Passion Drives the World's Entrepreneurs to Contribute More Than $8.3 Trillion to the Global After-Hours Economy

ATLANTA, GA--(Marketwired - Nov 19, 2015) -  The world's small and medium business owners have contributed $8.3 trillion to the global economy by working beyond the standard industry hours for their businesses, according to a new global survey by Sage. U.S. small and medium businesses have contributed $1.9 trillion of that $8.3 trillion.

But these contributions come at a price. Nearly half (46 percent) of all global business owners work over 40 hours a week. German entrepreneurs are working particularly hard, with 57 percent working more than 40 hours every week. U.S. entrepreneurs are working more than the average, with 47 percent working 40+ hours per week. Australian business owners are achieving a better work-life balance, with 31 percent saying they are working more than 40 hours a week.

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

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

Globally, 44 percent of business owners say that their dedication to their job has affected their relationships. Equally, 44 percent of U.S. business owners say their relationships have been affected by their dedication to their companies.

Perhaps as a result of their long work weeks, over half (52 percent) of German small business owners have canceled a date because of work. This is particularly high compared with the global average of 27 percent and U.S. average of 30 percent.

The survey highlights the sacrifices made by small and medium business owners to power the global economy. Over half of business owners globally (66 percent) and in the U.S. (68 percent) say the extra hours are worth it.

More than a third globally (41 percent) and in the U.S. (34 percent) are driven by the love of what they do, while 38 percent globally and 44 percent in the U.S. say they are motivated by the sense of achievement. Particularly motivated are entrepreneurs in South Africa, where 51 percent say they are motivated by the love of their business, with 59 percent motivated by the sense of achievement.