Covid-19 travel restrictions are putting off small business owners from vacationing this year.
After a tough year, small business owners are reluctant to take time off from work to travel abroad.
One in six don’t plan to take any holiday, while almost a quarter of sole traders plan to keep working without leave for the next twelve months, according to new research by iwoca, shared with City A.M. today.
Despite international borders reopening and travel restrictions easing, over half the SME owners who do plan on taking a holiday are intending to stay in the UK for it.
Costs and rules around travelling in Covid times are quoted as the main deterrent from going overseas.
The cost of testing, which can amount to more than flight costs, as well as quarantine requirements upon return, has lessened the appeal of a trip abroad.
For SME owners recovering from a tough financial year, the time and money involved in travelling is simply not worth it.
However, research does indicate that travel patterns will change as the UK continues to reopen. Small business owners overwhelmingly agree that taking holiday is important for their mental health. Almost three quarters agreed that taking a holiday was important, though there has been a dip in this sentiment since the previous year.
While there is likely to be an increase in small business owners taking time off as the UK recovers from the impacts of the pandemic, staycationing may well be the new holiday of choice.