smallbusiness.co.uk: Helping your business think big

Partners of small to medium-sized business owners are contributing 230 million unpaid hours each year, helping these firms stay profitable, new research has found.

A survey by Bibby Financial found over two-thirds of company owners' spouses regularly do some unpaid work for the business, while 20 per cent work for five days or more a week with no salary.

Bibby Financial states in the current economic climate these free workers are responsible for keeping many firms running.

Edward Rimmer, chief executive of Bibby Financial Services for UK and Ireland, says: 'These 'unseen heroes' are, more often than not, unpaid, keep their heads down and regularly clock up considerable amounts of time to guarantee their partner's business is a success.'

He adds that setting up a business requires 'stamina, perseverance and sheer hard work', in addition to an understanding partner.

Spouses are often responsible for the business beginning, with almost a quarter saying the idea behind the company was theirs or came from discussion with family and friends.

A number of partners do get paid for their work, with 34 per cent saying they now have a salary from their husband or wife's company.

The organisation reported recently that over one million hours are lost by businesses each year in making travel plans or being late for meetings.

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