Getting a Work-Life Balance When Running a Business

In this article we take a look at the importance of getting a good work-life balance and the ways in which you can achieve one.

What’s the difference between a small business grant and a loan?

If you take out a small business loan, you’ll be required to repay the money, usually with interest. A grant is a lump sum you don’t have to pay back. But small business grants sometimes come with conditions attached.

You may be expected to match the grant money. For example, if you’re offered a £20,000 grant, you’ll need to have £20,000 of your own to invest in your company. Or the amount you’re awarded may be based on how much you’ve raised from other sources, like crowdfunding platforms.

Stick to reasonable hours

Working longer hours doesn’t necessarily mean that you’re more productive - in fact, it could have the opposite effect, as your tiredness could impact the quality of your work. To prevent overworking, pick a set number of hours to work each day and stick to them. It’s possible that you’ll need to work longer hours from time to time, but in general you should try to keep to a routine that will give you plenty of time to relax and decompress after work, which will get you ready and refreshed for the next working day.

Make sure to take breaks

Regular breaks throughout the day are also important to help prevent burnout, and maintain your energy levels. Make sure you set aside time for breaks in your workday where you can take a short walk or have some food before carrying on with your tasks. Taking a short walk can help to improve your circulation if you’re standing or sitting in the same position for most of the day, and having snacks and a proper break for a meal will help keep your energy levels up.

Don’t forget about holidays

If you’re a sole trader or in charge of a number of employees, it may seem difficult to find the time for taking a holiday. But taking days off for rest and recuperation is still important. Plan in advance to take some time off, giving appropriate notice to other workers or clients so they can prepare for your absence.

Don’t take on more than you can handle

It’s OK to say ‘no’ to extra work. Having too much on your plate can lead to burnout and the quality of your work can suffer, so it’s important to only take on as much as you can feasibly deal with. Be honest with clients and customers if you cannot take them on right now, and try not to sacrifice your relaxation time to get the work done.

Leave work at work

This can be a more difficult step if you are a sole trader relying on people contacting you at all hours of the day, but it is still possible to separate your work from your personal life. Consider having a work phone rather than using your own, and only checking it during your work hours. Keep business emails separate from your personal ones by using a dedicated business account, and add a footer to your business emails that lists your work hours, so clients and customers know when you’ll be around to answer them.

Don’t be afraid to hire help

Whether it’s a virtual assistant or a receptionist, sometimes we need a little extra help to stay on top of things. Hiring someone to manage your diary, emails and accounts can free you up to focus on other tasks and help to ease stress.

Remember as a business owner to take time to yourself

It’s important that business owners take time for themselves as it can help improve their mental and physical health and boost productivity. As a business owner, you are a key asset, so looking after yourself and your wellbeing should be a top priority. Whether it's a walk in the fresh air, participating in sports or exercising, reading a book, practicing mindfulness or just chilling and spending time with family friends, taking time away from work can refresh your mindset and reset your focus.

Caring for your workforce with small business insurance solutions from Towergate

At Towergate, we offer a number of insurance solutions that can help you to reduce stress for you and your employees while boosting the key metrics your business cares about. Visit our website for more information.

Our team of dedicated advisers are highly trained and will handle your enquiries confidentially. We offer suitably priced products from a range of carefully selected insurers.

For more information for business insurance, visit our dedicated business insurance page or see our cover for a range of trades.  

About the author

Alison Wild BCom (Hons), FMAAT, MATT, Taxation Technician is a highly respected industry professional who has been working with and advising SMEs in areas including tax, pensions, insurance and marketing for over 25 years. She is a member of the Association of Accounting Technicians (AAT) and Association of Tax Technicians (ATT) and also has 20 years' experience as a residential landlord.

The information contained in this article is based on sources that we believe are reliable and should be understood as general information only. It is not intended to be taken as advice with respect to any specific or individual situation and cannot be relied upon as such.