Research carried out by bank ANNA Money has revealed that more than half of small and medium-sized enterprise (SME) owners intend to work on Christmas Day.

The research showed that 59% of small business owners will be working on Christmas Day in order to keep their business afloat amidst the ongoing cost-of-living crisis.

Most expect to answer emails and perform general business admin tasks, such as reviewing invoices and paying wages.

The survey also suggested that 45% of SME owners plan to take just three days off work between 22 December and 1 January 2024. Many firm owners said this reduced time away from work is a direct result of the pressures generated by the cost-of-living crisis.

Commenting on the findings, Boris Diakonov, CEO of ANNA Money, said: ‘It’s more challenging than ever to run a profitable company so if anyone deserves a break over the Christmas holidays it’s SMEs, but our survey shows that many small business owners will be hard at it on the big day, sacrificing precious family time to keep their businesses up and running.’