Self employed = long hours

New research shows being your own boss can come at a price with 40 per cent of self-employed people working 50 hours or more a week, The Australian reports.

The Melbourne Institute's Household Income and Labour Dynamics Survey claims people often start their own business to enjoy a more flexible lifestyle but usually find themselves working longer hours.

While many self-employed people said they would prefer to work less, they feared not putting in long hours would hurt their business and lead to negative word of mouth from customers.