Business owners are increasingly hesitant to take time off due to the rise of inflation. A recent study by Clarify Capital revealed that over 60% of business owners have taken less time off in the past year, with nearly a quarter of them not taking any time off at all. Despite the importance of vacation for overall wellbeing, various factors prevent business owners from stepping away from work.
Financial concerns are a major barrier to taking time off, with 72% of business owners citing this as a reason. Additionally, the lack of a backup manager, fear of missing opportunities, and disruptions in business operations further discourage business owners from taking a break. The risks of not taking time off are evident, as a third of business owners who skipped vacation reported poor mental health, making them 146% more likely to face mental health challenges.
Taking time off has long-term benefits for business owners. Over half of business owners reported increased stress from not taking time off, leading to issues such as work-life imbalance, decreased happiness, physical health problems, and loss of passion for their business. Despite this, many business owners still check their emails and complete work tasks while on vacation, indicating a struggle to fully disconnect.
Clarify Capital emphasizes the importance of prioritizing self-care and taking time off as an investment in both personal and business success. The study recommends setting boundaries for checking work emails, delegating tasks to trusted team members, and completely unplugging from work devices while on vacation. By taking time off, business owners can improve their mental health, reduce stress
