smallbusiness.co.uk: Helping your business think big

Entrepreneurs are adding eight hours to their working week in a bid to counter the effects of the recession, new research shows.

Figures from the Tenon Forum, an entrepreneur thinktank, reveal more than a quarter of business owners have increased their hours as a response to the recession.

The average increase for each company owner was eight hours a week, effectively adding an additional day to the working week.

Carl Jackson, head of Tenon Recovery, says the research comes as no surprise as the UK sees more businesses fail each week.

'In these uncertain times, bosses and their staff need to work together to ensure their businesses are in the best possible position to have a successful year in 2009,' he adds.

The survey also showed over a quarter of businesses have already let staff go since the credit crunch began, with a similar number also planning to cut wages.

However, a recent survey from Premierline Direct showed that owning your own company can reduce stress levels, with 81 per cent of respondents saying they get a better night's sleep now they run their own firm.