Entrepreneurs are pushing their working hours still further to counter downturn risks, claims Tenon Forum.

The latest research from entrepreneur think tank, Tenon Forum reveals that more than a quarter (28%) of UK entrepreneurs have increased their working hours as a direct result of the economic downturn, adding eight hours on average to their working week – the equivalent of a full working day.

And with businesses in all sectors having to resort to redundancies in order to survive, this long-hours culture is unlikely to improve in the foreseeable future. Over a quarter (26%) of entrepreneurs surveyed have already let go of staff since the start of the credit crunch, and a similar proportion (24%) are planning to cut wages by an average of 9% over the next 12 months.

Carl Jackson, Head of Tenon Recovery, comments: "It's no surprise that entrepreneurs are upping their hours to stay afloat as we continue to see record number of failing businesses and no sign of the recession easing. However, it is encouraging to see small businesses being realistic and taking practical steps to see them through the downturn."

"While entrepreneurs may be faced with some difficult decisions over the coming months, including making redundancies and pay cuts where necessary to remain profitable, it’s important to remember the value a trusted workforce can bring. In these uncertain times, bosses and their staff need to work together to ensure their businesses are in the best possible position to have a successful year in 2009."