SumUp survey highlights work/life trends across Irish SME landscape

A recent survey conducted by global fintech company SumUp, reveals distinctive trends among business owners across work demands, key indicators of success and evolving business needs. The Europe-wide survey conducted across five European markets: Ireland, the UK, France, Italy, and Germany, offers insights on various aspects of Irish businesses, including working habits, adoption of digital payments, and aspirations for future growth.

Growth takes precedence over work-life balance for business owners, as the survey reveals that just under a third (33%) of respondents are working 40-60 hours per week followed by 40.1% working 20-40 hours per week and only 16.9% working less than 20 hours. When asked how long a typical lunch break was for respondents, the data shows that Irish merchants take notably shorter lunch breaks. 33.8% take only 15-30 minutes for lunch, the highest among surveyed countries while 29.8% rarely take a lunch break at all. Only 6.1% take over an hour, a stark contrast to Italy, where 32.9% enjoy extended lunch breaks. 

There is, however, play amidst all the work; when asked how they would spend an extra 10 hours per week, Irish merchants showed a clear preference for personal well-being over business growth, with 39.9% opting for more time with family and friends, 38% prioritising rest and self-care while Business-focused tasks were viewed as less appealing uses of extra time, with just 14.3% focusing on marketing and customer growth, and 8.2% dedicating the time to product development.

Further to this, Irish merchants seem to prioritise holiday time more than some of their European counterparts: just over a third (33.4%) of respondents take 3-4 weeks off annually, compared to only 29.9% in the UK. 27.9% take 1-2 weeks off, while only 8.1% take less than a week. A significant 12.6% said their vacation time varies each year, likely reflecting the unpredictability of running a business. 

Further highlighting the struggles business owners may face when juggling demanding schedules, respondents noted that ‘cloning themselves’ would be their superpower of choice if possible, with 22% noting such. Other popular potential superpowers for Irish merchants included the desire to speak every language at 21.4% – perhaps reflecting global expansion ambitions -, with 18.8% looking to acquire mind-reading ability, and 12.8% choosing time travel.  

Niall Mac an tSionnaigh, CEO of SumUp Limited commented: “The survey highlights both the resilience and commitment of Irish business owners, often balancing long hours with personal commitments. The dedication to growth is evident, not just in these findings but in every interaction with local small businesses day-to-day. With this ambition, it is crucial that a healthy work-life balance also be obtainable.

“We believe that simplifying operations for businesses is critical in helping them take back their time, allowing them to focus on both business growth and personal well-being. Working smart can be just as important as working hard when scaling for growth, and at SumUp we’re here to support that.”

Growth is the overriding goal amongst those surveyed, with 37.3% ranking growing their customer base as the most important factor for success – higher than any other surveyed country. Other key priorities include a focus on revenue (27.3%), achieving a work-life balance (12.2%), and efficiency through technology adoption also coming through as an area of importance (7.7%). 

To stay competitive in the evolving commercial landscape, technological innovations are proving crucial. For business owners across Ireland who are embracing digital transformation, many are experiencing significant revenue growth. The survey revealed that while over 12% of Irish businesses saw a 25-50% revenue increase from adopting digital payments, nearly 15% experienced a 10-25% boost, and 8.5% more than doubled their revenue. This underscores not only the growing demand for technological advances but the value they bring to a business.

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