Small firm owners 'wedded to job'

When it comes to running a small business, owner-managers expect to be in there for the long haul. That's a finding of a survey from Barclays Local Business, which found that owners project a business life expectancy of at least 25 years, a year.

As well as being wedded to the job, small firm bosses form loyal relationships with staff. Despite the popular belief that a 'job for life' is a thing of the past, 29% of those questioned have an employee on the books who has been with the firm for at least 10 years and two-thirds still employ their first ever recruit. It is certainly an emotional connection, with 40% of owners admitting that business failure would be like ending a love affair.

Although female bosses are more likely to be affected by 'business bereavement' when a company fails, it is the men who are more sentimental in the daily operations of a firm. On average, male owners employ their first recruit for one year longer than women bosses and keep their longest serving member of staff for a year more.