Closing for bank holidays can cost more than £250 a day

Shutting up shop over a bank holiday weekend costs small businesses £253 a day, on average.

This is according to a study by Yell Business, which found that despite these costs 62% of SMEs choose to take bank holidays off work.

On average sole traders lose out on £263, which is £105 more than micro businesses owners who lose £158 by closing their services.

However, it is important to weight up how beneficial the time off would be against the costs – small businesses owners spend their lives spinning plates, and a little down time every now and then is necessary stress-relief.

Yell Business MD Mark Clisby said: “As a small business owner, taking a break from the day-to-day responsibilities of work, allowing time to clear your head, spending time with your family or maybe even focusing on how you want to develop your business, are all important things to take into consideration.”