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According to the Entrepreneurial Gallup, 14 percent of entrepreneurs will not take any vacation this summer, while 11 percent will take a maximum of one week off. Less than half feel they are able to take sufficient time off.

"It is important for entrepreneurs to take vacations. It is significant for their well-being, recovery, and the development of their businesses.

However, for many, taking a vacation is very challenging either due to financial reasons or the lack of a substitute workforce due to labor shortages or the cost of hiring," says Petri Salminen, Chairman of Suomen Yrittäjät (Finnish Entrepreneurs).

More than half (52%) of entrepreneurs plan to take a vacation of up to two weeks this year. Some entrepreneurs have the opportunity to enjoy longer vacations. 26 percent of respondents will take four weeks or more of vacation.

"There are several reasons for not taking a summer vacation: some entrepreneurs cannot afford it, while for others, summer is the peak season for their business," says Salminen.

"For entrepreneurs, vacations can also be a source of stress if they have to contemplate their company's operations or survival during their time off," Salminen continues.

More Entrepreneurs Know Whether They Will Take a Vacation this Summer

Nearly half (47%) feel they are able to take sufficient vacation time, while an equal share (47%) disagrees. The lowest assessment of vacation sufficiency is among businesses with 2-9 employees, in the retail and construction sectors, and among entrepreneurs aged 40-49.

"It is concerning that almost half of entrepreneurs feel they cannot take sufficient vacations throughout the year. However, vacation deprivation does not automatically lead to work-related issues. It is important to make choices in daily business operations that help entrepreneurs cope and recover. Often, their own business is the most significant resource for entrepreneurs," says Salminen.

The positive aspect is that the number of respondents who cannot determine the length of their upcoming summer vacation has significantly decreased since spring 2020. In spring 2020, 21 percent were unable to answer, while now only nine percent are uncertain.

"Due to the uncertainties caused by the COVID-19 pandemic, many entrepreneurs have lived through multiple summers without the ability to plan vacations. Now, a significant change has occurred."

The Entrepreneurial Gallup survey was conducted among 1,041 representatives of small and medium-sized enterprises from April 18th to 28th, 2023. The margin of error for the overall results is +/- 3.1 percentage points. The survey was commissioned by Kantar Public on behalf of Suomen Yrittäjät (Finnish Entrepreneurs).

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