally (41 per cent) and in Canada (35 per cent) are driven by the love of what they do, while 38 per cent globally and 39 per cent in Canada say they are motivated by the sense of achievement. Particularly motivated are entrepreneurs in South Africa, where 51 per cent say they are motivated by the love of their business, with 59 per cent motivated by the sense of achievement.